1,536.89 +/- Acre Land Auction, Brookings Co., SD

April 14, 2022 10:00 am

Brookings County, SD

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Auction conducted live & online, held at the Brookings Swiftel Center

Tract 1 Sold For $9,000 Per Acre or $1,337,400.00

Tract 2 Sold For $8,300 Per Acre or $664,000.00

Tract 3 Sold For $7,400 Per Acre or $1,077,588.00

Tract 4 Sold For $8,500 Per Acre or $1,088,000.00

Tract 5 Sold For $10,550 Per Acre or $400,900.00

Tract 7 Sold For $6,800 Per Acre or $1,088,000.00

Tract 12 Sold For $2,700 Per Acre or $1,744,821.00

Tract 15 Sold For $5,050 Per Acre or $999,900.00

Auctioneer Notes

AUCTIONEERS’ NOTE: Here is a rare and outstanding opportunity to purchase up to 1,536.89 +/- acres of land, all within close proximity of each other, in Brookings County, SD. These parcels represent multiple tracts, featuring strong row crop farms, pasture farms, mixed use tillable and grass farms, CRP & recreational parcels, and potential building site parcels. This sale will be conducted Live in the conference room at the Swiftel Center, with online bidding also available. Parcels that are rented for the 2023 crop year will furnish a full, upfront credit at closing for the upcoming annual rent payment. The new buyers will receive hunting rights at closing. There are multiple parcels that are ideal for row crop or investment portfolios, and there are also multiple tracts that are ideal for recreation, development and building sites. All tracts will be offered individually or as a total unit. Many tracts offer scenic lake views and lake or private water access. You won’t want to miss this sale and opportunity! Please contact the auctioneers for copies of preliminary title reports. Tract 15 in Oslo Twp. does not include the full mineral rights. Tracts with a US Fish & Wildlife Service Conveyance Easement for Waterfowl Management Rights are identified below. Click on tabs below for a breakdown of preliminary title for all tracts. Tracts 1-6 are under the tab marked as Disclosure Statement.

Overview

Tract 1 Sold For $9,000 Per Acre or $1,337,400.00
Tract 1 – 148.60 +/- Acres This predominantly tillable, row crop farm has 148.21 DCP cropland acres and a soil rating of 76.5. The farm is primarily made up with strong class II soils, featuring Poinsett-Buse & Waubay soils. The farm is located on a paved road in a strong agricultural location and features a gentle laying topography with good eye appeal. The farm does have some drain tile that was installed around 2012, and the new buyer will receive a rent credit at closing for $32,000.00.
Description: SE ¼ Exc. Acreage, Sec. 12, T-109-N, R-52-W, Lake Sinai Twp.

Tract 2 Sold For $8,300 Per Acre or $664,000.00
Tract 2 – 80 +/- Acres This 80 +/- acre farm is located on a paved road and has a total soil rating of 71.6. The farm has 72.28 DCP cropland acres per the FSA office, some of which are utilized for grass that is suitable for grazing or haying. The farm also has two small shelter belts along with a dug out for water on the east side. This farm has excellent access in a strong location. The farm does have some drain tile that was installed around 2010, and the new buyer will receive a rent credit at closing for $17,000.00.
Description: N ½ of the NW ¼, Sec. 20, T-109-N, R-52-W, Lake Sinai Twp.

Tract 3 Sold For $7,400 Per Acre or $1,077,588.00
Tract 3 – 145.62 +/- Acres This row crop farm has 138.73 DCP cropland acres and a soil rating of 62.7. The farm primarily features Buse-Barnes Loams & Poinsett-Buse-Waubay Complex soils. The cropland acres have a gentle laying topography, and the farm has a good location near tract 2 and within one mile of a paved road. The new buyer will receive a rent credit at closing for $30,000.00.
Description: NE ¼ of Sec. 29 Exc. Acreage & Part of Sec. 20, T-109-N, R-52-W, Lake Sinai Twp.

Tract 4 Sold For $8,500 Per Acre or $1,088,000.00
Tract 4 – 120.44 +/- Acres This row crop farm has 102.39 DCP cropland acres and a soil rating of 73.5. The farm primarily features Poinsett-Buse-Waubay Complex soils, a strong class II soil ideal for row crops. This row crop farm will be offered separate or as a unit with tract 5. The new buyer will receive a rent credit at closing for $22,000.00.
Description: 120.44 +/- Acres in NW ¼ of Sec. 4, T-109-N, R-52-W, Lake Sinai Twp.

Tract 5 Sold For $10,550 Per Acre or $400,900.00
Tract 5 – 38 +/- Acres This 38 +/- acre parcel has been primarily utilized for pasture grass & grazing. The parcel boarders Lake Sinai on the southern end of the property, and features a high elevation center crown in the middle that has some mature trees and overlooks the lake, making property ideal for future building. The parcel has established fences and a water source. The parcel is free for possession after the 2022 crop year.
Description: 38 +/- Acres in NW ¼ of Sec. 4, T-109-N, R-52-W, Lake Sinai Twp.

