Johnson County, Iowa Land Auction - Mark your calendars for Friday, November 22nd, 2024. Peoples Company is proud to present 80.55 surveyed acres for auction, located partially within the city limits of Iowa City, along Interstate 80 in Johnson County, Iowa. This prime, tillable transitional development farmland is offered as a single tract through a TIMED ONLINE ONLY auction. Bidding is now live and will close on Friday, November 22nd, 2024, at 5:00 PM EST.

This property boasts an excellent location just outside the Iowa City corridor, neighboring the Northgate Development Complex, home to many esteemed businesses. With frontage on Interstate 80 and convenient access to Highway 1 toward Solon, IA, these 80.55 acres are an ideal addition to an existing farming operation, a solid investment for portfolio diversification, or a perfect site for your dream home, just minutes from Iowa City.

The 80.55 acres feature approximately 71.72 tillable acres, with a strong average CSR2 rating of 72.9. Predominant soil types include Colo-Ely Complex and Fayette Silt Loam. The farmland is available for the 2025 cropping season. A wooded creek runs through the property, offering an ideal opportunity for future tile improvements while serving as a wildlife corridor.

Billboard

A large commercial billboard owned by Gaskill Signs is also located on the property. Measuring 24' x 124', the billboard provides potential advertising space or an additional revenue stream, currently generating $1,400 annually. For more information regarding the lease, please contact the listing agents.

Building Site

Approximately more than 40 acres of this tract lie within Iowa City's limits with an Office Research & Development Center zoning. The 34.82 acres labeled as parcel 0831351003 are eligible for an agricultural dwelling exception so that a buyer can build on this parcel, this will require review by the Johnson County Planning and Zoning Board due to its size. That parcel is zoned Rural Residential. The parcel offers excellent potential for an agritourism-based business. For details, please contact Johnson County Planning and Zoning at 319-356-6083. Buyers are encouraged to conduct their own due diligence before bidding. The farm is a 1/4 mile off of a hard surface road.

Driveway Access

The current access point to the property is at the southeast corner. A driveway entrance application has been submitted to secondary roads, and several proposed driveway locations have been marked. The new buyer will have the opportunity to select their preferred driveway location, with installation to be the buyers responsibility.

Don't miss this opportunity to acquire a high-quality Johnson County farm with transitional development potential, ideally situated along Interstate 80 and within the Iowa City limits. Whether expanding your farming operation, enhancing your investment portfolio, or starting an agricultural venture, this property offers proximity to the Iowa City metro area. Reach out to the listing agents for more information. Bidding ends on Friday, November 22nd, 2024, at 5:00 PM EST.

*All information provided is deemed reliable but not guaranteed. Buyers are encouraged to conduct independent investigations of the property prior to bidding.

Features

Distance;

Solon - 13 Min

North Liberty - 17 min

Tiffin - 15 min

Wilsons Orchard - 7 min

Downtown Iowa City - 13 Min

Coral Ridge Mall - 11 Min

University of Iowa - 11 Min

Mercy Hospital and Clinic of Iowa City - 12 Min

Annual Average Daily Traffic Counts:

U.S. Interstate 80 at Highway 1 - 47,500 (2023)

Highway 1 at Exit 246 to Iowa City - 20,600 (2023)

(Data Acquired from US Census)

Iowa City & Cedar Rapids Metropolitan Statistical Area (7 counties)

Total Population - 489,427 m/l

Total Workforce - 337,193 m/l

Auction Details & Terms

Johnson County, Iowa Land Auction

80.55 Surveyed Acres M/L

Bidding Ends: Friday, November 22nd, 2024, at 5:00 P.M.

ALL BIDS WILL BE ON A PRICE-PER-ACRE BASIS

How to Bid: Open 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.

Online Bidding: Register to bid on our website. Potential bidders will be accessing this auction online 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.

Co-Brokers: Participating brokers must register the client 24 hours before the Auction date by filling out our Broker Registration Form.

Auction Method: This property will be offered as one individual tract. All bids will be on a price-per-acre basis. A bid placed within 3 minutes of the scheduled close of the auction will extend bidding by 3 minutes until all bidding is completed. If you plan to bid, please register 24 hours before the auction date. Under no circumstances shall 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.

Agency: Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Farm Program Information: Farm Program Information is provided by the Johnson County Farm Service Agencies. 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 Johnson County FSA and NRCS offices.

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

Closing: Closing will occur on or about Friday, December 20th, 2024. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer.

Possession: Possession will be granted at closing, subject to tenant's rights.

Farm Lease: The farm lease has been terminated and the lease is open for the 2025 cropping season.

Hunting Lease: The hunting leases have been terminated and the hunting rights are open for the 2024 hunting seasons.

Survey & Staking: No additional surveying or staking will be provided by the seller.

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

Financing: The purchasers obligation to purchase the Property is unconditional and is not contingent upon the Purchaser obtaining financing. Any financial arrangements are to have been made before bidding at the auction. By the mere act of bidding, the bidder makes a representation and warrants that the bidder has the present ability to pay the bid price and fulfill the terms and conditions provided in the Contract.

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: 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 Seller. 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 Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auction Company.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller 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 during 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 Abstract.