What makes this opportunity even more attractive is the flexibility it offers. The current landowner is willing to lease the property back making this an ideal situation for investors seeking reliable rental income with a built-in tenant who knows and respects the land.

The seller is open to renting the land back on a 3 year lease. Call the agents to discuss potential lease terms and conditions.

The seller will have a manure easement on property, giving the seller the right to apply manure to the property in the future.

The seller has applied fall chemical and fertilizer to the land in preparation for the 2026 crop year. If the seller is not the operator/renter of the land for the 2026 crop year, the seller will be reimbursed by the buyer for the cost of the chemicals and fertilizer that were applied. The seller will provide receipts.

The seller has removed the farmstead buildings and trees that appear on some of the maps to increase the number of tillable acres to 77.89.

There is a ditch on the west and south sides of the property to provide easy drainage.

Whether you're looking to expand your operation or add a premium farm to your investment portfolio, this parcel checks all the right boxes: productive soils, a clean layout, and excellent access in a proven farming area.

How to Bid? Online Only Auction

Open up the Peoples Company auction you are interested 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.

If you have any questions about the property or the auction process please contact the listing agent.

Improvements: This land does have drain tile but it is not pattern tiled. There are tile maps in the attachments.

Reserved Items:The seller will have a manure easement on the property, which will give the seller the right to apply manure to the property in the future.

Auction Details & Terms

Auction Location Map

80.39 Acres M/L

Offered as One Tract

Tuesday, December 2, 2025 at 10:00 AM CST

Auction Location:

American Legion

142 N. Broadway Ave

Albert Lea, MN

Sellers: Private Sellers

Auction Method: This one tract will be offered via Public Auction and will take place at 10:00 AM on Tuesday, December 2nd, 2025, at American Legion, 142 N. Broadway Ave, Albert Lea, MN. The farmland tract will be sold on a per-acre basis through a traditional auction method. This auction may also be viewed through a Virtual Online Auction option and online bidding will be available.

Tract 1: 80.39 Acres M/L NW1/4 of 27-154-68

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 Seller. 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 Faribault County Farm Service Agency. The figures stated in the marketing material are the best estimates of the Sellers 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 Faribault 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 wire transfer or check. All funds will be held in the Wagner Oehler, LTD. Trust Account.

Real Estate Taxes: The Buyers will be responsible for all the 2026 total real estate taxes.

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

Closing: Closing will occur on March 5, 2026. The balance of the purchase price will be payable at closing in the form of wire transfers.

Possession: Possession of the land will be given at Closing.

Farm Lease: The farm is not leased for the 2026 crop season.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Wagner Oehler, LTD., 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. Seller will convey 100% of whatever mineral rights are owned by the Seller without warranty.

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 Sellers. The winning bidder acknowledges that they are representing themselves in completing the auction sale transactions. Any announcements made on auction day by the Auctioneer or Listing Agents 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 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. Buyers 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. Exact legal description will come from Title Commitment.