Tract 6 Sold as Individual Tracts 4 & 5
Tract 6 – 158.44 +/- Acres This 158.44 +/- acre tract is a unit combination of Tracts 4 & 5. The farm has 113.29 DCP Cropland Acres, per the FSA Office. This tract is sold with a US Fish & Wildlife Service Conveyance of Easement for Waterfowl Management Rights, dated in 1978 The new buyer will receive the rent credit at closing of $22,000 for the crop acres, and the pasture will have possession for 2023.
Description: 158.44 +/- Acres in NW ¼ of Sec. 4, T-109-N, R-52-W, Lake Sinai Twp.

Tract 7 Sold For $6,800 Per Acre or $1,088,000.00
Tract 7 – 160 +/- Acres This row crop farm has 118.83 DCP cropland acres and a soil rating of 75. The farm primarily features Poinsett-Buse-Waubay Complex soils, a strong class II soil. The farm offers strong cropland acres and also recreation opportunities as well. This tract has a good location and is across the road from tracts in section 8. The farm does have some drain tile that was installed around 2010, and the new buyer will receive a rent credit at closing for $25,000.00.
Description: SE ¼ of Sec. 7, T-109-N, R-52-W, Lake Sinai Twp.

Tract 8 Sold With Unit Tract 12
Tract 8 – 146.78 +/- Acres This row crop farm has 119.04 DCP cropland acres and a soil rating of 67.5. The farm primarily features Poinsett-Buse-Waubay Complex soils for the cropland acres. The farm offers strong row crop acres and also recreation opportunities as well. The tillable acres lay nice and present nice eye appeal. This tract is sold with a US Fish & Wildlife Service Conveyance of Easement for Waterfowl Management Rights, dated in 1978The new buyer will receive a rent credit at closing for the sum of $25,000.00.
Description: NW ¼ Exc. Acreage Site, Sec. 8, T-109-N, R-52-W, Lake Sinai Twp.

Tract 9 Sold With Unit Tract 12
Tract 9 – 110.90 +/- Acres This row crop & grassland farm has 92.75 cropland acres per the FSA office and a soil rating of 71.1. The farm currently has approx. 30 acres on the south end enrolled into row crop production, and 61 +/- acres that is currently utilized for pasture grazing but could have a high volume enrolled back into row crops. The farm primarily features Poinsett-Buse-Waubay Complex soils. This parcel also offers recreational opportunities as the back side boarders the lake. The new buyer will receive a rent credit at closing for $15,500.00.
Description: SW ¼ Exc. Lot 1 & 2 of Risty Addn., Sec. 8, T-109-N, R-52-W, Lake Sinai Twp.

Tract 10 Sold With Unit Tract 12
Tract 10 – 37.50 +/- Acres This 37.5 +/- acre parcel has approx. 7 dry land acres that currently are utilized for pasture grazing. The remaining land on this tract is primarily made up of water and offers the opportunity for a potential site to build on. The parcel has a good water source and features scenic views. The new buyer will receive a rent credit at closing for the sum of $500.00.
Description: Risty Addn, Lot 2 in SW ¼ of Sec. 8, T-109-N, R-52-W, Lake Sinai Twp.

Tract 11 Sold With Unit Tract 12
Tract 11 – 351.05 +/- Acres This parcel is a recreational enthusiast’s dream paradise as it is comprised of mixed use opportunities, featuring cropland acres, CRP acres, water, and private peninsulas. There currently are 20 +/- cropland acres along with an additional 23.12 CRP acres enrolled for $197.24 per acre through 2024. This parcel offers abundant potential for hunting, fishing or even a private place to build overlooking a lake. The property boarders and flows concurrent with Lake Sinai. The new buyer will receive a rent credit at closing for the sum of $6,000, and will receive the annual CRP payments of $4,560.00 beginning in 2022. This tract is sold with a US Fish & Wildlife Service Conveyance of Easement for Waterfowl Management Rights, dated in 1978.
Description: E ½ of Sec. 8 & Part of Sec. 9, T-109-N, R-52-W, Lake Sinai Twp.

Tract 12 Sold For $2,700 Per Acre or $1,744,821.00
Tract 12 – 646.23 +/- Acres This 646.23 +/- acre tract is a unit combination of Tracts 8, 9, 10 & 11 and offers income in the form of $47,000.00 for a rent credit at closing and $4,560 for the annual CRP payment.
Description: 646.23 +/- Acres in in Sections 8 & 9, T-109-N, R-52-W, Lake Sinai Twp.

