Tracts 3 & 4 of the Auwaerter Farms are generally located 2 1/2 miles east of Argyle, Iowa. The farms are further described as being located in Sections 2 & 11, Des Moines Township, Lee County, Iowa. To access Tracts 3 & 4, just south of Argyle, Iowa, turn left or east off of Hwy. 27 onto 300th Street (J72), then proceed 3/4 mile to 190th Ave., then turn left or north and proceed 1/2 mile to 295th Street, then turn right or east and proceed 1/2 mile to 195th Ave, then turn left or north and proceed 1/2 mile to 290th Street, then turn right or east and go 1 mile to both tracts.

The Auwaerter apartment building is located at 100 Main Street, Montrose, Iowa. Further described as Block 1, Lot 22 of the original plat to the city of Montrose, Iowa.

SELLER

Dale W. & Ella M. Auwaerter

MANAGED BY

Jeff Hoyer (319) 759-4320

OPEN HOUSE

Apartment Building

Tuesday, August 13th 4:00 - 5:30 PM

GENERAL INFORMATION

586.25 surveyed acres 4 tracts Apartment Building

Mark your calendars now for this late summer Lee County, Iowa land auction. The Auwaeter Farms represent very productive nearly 100% tillable tracts of land as well as a combination of tillable and hunting/recreational tracts. Also included on this auction is an income producing 4-unit apartment building. Don't miss this chance to start in or add several acres to a new or existing farming operation, plus the opportunity to purchase an income producing property in the quaint small town of Montrose, Iowa.

TRACT INFORMATION

Tract 1 39.25 Surveyed Acres

Physical Address: 2585 239th Ave., Montrose, Iowa

FSA figures indicate 34.77 cropland acres

Major soil types are Bertrand, Okaw and Hoopeston

CSR2 (tillable acres) is 64.5

This tract has several improvements including a 48 x 72 Morton machine shed, a 52 x 78 pole barn, a 50 x 62 pole barn with a 16 lean-to, older hog building and 6,500 bushels of grain storage

This highly productive tract is nearly 90% tillable

Access is on the east off of 239th Avenue

Tract 2 195.71 Surveyed Acres

FSA figures indicate 188.31 cropland acres

Major soil types are Sparta, Richwood and Dickinson

CSR2 (tillable acres) is 46.0

This tract sells complete with a 2008 Valley 8,000 Series, 9 tower irrigation system

This highly productive tract is nearly 100% tillable

Access is on the north off of 255th Street (J62) and on the west off of 239th Avenue

Tract 3 67.28 Surveyed Acres

FSA figures indicates 52.60 cropland acres

Major soil types are Weller, Galland and Pershing

CSR2 (tillable acres) is 51.3

This highly productive tract is nearly 80% tillable

Access is on the west off of 208th Avenue

Tract 4 284.01 Surveyed Acres

FSA figures indicates 168.19 cropland acres

Major soil types are Niota, Landes, Racoon and Nodaway

CSR2 (tillable acres) 62.8

This large combination tract is well over 50% tillable and offers many hunting and recreational type opportunities

Access is on the north off of 290th Street

Apartment Information

Physical Address: 100 Main Street, Montrose, Iowa

Open House: Tuesday, August 13th 4:00 - 5:30 PM

This historic 2 story brick building features (4) one bedroom all electric apartments, each with private entry. There is a storage area to the rear for the owners supplies and also a full basement. This 50 x 140 lot offers off street parking and a 18 x 24 metal carport for the tenants to use. Each apartment comes with appliances, partially furnished and two tenants currently in place. Come see us at the open house!

METHOD & TERMS

The Auwauerter Land will be sold in (4) four individual tracts. Tracts 1, 2, 3 & 4 will sell on a price per acre basis, based upon surveyed acres found in this brochure. Surveyed acres will be used to constitute the final settlement price. Tracts 1 & 2 will be sold through the marketing method of Buyers Choice whereas the high bidder can elect either or both tracts for their high bid. Buyers Choice auctioning will continue until both tracts have been elected. We will then sell Tracts 3 & 4 through the marketing method of Buyers Choice whereas the high bidder can elect either or both tracts for their high bid. Buyers Choice auctioning will again continue until both tracts have been elected. The tracts will NOT be offered in their entirety or in any combinations at the conclusion of the auction. We will then sell the apartment building for a Lump Sum, total dollar amount. Immediately following the auction, the successful buyer(s) will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing which will take place on or about September 10, 2024 upon delivery of a merchantable abstract and deed. Taxes will be prorated to the date of possession. Possession of Tracts 1, 2, 3 & 4 will be given at the time of closing, subject to harvest of all growing crops. Possession of the improvements on Tract 4 will be given at closing. Full possession will be given on the apartment building at the time of closing. Tracts 1, 2, 3 & 4 sell free and clear for the 2025 farming season & there are no hunting leases associated with any of the tracts.

Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property.

All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers, a BigIron company pertaining to this property. Real estate is being sold AS IS.

Dale W. & Ella M. Auwaerter

Representing Attorney: Gregory A. Johnson | Law Office of Gregory A. Johnson

516 7th Street, Fort Madison, Iowa 52627 | (319) 372-2532

Auction Manager: Jeff Hoyer (319) 759-4320