James G. Milani Estate

Tract 1 • 10 Acres± (Subject to survey)

• FSA information should indicate 8.04 acres of tillable cropland, currently in hay production.
• Weller, Pershing & Keswick soils.
• CSR2 is 56.6.
• This tract offers an attractive home building site and is in close proximity to Lake Rathbun.
• Access is on the east by Boyer Ridge Rd.

Tract 2 • 10 Acres± (Subject to survey)

• FSA information should indicate 7.41 acres of tillable cropland, currently in hay production.
• Pershing, Weller & Armstrong soils.
• CSR2 is 61.7.
• This tract offers an attractive home building site and is in close proximity to Lake Rathbun.
•  Access is on the south by 458th St.

Tract 3 • 96.9 Taxable Acres± 

• FSA information indicates 74.78 acres of tillable cropland, currently in row crop production.
• Pershing, Weller & Mystic soils.
• CSR2 is 59.8.
• The wooded draws and the (2) ponds located on this tract offer desirable recreational acreage.
• Access is on the north by 458th St.

Tract 4 • 157.72 Taxable Acres± 

• FSA information indicates 99.16 acres of tillable cropland, currently in row crop and hay production.
• Olmitz-Vesser- Colo, Mystic & Armstrong soils.
• CSR2 is 48.8.
• The balance of the farm is in pasture and wooded draws offering desirable hunting/ recreational acreage. There is a small pond and an older storage building located on the property. This tract offers several attractive home building sites and is conveniently located just north of Centerville, IA with hard surface road access.
• Access is on the west by St. Hwy 5.

Tract 5 • 81.58 Taxable Acres± 

• FSA information indicates 38.71 acres of tillable cropland, currently in pasture land.
• Olmitz-Vesser-Colo, Keswick & Lindley soils.
• CSR2 is 39.2.
• The balance of the farm is in wooded areas & wooded draws offering attractive hunting/ recreational acreage. This parcel is nicely located in close proximity to Sundown Lake.
• This parcel is improved with (3) ponds, several tire waters and an older home & outbuildings. Rathbun Rural Water is located on this tract.
• Access is on the north by 450th St.

Tract 6 • Country Acreage & 2.2 Taxable Acres±
Physical Address: 19229 Hwy 5, Centerville, IA 52544

• This tract is improved with a ranch style home that features (2) bedrooms and a single bath offering 2,752 sq. ft. of living area. There is a full basement, GFA furnace and central air. Other improvements include a 30’ x 60’ Morton storage building that has a concrete floor, is insulated and has heat.
• This acreage has a ton of potential and has a great location just north of Centerville, IA with hard surface road frontage.
• Access is on the east by St. Hwy. 5.
• Open House: Monday, February 27 • 4:30 – 6:00 PM

The Milani Estate Farms will be sold in 6 individual tracts. Tracts 1 – 3  will be sold first and will be sold on a price per acre basis through the marketing method of Buyer’s Choice, whereas the high bidder can take any or all tracts for their high bid. Buyer’s Choice auctioning will continue until all 3 tracts have been sold. Tracts 4 & 5 will be sold next in numerical order on a price per acre basis. Tract 6 will be sold last for a Lump Sum, total dollar amount. The farms will NOT be offered in its entirety or in any combinations. Bidding is NOT contingent upon financing, an appraisal or inspection.

Ten (10%) percent of the bid price to be due on the day of sale with the balance due in approximately 30 days, on or before Monday, April 10, 2023 upon delivery of a merchantable abstract and deed. 

At the conclusion of the auction, the successful bidder(s) shall enter into a written agreement with the seller. Signing of said agreement will be executed via email or DocuSign. The real estate taxes will be prorated to the date of closing. Full possession will be given at the time of closing. Tract 6 is  serviced by a private septic system and are subject to the Iowa Septic System Law, they are exempt from any testing or upgrades, any future testing or upgrades will be at the buyer’s expense. For details contact the auction company.

The information in this brochure is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its “as is” condition and there are no expressed or implied warranties pertaining to the real estate. All announcements sale day shall take precedence over any prior advertising either written or oral.

James G. Milani Estate
Greg Milani – Executor

Representing Attorney:
James R. Underwood
Underwood Law Office
202 N. 12th Street
Centerville, IA 52544
(641) 856-2204

Auction Representatives:
John Probasco (641) 856-7355
Jim Huff (319) 931-9292