465 +/- Acre Land Auction, Shaokatan Twp., Lincoln Co., MN

December 1, 2020 12:00 am

Lincoln County, MN

Directions

SOLD AS UNIT FOR $8,400 PER ACRE

Auctioneer Notes

This auction presents a rare opportunity to purchase up to 465 +/- acres of nearly all tillable land with 3 new wind towers currently being constructed. This land is located in a strong agricultural area, 3 miles from the South Dakota border. These farms have been in the Koopman family for many years. Now is the time if you are in the market for land that could serve as an outstanding addition to a row crop farming or investment portfolio. The three wind towers are anticipated to be completed by the end of 2020 or beginning of 2021 w/annual payments starting thereafter.

Overview

Tract I – 160 +/- Acres This nearly all tillable farm is made up of strong Class I & II soils with a productivity rating of 94.1, making this an excellent row crop farm. This farm has a gentle overall slope and excellent access w/ Hwy. frontage on Hwy. 16. This farm has two Xcel Energy 2.0 megawatt wind towers currently being constructed on the farm that will pay $7,000 per tower annually plus an annual acreage rent payment of $20 per acre. This farm joins Tract 2 and will be offered individually or as unit. Tracts 1 & 2 have 297.53 combined cropland acres.

Legal Description: SW ¼ of Sec. 15, T-111-N, R-46-W, Shaokatan Twp., Lincoln Co., MN

Tract 1A & 1B – 80 +/- Acres Tract 1 will be offered in two individual 80 +/- acre parcels or as unit. Each parcel will have 1 wind tower, and both are nearly all tillable with highway frontage and good access.

Legal Description: 1A - E ½ of SW ¼, 1B - W ½ of SW ¼, Sec. 15, Shoakatan Twp., Lincoln Co., MN

Tract II – 150 +/- Acres This nearly all tillable farm is made up of strong Class I & II soils with a strong productivity rating of 95.1, making this an excellent row crop farm. This farm has a gentle slope and excludes the acreage site on the NW corner. This individual tract does not have a wind tower but will receive an annual acreage rent payment of $20 per acre plus an access road payment of $2,599.50. This farm joins Tract 1 and will be offered individually or as unit. Tracts 1 & 2 have 297.53 combined cropland acres, per the FSA Office.

Legal Description: NW ¼ Exc. Acreage Site, Sec. 15, T-111-N, R-46-W, Shaokatan Twp., Lincoln Co., MN

Tract III – 155 +/- Acres This nearly all tillable farm is made up of strong Class I & II soils with a productivity rating of 95.8, making this an excellent row crop farm. According to the FSA Office, the farm has 148.06 cropland acres. This farm has a gentle overall slope and excludes the acreage site. This farm has one Xcel Energy 2.0 megawatt wind tower currently being constructed on the SE corner that will annually pay $7,000 plus an acreage rent payment of $20 per acre. This farm is located directly across the road from Tracts 1 & 2. This tract contains 3.38 +/- acres that are being conveyed in a perpetual easement to the land owners to the South. The 3.38 +/- acres represent the land in question per a boundary line correction, due to an established existing fence line in the wrong spot. The owners of the SE Quarter will have a perpetual easement for the 3.38 +/- acres and will continue to farm said acres, and have signed an easement and quit claim deed acknowledging that the owner of the NE 1/4, Tract 3, owns the land and is to receive the full wind tower payment originally allocated to said parcel. The easement and quit claim deed language is posted below along with a survey showing the boundary lines and existing fence line.

Legal Description: NE ¼ Exc. Acreage Site, Sec. 16, T-111-N, R-46-W, Shaokatan Twp., Lincoln Co., MN

Unit – 465 +/- Acres This unit consists of approx. 465 +/- total acres with a total soil productivity index rating of 95. According to the FSA office, the land has 445.59 cropland acres with a corn PLC yield of 149. This unit will be offered including Tracts 1, 1A & 1B, 2 and 3 & will have 3 wind towers constructed. The farms do have some drain tile.

For more information & sale terms contact the auctioneers. These farms would be an excellent addition to a row crop or investment portfolio. Don’t miss this sale and come prepared to buy!!!

Description

Terms

10% non-refundable earnest money deposit due day of sale, balance due on or before January 8, 2021. Closing fees split 50/50 between buyer & sellers. Sellers will pay all 2020 real estate taxes and buyers will have possession for 2021 crop year. This property is sold subject to easements and restrictions, if any, and is sold subject to confirmation of Trustee. Information contained herein and all statements made herein are believed accurate but not guaranteed. Wind tower lease and payment information posted online; payments to begin after completed construction. Total acre payment will be broken down to acres purchased. Total acres may depend on survey, and farms purchased will be price per acre listed. Sellers do not guarantee fences lie on true boundary lines. New fencing, if any, is buyer’s responsibility. If 1A & 1B are sold separate, boundary lines will be marked before closing. Wind tower payment is $7,000 per tower plus $20 per acre annually, w/ 2% annual appreciation. Wind tower leases w/ Xcel Energy will transfer to new buyer. Buyers responsible to conduct due diligence for tower information. All information stated is believed accurate but not guaranteed. Earnest money deposit(s) to be made out to trust account for John A. Engels, Attorney at Law & closing attorney. Auctioneers represent the sellers in this transaction.

Owner

HARVEY KOOPMAN TRUST & MURIEL KOOPMAN TRUST

Additional Information

First Bank & Trust Trustee, Marc Venekamp – Trust Officer JOHN A. ENGELS, ATTORNEY AT LAW, 507-275-3105 – CLOSING ATTORNEY AUCTIONEERS & REALTORS: TYLER & LENNY BURLAGE, JIM & SCOTT PETERSON BURLAGE PETERSON AUCTIONEERS & REALTORS, LLC 605-692-7102 OFFICE@BURLAGEPETERSON.COM 317 4TH ST., BROOKINGS SD 57006