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Auction Information
Auctioneer Rubey Realty 712-623-2724
Auction Date Nov 30 Auction
Elliot Community Bldg
403 Main Street
Elliott, IA
Time 10:00AM
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Auction Listing
AuctionZip Auctioneer ID# 46473
    Property Address    
236.87 Acres sold in 2 Tracts
Section 5, Sherman Township
Elliott, IA 51532


236.87 Acres m/l, 

Montgomery Co, IA

To Be Sold in 2 Tracts: 
Tract 1/100.28 A & Tract 2/136.59 A
Thursday, November 30, 2017      
10:00 am

Sale Site: Elliott Community Bldg, 403 Main St, Elliott IA


Farm Description: This Montgomery County farm is an example of excellent land stewardship. Through strategic use of terraces, waterways and buffer strips, as well as carefully placed acres of CRP, the owners have strived to control erosion and maintain income on the combination bottom land and hill land farm.

Farm Location: The farm is approximately 5 miles east and ½ mile north of Elliott, Iowa. It is bordered by M-47 on the east, 100th St. on the north and G Ave. on the west in Section 5, Sherman Township, Montgomery County, Iowa.


Taxable Acres: 236.87 comprised of Row Crop: 135.22 (USDA Crop Acres) 95.87% cropable; CRP: 49.57A @ $256.56/A = $12,718/yr until 9/30/27; 8.31A @ $179.72/A = $1488/yr until 9/30/22; 21.68A @ $154.14/A = $3342 until 9/30/19; Hay: 12.27 A wide grass headlands for hay


Gross Taxes: $6325/year     CSR: 72.6 (estimated)     Conservation Plan: corn/soybean rotation with minimum tillage



Rental Status: not leased for 2018 (tenant has been notified)   

General USDA FSA Info: Corn Base: 83.5A  FSA Yield: 163 bu/A       Bean Base: 55.1 A FSA Yield: 48 bu/A


NOTE: The above information describes the entire farm of 236.87 acres (Tracts 1 & 2). If the tracts are purchased by different buyers, the USDA FSA will remeasure each tract and split cropland, base acres and CRP acres for each tract. The acre figures used below in this sale bill for crop, CRP, Headlands & Grass, Farmstead and Runway acres are estimates using Surety maps and are not guaranteed by the seller, auctioneer & staff or brokerage firm. Bidders are advised to do their own research. Announcements during the auction take precedence over all forms of advertising


TRACT 1: 100.28 taxable acres

Farm Description: Well-drained Walnut Creek bottom and well-terraced hill ground

Farm Location: Tract 1 is located in the E ½ of Section 5, Sherman Township, lying west of county road M-47.


CSR2: 78 (estimated per Surety maps)      


Taxable Acres: 100.28 comprised of Row Crop (Est. Acres): 77; CRP (Est. Acres): 15A @ $154.14/A until 9/30/19;     Headlands & Grass (Est. Acres): 8 acres


TRACT 2: 136.59 taxable acres

Farm Description: All upland farm with a ridge that is one-half mile running North/South where the airplane runway is located. The runway is approximately 4.09 acres and could be farmed. Both sides of the runway are terraced. There is an old farmstead encompassing 4.05 acres with 5 older grain bins, aircraft hangar and open-front shed remaining. The farmstead has 3 producing Northern Pecan trees, 2 apple trees and a pear tree. The farmstead could easily be cleared for farming or would make an excellent building site. There is a covenant on Tract 2 that prohibits the construction of any confinement livestock feeding facilities.

Farm Location: Tract 2 is located in the NW ¼ of Section 5, Sherman Township, lying east of county road G Avenue.


CSR2: 68.5 (estimated per Surety maps)      


Taxable Acres: 136.59 comprised of Row Crop (Est. Acres): 57.61; CRP (Est. Acres): 6.93A @ $154.14/A until 9/30/19;  8.31A @ $179.12/A until 9/30/22; 49.57A @ $256.56/A until 9/30/27; Headlands & Grass (Est. Acres): 6.03;   

 Farmstead (Est. Acres): 4.05; Runway (Est. Acres): 4.09


Terms: CASH with 10% down sale day, to be held in Broker’s Trust Account with balance due by wire transfer or cashier’s check at closing.     Closing: Closing and possession will be on or before January 10, 2018 at Rubey Realty’s office in Red Oak IA. Seller agrees to cooperate if buyer is doing an IRS 1031 Exchange.     Title: Seller will provide an updated abstract showing merchantable title. Sale of property is subject to all easements of record.     Inspections: Buyers should inspect property prior to the auction. Inspection period ends at the beginning of the auction. Agency: Rubey Realty and its representatives are SELLER’S agents.     Attention Bidders: Information in this bill was collected from sources deemed reliable.  Auctioneers and sellers assume no responsibility for its accuracy.  Bidders are advised to do their own research before the auction. Announcements on sale day take precedence over all other advertising.  Property sells “AS IS”.


Shields Farms LP, Owner


Rubey Realty – Broker     Clint Rubey – Auctioneer


 Phone:  712-623-2724      


Rubey Realty, 1000 N Broadway, Ste. 1, Red Oak IA 51566

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