Steffes Group

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Steffes Group

Linn County, IA Land & Acreage Auction - 126± Acres, 2 Tracts - SOLD!!

Wednesday, March 22 @ 04 PM

Year Make Model
Tract 1
Bidding will be 68.77 X TIMES your bid price.

Tract 1 – 68.77± Acres with 5 Bedroom Home
Located at 1842 Covington Road, Palo, IA

- This two story home has a very unique floor plan with separate living quarters.  The home was built in 1985 with 1,536 sq. ft. on the main level.
- Main living quarters offers a living room, dining room, kitchen, pantry closet & ½ bath on the main level.
- Upstairs has a main bedroom w/ ensuite ¾ bath, two additional bedrooms and a full bathroom.
- The separate living quarters is partially finished with a separate entrance to the main level living areas. The upstairs offers two bedrooms and an unfinished bathroom.
- Full walkout basement has a large L shaped rec room, full bathroom, washer, Weil-McLain boiler heat and the property has a well.
- There are other older dilapidated barns & buildings on this property.
- Property is currently zoned Agricultural (AG).

FSA indicates: 53.33 acres tillable.
Corn Suitability Rating 2 is 54.8 on the tillable acres.
Located in Section 15, Clinton Township, Linn County, Iowa.
View - Tract 1 - FSA 156 EZ form
View - Tract 1 - FSA Field Map
View - Tract 1 - Soil Map
View - Tract 1 - Real Estate Contract

 Refrigerator, Stove, Dishwasher, Washer, Any item present on the day of final settlement/closing.

Not included: LP tank, Tenant’s Farm Equipment.

Tract 1
Tract 2

Bidding will be 57.23 X TIMES your bid price.

Tract 2 – 57.23± Acres with Cabin Lot Rental Income
Located at 2583 Eva Mae Page Lane, Central City, IA

This property is ready for a new owner to take on the responsibility of landlord of the recreational ground with cabin rental spots along the Wapsipinicon River.  Cabins spots include river frontage & bluff views. The property is known as Eagle Cove and Eagle Point and is located along North Alburnett Road. The land is currently zoned Seasonal Cabin and Recreation-Critical Natural Resources (REC-CNR).

There are approximately 19 cabin rental spots. The 2021 Schedule E 1040 tax return indicates $24,750 gross income from the cabin spot rentals & cash rent of the tillable land.  It shall be the Buyer’s responsibility to do their due diligence, as this will be a work in progress, as the Buyer will be responsible for honoring current leases in place, as well as working through reestablishing former leases and taking action on unpaid tenants. Seller will retain 100% of the 2023 lease payments already received for the cabin rental spots. Buyer will receive 100% of the 2023 cash rent for the tillable land.  Please note: cabins & campers are not owned by the Seller.  Cabins & campers are owned by the tenants.

FSA indicates: 12.26 acres tillable.
Corn Suitability Rating 2 is 39.6 on the tillable acres.
Located in Sections 13 & 24, Spring Grove Township, Linn County, Iowa.
View - Tract 2 - FSA 156 EZ form
View - Tract 2 - FSA Field Map
View - Tract 2 - Soil Map
View - Tract 2 - Real Estate Contract

Included: Any item present on the day of final settlement/closing.
Not included: Tenant’s cabins, campers & personal property items.

Tract 2