Tract 13 Sold With Unit Tract 15
Tract 13 – 8 +/- Acres This 8 +/- acre parcel offers the opportunity for a scenic building site to build on in the county. The parcel features mature trees, and an older cattle shed that is tucked back off the road down a gravel driveway. The parcel offers an excellent spot for country living enthusiasts, and has a great location for hunting or horses. The existing and surrounding fence will belong to the owner of the surrounding land. New fencing, if any, for this particular parcel will be the responsibility of the owner of tract 8. This parcel is leased out with the surrounding land through 2023. The new buyer will receive hunting rights at closing but will not be granted possession for development of any kind before expiration of the lease at the end of 2023. This tract does not include the full mineral rights. The parcel will be offered separate or as a unit with Tract 14. If this building site is sold separate, an access easement will be applied to this site for access to the surrounding land, identified as tract 14, and the tillable acres northeast of the acreage site.
Description: 8 +/- Acres in Sec. 30, T-109-N, R-51-W, Oslo Twp.

Tract 14 Sold With Unit Tract 15
Tract 14 – 190 +/- Acres This 190 +/- acre parcel offers mixed use potential with cropland, hay ground and pasture acres. The farm has 120.24 DCP cropland acres, with 40 +/- acres currently utilized for row crops. The farm also has approximately 130 +/- acres currently utilized for pasture grazing, and an additional 11 +/- acres that is cut for hay. The pasture has established fences and a good natural and dug out water source. The building site will be excluded, following the existing fence line. The existing fence will belong to the owner of tract 14, 190 +/- acres. New fencing, if any, will be the responsibility of the owner of this parcel. Any additional fencing that would be required around the building site to keep livestock out of tract 13 will be the sole responsibility of new buyer. This tract does not include the full mineral rights. The new buyer will receive a rent credit at closing for the sum of $23,000.00. This parcel will be offered separate or as a unit with Tract 13.
Description: 190 Acres Exc. Building Site in Sec. 30, T-109-N, R-51-W, Oslo Twp.

Tract 15 Sold For $5,050 Per Acre or $999,900.00
Tract 15 – 198 +/- Acres This 198 +/- acre parcel is a unit combination of tracts 13 & 14. This tract does not include the full mineral rights, half are separately owned. The new buyer will receive the rent credit at closing in the sum of $23,000.00.
Description: 198 +/- Acres in S ½ of Sec. 30, T-109-N, R-51-W, Oslo Twp.
Tract 16 – 1,536.89 +/- Acres This total unit tract is a combination of all tracts, 1-15 featuring 1,536.89 +/- acres. The buyer will receive the full rent credit of $200,560 at closing and inherit the annual CRP payment of $4,560.

