350 +/- Acre Land & Acreage Auction, Drammen Twp., Lincoln Co., MN

March 26, 2021 12:00 am

Lincoln County, MN

Directions

Tract 1: Acreage Site, Sold for $317,500.00

Tract 2 Sold for $7,550 Per Acre or $1,072,100.00

Tract 3 Sold for $7,600 Per Acre or $608,000.00

Tract 4 Sold for $5,750 Per Acre or $632,500.00

Auctioneer Notes

This auction presents an excellent opportunity to purchase up to 350 +/- acres of good tillable land w/drain tile & active wind towers, some pasture, and an exceptional acreage for livestock producers. This land is in a strong agricultural area, and now is the time if you are in the market for land that could be an outstanding addition to your portfolio. Immediate possession granted to new buyers on land for 2021.

Overview

Tract I – 18 +/- Acre Acreage - This acreage offers a large home with 1,916 above ground sq. ft., a partial basement with in floor heat, and an attached 3 stall heated garage. The home also has a large master suite above the garage that includes a walk in closet, full bathroom, large bedroom and an adjoined office/family room. The acreage has rural water and approx. 4,000 ft. of drain tile. The site features a heated and finished 40x80 machine shed, a 40x76 barn w/ lean to, a 40x60 hay shed, a pole barn with calving pens, and other utility and livestock sheds. The site also has an excellent setup for animal pens with good fencing and automatic waterers. There are permanent wind breaks set up, along with good shelter from mature trees. The acreage includes 1.91 acres on the South end enrolled into 2 CRP contracts with an annual payment of $396. This is an exceptional acreage ideal for country living enthusiasts, livestock producers or horse owners.

Address: 1525 200th St., Lake Benton, MN 56149

Tract II – 142 +/- Acres - According to FSA information, this farm has 139.38 cropland acres and is predominantly made up of strong Class I & II soils with a productivity rating of 90.6, according to Surety AgriData. The land has 2 Allete wind towers that have produced an average annual payment of approx. $2,000 per tower. The buyer will receive a $2,500 wind payment credit at closing, and assume the full payments beginning in 2022. The land also has approx. 13,000 ft. of drain tile. This parcel will be offered separate or together with Tract I.

Legal Description: NW ¼ Exc. Acreage, in Sec. 14, T-110-N, R-46-W, Drammen Twp., Lincoln Co., MN

Tract III – 80 +/- Acres - According to FSA information, this farm is nearly all tillable and is predominantly made up of Class II soils with a productivity rating of 76.5, according to Surety AgriData. This farm has approx. 4,000 ft. of drain tile. The farm joins Tract IV and will be offered separate or together.

Description: S ½ of S ½ of NW ¼ & N ½ of N ½ of SW ¼, Sec. 11, T-110-N, R-46-W, Drammen Twp., Lincoln Co., MN

Tract IV – 110 +/- Acres - This parcel is predominantly made up of Class II soils with a productivity rating of 82.7, according to Surety AgriData. The farm has 84.61 cropland acres according to FSA Information, and is currently being utilized for exceptional pasture. This tract also has approx. 6,000 ft. of drain tile, and is sold with existing fencing and corrals. This parcel will be offered separate or together with Tract III.

Description: N ½ of NW ¼ & 30 Acres in S ½ of NW ¼, Sec. 11, T-110-N, R-46-W, Drammen Twp, Lincoln Co, MN

Description

Terms

10% non-refundable earnest money deposit due day of sale; balance due on or before April 30th, 2021 for land. If Tract I is sold separate, closing will be on or before June 1st. If acreage sells with the land, the sellers will retain possession of acreage to June 1st. All four tracts will be offered as a unit. Closing fees split 50/50 between buyers & sellers. Sellers will pay all RE taxes payable in 2021. Buyer will receive the full 2021 CRP payments for Tract 1, & a $2,500 credit at closing for estimated half of wind tower payments on Tract II. $2,000 average annual payment per two active towers, $750 annually payment for one deconstructed tower. Land buyer(s) will have immediate possession. Properties are sold subject to easements, restrictions, if any, and sold subject to confirmation of owners. If tracts are sold individually, surveys will be provided. Tracts 3 & 4 will be surveyed to fence line. Total acres for each tract may vary dependent on survey, and total cropland acres per the FSA Office may very if parcels sell separate. Information contained herein and all statements made herein are believed accurate but not guaranteed. Sellers do not guarantee fences lie on true boundary lines. New fencing, if any, is buyer’s responsibility. CRP & Wind Tower contracts are provided; new buyer will assume contracts. Future payments are not guaranteed by sellers. Live & online bidding available, additional terms for online bidders applicable. The residence and buildings are being sold “as is” and any prospective purchases will waive disclosure upon execution of the purchase agreement. Buyers are therefore encouraged to make arrangements to view the residence and buildings prior to the time of the auction. Earnest money deposit(s) to be made out to trust account for Glen Petersen, Attorney at Law & closing attorney. Auctioneers represent the sellers in this transaction.

Owner

Jon & Blair Caraway

Additional Information

GLEN PETERSEN, ATTORNEY AT LAW, 507-247-5515 – CLOSING ATTORNEY