SOLD FOR $6,050 PER ACRE or 484,000.00
80 +/- ACRES DRAMMEN TWP., LINCOLN CO., MN LAND
We will offer at public auction the following land located from Lake Benton, MN 4 miles North on Hwy 75, 5 miles West on Hwy 13, 1 ½ mile North on Co Rd. 101/140th Ave. Located on East side of road in Sec. 10.
Excellent opportunity to purchase 80 +/- acres of good, predominantly tillable land with 3 active Wind Towers. Immediate possession for 2019! Good location, strong row crop farm, high return opportunities!
FRIDAY, APRIL 5th, 2019 SALE TIME: 10:00 A.M.
This 80 +/- acre farm represents an exceptional opportunity for a predominantly tillable row crop farm that produces strong yields, and would also generate a strong return with cash rent and 3 active wind towers. This farm is located in a strong agricultural area, has good access, and is 1 ½ mile(s) off a tar road. The farm has also recently had standard farm drain tile installed with approximately 7,375 ft. The farm has a strong Productivity Index rating of 90.6 and is predominantly made up of strong Class I & II Soils, Barnes-Buse Complex, Lakepark Clay Loam & Svean Loam, making this an exceptional corn & soybean farm. This farm was planted to both corn and soybeans in 2018, and according to the FSA Office the farm has 71+/- cropland acres with a corn PLC yield of 133 bu., and a soybean PLC yield of 30 bu. This farm had a shelter belt recently removed on the south end, and the 3 wind towers are with Allete Clean Energy. Average annual payment per wind tower has been approx. $2,000. For additional information on wind tower payments, please call Burlage Peterson Auctioneers. The farm is free and clear for 2019 crop year, and the new buyer will receive immediate possession after sale. Don’t miss this opportunity!
Legal Description: W ½ of NW ¼, Sec. 10, T-110-N, R-46-W, Drammen Twp., Lincoln Co., MN
For additional information contact the Auctioneers.
MAKE PLANS TO ATTEND THIS AUCTION AND COME PREPARED TO BUY!!!
TERMS: 10% non-refundable earnest money deposit due day of sale with balance due on or before May 3, 2019. Closing fee and title insurance split 50/50 between buyer and seller. The seller does not warranty or guarantee that existing fences lie on the true & correct boundary and any new fencing, if any, will be the responsibility of the purchaser pursuant to MN statutes. Seller will provide survey of boundary lines after sale, total acres may slightly very. Wind tower easements & right of way access easements apply. New buyer will receive immediate access for 2019 crop year. Seller will pay all 2019 RE taxes & new buyer will start receiving wind tower payments in 2020. Original wind tower easement is provided at top of page. This property is sold subject to easements and restrictions, if any, reservations and/or highways of record, and is sold subject to confirmation of owner. Information contained herein, and all statements made herein are believed to be accurate but not guaranteed. Any announcements made the day of the sale shall take precedence over written materials. Auctioneers represent the seller. Buyer or seller may elect to do a 1031 Exchange. Closing conducted through attorney, Glen A Petersen of Tyler, MN.
Wind tower easements are perpetual easements while energy is produced from turbines. Minimum payment of $750 per turbine is paid at beginning of year, with quarterly energy payments paid throughout the year. Energy royalties paid are 4%.
Provided from Allete Clean Energy: “The Grant of Wind Park Easement and Easement Agreement was executed on 3/4/1994. The rights granted in the agreement will terminate upon decommissioning of the wind farm. The easement agreement stipulates minimum rent will be paid to the landowner annually and along with quarterly royalty payments based on receipts from the sale of electricity generated by the wind turbines located on the property. The minimum rent and quarterly royalty payments, on average, are approximately $6,300/year.”