Wilkin County, Minnesota Farmland On-Line Only Auction! Mark your calendar for Thursday, May 15th, 2025 at 8:00 AM (CDT) when bidding opens! Bidding will close on Tuesday, May 20th, 2025 at 10:00 AM (CDT)! Peoples Company is honored to represent the Burton Louis Gewalt Trust in selling 230.65 acres m/l of prime farmland in Wilkin County, Minnesota. This land will be sold as two tracts and it will be an ONLINE ONLY AUCTION. Tract 1 is 80 deeded acres with 78.67 FSA cropland acres m/l carrying a Productivity Index of 95.5! Soil types include Doran clay loam, Mustinka silty clay loam, Aazdahl clay loam, Perella silty clay loam, and Antler clay loam. Tract 2 is 150.65 deeded acres with 132.53 FSA cropland acres m/l carrying a Productivity Index of 93.9! Soil types include Aazdahl clay loam, Doran clay loam, Doran-Mustinka silty clay loams, Perella silty clay loam and Zell-LaDelle silt clay.

This auction offers a rare opportunity to establish or expand your row-crop operation or secure a top-grade land investment near the Minn-Dak beet plant. This property is ideally situated adjacent to Highway 75, providing smooth transportation for hauling crops to the Minn-Dak plant or grain elevators nearby.

Over 91% of the land is tillable and contains extremely productive soils, this farm will be a highly desirable add-on to an existing farming operation or a smart investment for the investor buyer looking to diversify their portfolio or hedge inflation.

The auction will be conducted on the Peoples Company Bid Wrangler auction platform. The bidding will open on Thursday, May 15th, 2025, at 8:00 AM (CDT) and will conclude on Tuesday, May 20th, 2025, at 10:00 AM (CDT). Any bid placed in the final three minutes of the auction will extend bidding for an additional three minutes on all tracts. The farm will be sold on a price-per-acre basis. Take advantage of this opportunity to own a piece of prime Wilkin County, Minnesota farmland.

**The farm is under lease for the 2025 growing season. The buyer will receive the second half of the cash rent. The total second-half rent amount is $20,064.00 and is due on November 1, 2025. (Tract 1 rent payment to buyer = $7,473.65. Tract 2 rent payment to buyer = $12,590.35) The buyer will also be responsible for half of the 2025 real estate taxes.

How to Bid? Online Only Auction

Open up the Peoples Company auction you are interested in on our website. Click on any of the bid now icons within that auction. This will take you to our Online Bidding platform. Find the auction you wish to participate in and select it. To participate in that auction click register to bid. From there you will need to create a bidder account. Once that is created you can bid on any of our Online Auctions.

Auction Details & Terms

Wilkin County, MN Farmland Auction - ONLINE ONLY!

230.65 Acres M/L (Offered in two tracts)

Auction Date:

Bidding Opens: Thursday, May 15th, 2025 at 8:00 AM (CDT)

Bidding Closes: Tuesday, May 20th, 2025 at 10:00 AM (CDT)

ONLINE ONLY AUCTION!

Sellers: Burton Louis Gewalt Living Trust

Auction Method: The two tracts will be offered via an ONLINE ONLY AUCTION. Bidding will open on Thursday, May 15th, 2025 at 8:00 AM (CDT) and will end on Tuesday, May 20th, 2025 at 10:00 AM (CDT). The two farmland tracts will be sold on a "per deeded acre" basis. A bid placed within 3 minutes of the scheduled close of the auction will extend bidding on all tracts by 3 minutes until all the bidding is completed. If you plan to bid, please register 24 hours prior to the close of the auction. Under no circumstances shall a Bidder have any kind of claim against Peoples Company or its affiliates if the internet service fails to work correctly before or during the auction. Tracts will not be combined and offered in their entirety after the auction.

Tract 1: S1/2 SW1/4 in 15-133-47 in Wilkin County, MN (80 acres m/l).

Tract 2: Govt Lots 1-2 & 3 & E1/2 of NE1/4 Ex Aud S.L. & Ex Hwy & Ex 8.91A in NE1/4 of NE1/4 & in Govt Lot 1 in 21-133-47 in Wilkin County, MN (150.65 acres m/l).

The exact legal descriptions will be taken from the abstracts.

Online Bidding: Register to bid on our website. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide a slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction. Peoples Company and its representatives are agents of the Sellers. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Financing: The buyer's obligation to purchase the Real Estate is unconditional and is not contingent upon the Buyer obtaining financing. All financial arrangements are to have been made before bidding at the auction. By the mere act of bidding, the bidder makes the representation and warrants that the bidder has the present ability to pay the bid price and fulfill the contract.

Farm Program Information: Farm Program Information is provided by the Wilkin County Farm Service Agency. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company. However, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Wilkin County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest payment is required on the auction day. The earnest money payment may be paid in the form of cash or check. All funds will be held in the The Title Team Trust Account.

Real Estate Taxes: The Buyer(s) will be responsible for half of the 2025 real estate taxes.

Survey: No additional surveying or staking will be completed by the Seller.

Closing: Closing will occur on or before June 30, 2025. The balance of the purchase price will be payable at closing in the form of cash, guaranteed checks, or wire transfers.

Possession: Possession of the land will be given at closing, subject to tenant's rights associated with the current cash rent contract.

Farm Lease: The farm is leased for the 2025 crop season. The buyer(s) will receive the 2nd half of the 2025 cash rent. The total 2nd half payment is $20,064.00 due on November 1, 2025.

Tract 1 2nd half rent payment = $7,473.65

Tract 2 2nd half rent payment = $12,590.35

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with The Title Team, the required earnest money payment. The Sellers will provide a current abstract at their expense. The sale is not contingent upon Buyer financing.

Mineral Rights: A mineral title opinion will not be obtained or provided, and there will be no guarantee as to the ownership of the mineral interests on all tracts. All mineral rights of record will transfer to the buyer(s).

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.

Other: The sellers will have the right to accept or reject any and all bids. This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an As is Where is basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Sellers. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on auction day by the Auctioneer or Listing Agent will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final. Potential bidders may have access to the live online auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide a slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Sellers and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her investigation of the property before bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from the Abstracts.