Johnson County, Iowa Land & Real Estate Auction - 69.37± Acres

Farm Auction in 3015 Wapsi Avenue NE Iowa City, IA 52240, Iowa City, Iowa, United States

21 Tuesday
21st July, 2020 4:00 PM

Johnson County, Iowa Land & Real Estate Auction - 69.37± Acres

Farm Auction in 3015 Wapsi Avenue NE Iowa City, IA 52240, Iowa City Iowa, United States

Tuesday at - 21st July , 2020


TERMS & CONDITIONS All items sold AS IS WHERE IS. Payment (Cash or Check) must be made sale day before removal of items. Announcements made sale day take precedence over all previous advertising. Titles (if any) will be mailed to buyers within two weeks of auction date. A document fee of $35 applies to all titled vehicles.  

International buyers please check your importing regulations prior to bidding. Real Estate terms and conditions will vary per auction.    



Steffes Auctioneers Inc.

2000 Main Avenue East

West Fargo ND 58078-2210

Phone: (701) 237-9173(701) 237-9173

Toll Free: (800) 726-8609(800) 726-8609

Fax: (701) 237-0976

E-Mail: [email protected]  [email protected]


Scott Steffes ND81 & MN14-51

Bob Steffes ND82 & MN14-09

Brad Olstad ND319 & MN14-70

Clark Sather ND463 & MN54-05      


Scott Steffes, Broker

Rodney Steffes, Licensed Sales Associate

Geri Paul, Licensed Sales Associate

Ashley Huhn, Licensed Sales Associate    


Steffes Auctioneers Inc

24400 MN Highway 22 South

Litchfield, MN 55355

Phone: (320) 693-9371(320) 693-9371  

Fax: (320) 693-9373

Email: [email protected]

[email protected]

[email protected]

[email protected]


Eric Gabrielson, MN47-006, ND890

Ashley Huhn, MN47-002, ND843

Randy Kath, MN47-001, ND894


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Location has been calculated by address and may not be 100% accurate.

Auction Items For Sale

69.37 Acres M/L to sell in One Tract! Buyer to Receive Half of the Cash Rent! For information contact Nate Larson at Steffes Group, 319.385.2000 or 319.931.3944.




From Interstate 80 Exit 246, proceed ¾ mile north on Highway 1, then 2 ½ miles north west on Rapid Creek Road, then ½ mile south on Wapsi Avenue to 3015 Wapsi Avenue NE, Iowa City, IA.


Bidding Opens: Tuesday, July 21    

Bidding Closes: Tuesday, July 28, 2020 at 4PM

Open House on Tuesday, July 14th from 4-5PM


69.37 Acres M/L – Sells in 1 Tract

Buyer to Receive Half of the Cash Rent!


69.37 Taxable Acres M/L with 52’x48’ Building & Home

Don’t miss your opportunity to purchase this tract of land within minutes of Iowa City! Featuring tillable farmland along a hard surface road with a 52’x48’ building and a 1,440 sq.ft. berm home.

  • 52’x48’ insulated building offers a 36’x48’ shop area and a 16’x48’ tool room area. The tool room has Thermolec radiant in floor heat (closed system).
    One bay of the shop has concrete floors with a walk down work pit
    Second bay of the shop has rock floors for heavy crawler equipment.
  • (2) 12’6”x13’ overhead doors
  • 1,440 sq.ft. berm home built in 1978 and has a 24’x20’ detached garage
  • The home is on a well

Approx. 52 acres tillable.
Corn Suitability Rating 2 of 61.5 on the tillable acres.
Located in Section 28, Graham Township, Johnson County, Iowa.

Any items present on the day of closing.
Not included: 2020 crops, Air compressor, Fuel tanks, All personal property.

Real Estate Taxes:

Gross                  $4,299.06

Ag. Credit               ($31.17)

Net (Rounded)    $4,268.00


Terms:10% down payment on July 28, 2020. Balance due at final settlement with a projected date of September 11, 2020, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: September 11, 2020. (Subject to tenant’s rights on tillable land)

Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years.


Special Provisions: 

  • This online real estate auction will have a 10% buyer’s premium, capped at $1,000. This means the buyer’s premium in the amount of ten percent (10%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.  The maximum buyer’s premium charge will be $1,000.
  • Bidding on the Tract will be by the taxable acre. The multiplier used will be the taxable acres of 69.37.
  • Down payment is due on the day the bidding closes and signing of the contracts will take place through email and electronic document signatures.
  • The tillable land is rented for the 2020 farming season. The buyer will receive the second half rent payment from the tenant, as follows: $5,200 due October 1, 2020.
  • It shall be the responsibility of the buyer to serve the tenant termination notice prior to September 1, 2020, if so desired.
  • It shall be the obligation of the buyer to report to the Johnson County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs. Please note final tillable acres will be determined by the FSA office, as FSA fields are combined with other land not selling.
  • This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
  • Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.
  • There is a recorded easement, in favor of this tract of land, for vehicular ingress/egress and seasonal agricultural use of the private drive owned by the adjoining landowner to the south. View the easement here.
  • Due to this being an estate, the seller will be exempt from Time of Transfer Inspection of the septic, according to Iowa Code 455B.172(11). Any future inspections, upgrades, repairs, maintenance or other matters to the septic system will be at the buyer's expense in accordance with Johnson County & Iowa Laws & regulations.
  • Buyer will be responsible for installing their own entrance, if needed or desired.
  • If in the future a site clean-up is required, it shall be at the expense of the buyer.
  • There is a Fence Agreement recorded April 1, 2015 pertaining to the northwest part of said property. All other fencing the buyer shall be responsible for in accordance with Iowa state law. View the Fence Agreement here.
  • This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
  • The buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
  • Steffes Group, Inc. is representing the Seller.
  • Any announcements made the day of sale take precedence over advertising.


Don't miss your chance to bid on Dump Trucks, Motorcycles, Motorhome, Equipment & more, also up for auction on July 28 by clicking HERE


Owners: Michael Robert Dewey Estate & Joan Dewey

Jay W. Sigafoose - Attorney for Sellers


For information contact

Nate Larson at Steffes Group, 319.385.2000 or 319.931.3944