Virtual Online Auction
Sale Date: Wednesday, March 15, 2023
Sale Time: 10:00 AM CST
Seller: Hoenig Family Farms
138.3 Acres± • 3 Tracts
ALL TRACTS SOLD!
Tract 1 – $10,600.00 per acre
Tract 2 – $8,500.00 per acre
Tract 3 – $4,250.00 per acre
TOTAL – $827,436.00
LOCATION
The Hoenig Farms are located in Sections 1, 2 & 14, Jefferson Township, Lee County, Iowa, within close proximity of the city limits of Ft. Madison, Iowa.
Tract 1 is located on Bluff Rd. northwest edge of Ft. Madison, Iowa. Tract 2 is located at the west of Ft. Madison, Iowa north of Ave. O (U.S. Hwy. 61 Business).
To access Tract 3 go west in Ft. Madison, Iowa on Ave. O (U.S. Hwy. 61 Business) to 270th Ave. turn left or south and proceed 1¾ miles to 240th St. Turn right or west and go 1 mile to 265th Ave. Turn right or south and proceed ¾ mile to the parcel.
TRACT INFORMATION
Tract 1 • 19.41 Surveyed Acres±
• FSA information should indicate 17.00 acres of tillable crop land. The balance of the parcel is in a wooded area in the western portion.
• Productive Richwood, Festina & Koszta soils.
• CSR2 is 82.2!
• This tract has unlimited possibilities and has high traffic exposure on U.S. Hwy. 61.
• Access is on the north by Bluff Rd.
Tract 2 • 27.39 Surveyed Acres
• FSA information should indicate 27.79 acres of tillable crop land. The balance of the parcel is in a wooded draw in the western portion.
• Richwood, Koszta & Dickinson soils.
• CSR2 is 77.5.
• This tract has unlimited development/ business potential and has high traffic exposure on U.S. Hwy. 61. The tract is conveniently in close proximity to a major automobile dealership and a large medical facility.
• PLEASE NOTE: The access for this tract has been from the south off of Business 61 (Avenue O) for years. However, it has been discovered that this is not a legal access. It will be the buyer(s) responsibility and expense to acquire their own legal access. For complete details contact the auction managers.
Tract 3 • 91.50 Deeded Acres±
• FSA information should indicate 81.14 acres of tillable cropland including 5.89 acres in CRP with a payment of $214.21 per acre expiring 2030. The balance of the tract is in wooded draws.
• Soils include Cantril, Dickinson & Sparta.
• CSR2 is 51.9.
• Access is on the west by 265th Ave.
METHOD
The Hoenig Farms will be sold in 3 individual tracts. All tracts will be sold on a price per acre basis through the marketing method of “Buyer’s Choice”, whereas the high bidder has the privilege to take any or all tracts for their high bid. Buyer’s Choice auctioning will continue until all 3 tracts have been sold. The farms will NOT be offered in its entirety or in any combinations. Bidding is NOT contingent upon financing, an appraisal or inspection.
TERMS
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 17, 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. All tracts sell with full farming rights for the 2023 crop year.
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.
Warren Hoenig Estate & Rebecca Hoenig, Executor
and Roger & Laura Hoenig – Sellers
Representing Attorney:
R.L. (Dick) Fehseke, Jr.
Fehseke & Gray Law Offices
1023 Ave G
Ft. Madison, IA 52627
(319) 372-7181
Auction Representatives:
Jim Huff (319) 931-9292
John Probasco (641) 856-7355