Description

1,536.89 +/- Acres in Lake Sinai & Oslo Twp’s., Brookings Co., SD

Terms

TERMS: 10% non-refundable earnest money deposit due day of sale with balance due on or before September 2nd, 2022. Title insurance and closing fee split 50/50 between buyer & seller. The buyers will receive a seller enhanced rent credit at closing for the upcoming 2023 rent payment. All parcels are free for possession following the 2023 crop year, with tract 5 free for possession following 2022. Rent credits provided at closing are not guaranteed amounts for future leased years, if any. The new buyers will receive hunting rights at closing. All applicable leases expire after the 2023 crop year. Buyer(s) may close earlier than the date listed above if they would prefer to elect to do, but they still will not be credited for the 2022 rent payment. The Seller will pay all the 2022 real estate taxes, payable in 2023. The new buyers will be responsible for the 2023 taxes. If tracts 5 & 13 are sold separate, a plat will be conducted, and the cost will be split 50/50% between the buyers and seller. The sellers and agents do not make any claims for boundary lines or total acres. Fences are not guaranteed to be accurate boundary line representations. Any new fencing will be the responsibility of the new buyers. If tract 13 is sold separate from tract 14, the existing fence will belong to the tract 14. The new buyer of tract 14 will also be responsible at their expense, for any required new fencing to prohibit livestock from entering tract 13, the 8 +/- acre building site. The owner of tract 13 will be responsible for their own fencing if they wish to utilize said property for any grazing, and may not use the existing fence without an agreement from the surrounding land owner. This property is sold subject to easements and restrictions, if any, and is sold subject to confirmation of the trustee. New buyers are responsible to conduct their own due diligence for future use and any information from the FSA, NRCS or County Zoning Offices. Listed DCP cropland acres are per the FSA office. The sellers do not provide any guarantees, warrantees or contingencies for parcels, and future access for all potential parcels is the responsibility of the new buyer(s), not the responsibility or liability of the seller. Information pertaining to access for on the North end of Tract 11 is provided in the attached documents. Information provided regarding any drain tile is believed accurate but not guaranteed. Condition of any existing tile is as is, where is. Fence posts & railroad ties in shed on tract 13 are not included. Electric fencing belonging to the renters is also not included. Full mineral rights for tract 15 (13 & 14) is not included. If this building site is sold separate, an access easement will be applied to this site for access to the surrounding land, identified as tract 14, and the tillable acres northeast of the acreage site. Information contained herein and all statements made herein are believed to be accurate but not guaranteed. Preliminary title work has been conducted and any recordings or easements of record are sold with the farm(s). Records of such can be provided upon request by emailing office@burlagepeterson.com. Auctioneers & Realtors represent the sellers in this transaction. THE FOLLOWING TERMS & LANGUAGE WILL BE IMPLEMENTED INTO THE PURCHASE AGREEMENT(S): TERMS: 10% non-refundable earnest money deposit due day of sale with balance due on or before September 2, 2022. Title insurance and closing fee split 50/50 between buyer & seller. Buyers will receive a seller enhanced rent credit at closing for the 2023 rent payment. All parcels are free for possession following the 2023 crop year, with tract 5 free for possession following 2022. Rent credits provided at closing are not guaranteed amounts for future leased years, if any. The new buyers will receive hunting rights at closing. All applicable leases expire after the 2023 crop year. Tract 13 will adhere to the current lease and a new buyer will not be able to build or construct anything or disrupt the renter’s livestock without direct permission from the current renter. Buyer(s) may close earlier than the date listed above, but will not be credited for the 2022 rent payment. The Seller will pay all the 2022 RE taxes, payable in 2023. The new buyers will be responsible for the 2023 taxes. If tracts 5 & 13 are sold separate, a plat will be conducted, and the cost will be split 50/50% between the buyers of tracts 4 & 5, & 13 & 14, and the seller. Some tracts are combinations of multiple parcels identified with the equalization office. Right to farm clauses are understood for all potential building sites. The sellers and agents do not make any claims for boundary lines or total acres. Fences are not guaranteed to be accurate boundary line representations. Any new fencing will be the responsibility of the new buyers. If tract 13 is sold separate from tract 14, the existing, surrounding fence will solely belong to tract 14. The new buyer of tract 14 will also be responsible at their expense, for any required new fencing to finish the fence around the boundary, including on the north end, to prohibit livestock from entering tract 13, the 8+/- acre site. The owner of tract 13 will be responsible for their own fencing if they wish to utilize said property for any grazing, and may not use the existing fence without an agreement from the surrounding land owner. Owners of both tracts, if sold separate acknowledge that they do not own rights to anything outside their boundary lines. If this building site is sold separate, an access easement will be applied to this site for access to the surrounding land, listed as tract 14, and the tillable acres northeast of the acreage site. Maps provided to not guarantee to be exact boundary lines of existing parcels or tracts platted off. This property is sold subject to confirmation of the owners. New buyers are responsible to conduct their own due diligence for future use and information from the FSA, NRCS or County Zoning Offices. Listed cropland acres are per the FSA office and not guaranteed to be accurate for current or future crop acres. The sellers do not provide any guarantees, warrantees or contingencies for parcels, and future access for all potential parcels is the responsibility of the new buyer(s), not the responsibility or liability of the seller or agents. Information obtained regarding the tracts has been provided, buyers are responsible to conduct any further due diligence regarding the comprehension of the information provided. Sellers and agents of make no claims regarding potential usage or development around any bodies of water, or public access or right of way onto any land from said water. Sellers or agents of also make no claims about future bodies of water, what can be done on or around said water, or acres attributed to any water. Information provided & statements made regarding drain tile is believed accurate but not guaranteed. Condition of any existing tile is as is. Electric fence belonging to the renters is not included. Full mineral rights for tract 15 (13 & 14) are not included, and is the buyer’s responsibility to conduct due diligence on any details of mineral rights. Information obtained has been provided. Information contained herein and all statements made are believed to be accurate but not guaranteed. Preliminary title work has been conducted and any recordings or easements of record are sold with the farm(s). Buyers acknowledge that information obtained has been made public prior to the sale. US Fish & Wildlife Service Conveyance Easements for Waterfowl Management Rights on Wetlands are known to be attached to tracts 4, 5, 8 & 11. All other easements, right of ways, drainage rights, access agreements or restrictions are applicable. Statements made day of sale take precedent over all previous written or said information. Full legal descriptions will be reflected on title work through title company. Sellers and auctioneers are held harmless in this transaction. Auctioneers represent the sellers. Buyers or sellers may conduct a 1031 exchange.

Owner

Risty Farms Inc.

Additional Information

AUCTIONEERS & REALTORS Tyler, Lenny, Scott, Jim, Dustin & Jill Burlage Peterson Auctioneers & Realtors, LLC Land Brokers - Auctioneers - Realtors - Farm Managers Office@burlagepeterson.com or 605-692-7102