General Information: Here is a rare opportunity to purchase 160 acres of a combination of farmland, gravel pit, and Conservation Reserve Program (CRP) acres. The farm contains 68.57 row crop acres with a Crop Productivity Index (CPI) of 83.2. Lamoure silty clay loam, Hokan-Svea complex, and Barnes-Buse-Svea complex are the most common soil types. The farm contains 59.03 acres of CRP that pays an annual payment of $6,882 until 9/30/2022. The property also contains a gravel pit with existing piles and a wash area. There is potential for additional gravel to be mined from the property. The quality and quantity of gravel is unknown. Potential buyers can schedule an appointment with Northwestern Farm Management Company, Broker to perform a site evaluation and gravel boring to test the quality of gravel on the site.
Legal Description: NW ¼ Section 22-111-44 (Lake Stay Twp) Lincoln County, MN.
Farm Location: Property is located approximately 6 miles southeast of Ivanhoe or 3 miles northeast of Arco with good access along township gravel roads 260th avenue and 250th street.
Asking Price: $736,000 or $4,600/deeded acre
Deeded Acres: 160 more or less
Real Estate Taxes: 2019 taxes $4,136 (Non-Homestead)
Terms: 15% earnest money due with a signed purchase agreement. Possible farm split. Possession available after closing.