Linn County Online Land auction – SOLD
Iowa Land Company is honored to represent the Nancy Chalupnik Farm in Linn County, just 3.5 miles southwest of Fairfax, Iowa and 7.5 miles from Cedar Rapids, Iowa. The farm is considered a lot of record, which means you can build a home of your choice on the property. The farm is located in Fairfax Township, Section 29. The farm consists of 25.74 net taxable acres and will be offered via online only auction, bidding starts February 28th, 2022 and ends March 29th, 2022 at 1:00PM (soft close). The farm will be offered in one tract (See farm details below). This is a great opportunity for local farmers to expand their current farming operation. The CSR2 weighted average is an outstanding 88.1, with Klinger, Dinsdale, and Kenyon loam soils, making up the majority of the farm. The farm is rented for the 2022 growing season. Opportunities like this don’t come to the market in this area often, you won’t want to miss this one. This is an ONLINE ONLY AUCTION, online bidding starts February 28th, 2022 and ends March 29th 2022 at 1PM CST with a “soft close”.
Call Land Agent Nick Skinner at 515-650-0974 or Land Broker Cody Skinner at 515-443-6343 for more information.
- 25.74 +/- Net Taxable Acres
- 25.56 +/- Cropland Acres
- 88.1 CSR2
- 2022 cash rent is $7,722.00.
- Farm is considered a “Lot Of Record”, building a home is approved by Linn County
- High quality farm in an area where farms do not come for sale often (Lack of Supply)
- Excellent CSR2 average of 88.1 on FSA Cropland Acres
- Well maintained farm with the soils to produce every year
- Topography has enough roll to drain well naturally
- Strong Farming Community
- Electricity is located on the road, buyers expense to install a meter
- Well and Septic would need to be installed at buyers expense
- 3.5 miles Southwest of Fairfax, Iowa
- 7.5 miles Southwest of Cedar Rapids, Iowa
- 25 miles Northwest of Iowa City, Iowa
Corn – 13.18
Soybeans – 13.38
Corn – 150
Soybeans – 45
Auction Date: Online Only Bidding | Bidding Deadline is March 29th, 2022 at 1pm
Auction Time: 1:00 PM (Soft Closing)
Auction Location: Online Only Bidding
Auction Address: Iowalandcompany.com
Sale Method: The farm will be sold as an online only auction as one tract. Seller does have a reserve set for the sale.
Farm Lease: Farm tillable ground is leased for the 2022 season. Buyer to receive a prorated amount of cash rent income of $2,147.35 for the first half of the 2022 farming lease and then will receive the second half payment of $3,861 on September 1st, 2022 from the tenant. 2022 farm cash rent is $7,722.00.
Survey: Final purchase price will be sold using taxable acres as the multiplier. See survey in the maps.
Purchase Agreement: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with the seller’s attorney the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing.
Earnest Money: 10% earnest money payment is required on the day of the auction. All funds will be held in the sellers’ attorney trust account. Remaining balance will be due at closing.
Farm Possession: The farm is rented for the 2022 farming season.
Farm Closing: May 10th, 2022
FSA Information: Call Land Agent Nick Skinner or Land Broker Cody Skinner for any FSA information questions prior to the auction. Note all FSA information is estimated to the best knowledge of the seller and Iowa Land Company. All information is subject to change. Farm will be subject to a new FSA conservation plan.
Mineral Rights: All mineral rights owned by the seller will convey to the buyer.
Bidder Registration: All active bidders must be registered prior to bidding on the farm. All bidders must have a bid card to bid on the farm. Call Land Agent Nick Skinner or Land Broker Cody Skinner prior to the sale if you are unable to attend the sale but have an interest in the farm. We do have online bidding available. You must sign up for online bidding at least 24 hours before the sale unless special arrangements have been made with Iowa Land Company.
Terms and Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold “AS IS-WHERE IS” basis with no warranties or guarantees, either expressed or implied by the Seller or Iowa Land Company.
Announcements: Information provided herein was obtained from sources deemed reliable, but neither Iowa Land Company nor the Seller make any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, it’s condition, and to rely on their own conclusions. All sketches, dimensions, and acreage figures are approximate or “more or less”. Any announcements made auction day by Iowa Land Company will take precedence over any previously printed materials or oral statements. Iowa Land Company and Seller reserve the right to preclude any person from bidding if there are any questions as to the person’s credentials or fitness to bid.
Brief Legal Description
25.74 +/- taxable acres located in Linn County in Fairfax Township, Section 29, Range 8W. Exact legal description will come from the deed. Parcel Number: 202910100500000
Estimated $1,186.43 Estimated Annually
Class – Agriculture
From Fairfax, Iowa
- Go South on Hwy 151 for approximately 2.5 miles
- Turn left (east) on Wright Brothers Blvd West for approximately 1 mile
- Farm will be on the South (right) side of the road
- Property signage will be on the farm