Hofman – 93.48 Acres of Unimproved Prairie Twp., Union Co., SD Land

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Auction Description:

Hofman – 93.48 Acres of Unimproved Prairie Twp., Union Co., SD Land
Date/Time: January 21, 2025 @ 11:00 am
Location: On-Site
Auction Brochure: https://www.suttonauction.com/wp-content/uploads/2024/12/HOFMAN-FAMILY-TRUST-UNION-CO.-LAND-AUCTION-BROCHURE.pdf

LAND AUCTION

+/- 93.48 Surveyed Acres of Productive High Percentage Tillable Prairie Township Union County, SD Land – Situated in a Highly Regarded Agricultural Area Between Beresford, SD & Alcester, SD and Hawarden, Iowa

The Heirs of Harold E. Hofman (Hofman Family Trust) have authorized Sutton Auctioneers and Land Brokers the privilege to offer this productive parcel of land at public auction, with the auction to be held “On Site” at the land located from the Beresford, SD Exit #47 on I-29 – 1½ miles east through Beresford to 472nd Ave. (NE 13th St.)., then 1 mile south on 472nd Ave. to the Lewis & Clark Water Tower, then 1 mile east on 298th St. (Co. Hwy. 11) and ½ mile south on 473rd Ave. (the SE Corner of the land is located at the Jct. of 473rd Ave. & 299th St.

AUCTIONEERS NOTE: This auction presents an opportunity to purchase a parcel of land with a high percentage tillable and some potential hunting opportunities. This property has been in the Hofman family and has not been available for purchase for several decades, thus this auction presents what might be the opportunity of a lifetime to purchase this desirable parcel of Union County, SD land.

This land is under lease for the 2025 and 2026 crop year, thus The buyer will assume the existing cash rental farm lease – calculated as 90 acres at $250.00 per acre for a total annual cash rent of $22,500.00 per year, payable in the sum of $11,250.00 on 3/01/2025, $11,250.00 on 10/01/2025, $11,250.00 on 3/01/2026 and $11,250.00 on 10/01/2026; AS AN ADDITIONAL BENEFIT TO THE BUYER – The Sellers have agreed to pay a rental enhancement of $75.00 per acre over and above the $250.00 cash rental rate, thus the total rental rate to the buyer will actually be a total of $325.00 per acre – this enhanced rental rate of $75.00 per acre on 90 acres or $6,750.00 per year multiplied by 2 years for a total rental enhancement of $13,750,00 will be paid IN FULL to the Buyer at closing. Please mark your calendars and make plans to be in attendance at this auction. Chuck Sutton

This +/-93.48 acre surveyed unimproved farm will be offered as a unit. This farm has an extremely high percentage tillable. According to FSA information this farm has a total of approx. 89.95 acres of Farmland and approx. 89.95 acres of cropland, with a 68.41 acre corn base with a 133 bu. PLC yield and a 6.10 acre soybean base with a 53 bu. PLC yield and a 5.39 acre oats base with a 62 bu. PLC yield. The general topography of this land is level to gently rolling. This farm has a very high percentage of cropland and some productive soils, as information obtained from the Union Co. Assessor indicates that this parcel of land has a soil rating of a .742, comparatively information obtained from Surety Agri-Data Inc. indicates that this land has a weighted average productivity index of 72.1. The 2023 RE taxes payable in 2024 on this property were $2,290.08. This is a well located triangle shaped parcel of land bordered on the east by 473rd Ave , on the south by 299th St and on the west by a RR track. According to Union County Planning and Zoning this parcel has two rural housing eligibilities. This land is situated in a prominent agricultural area near Beresford SD and is very well suited to serve as an addition to an area row crop farming operation or as an investment.

LEGAL DESC.: The SE¼, Lying North and East of the RR ROW, Sec. 9, T. 95N. R. 50W., (Prairie Twp.), Union Co., SD.

TERMS: Cash – A 10% nonrefundable downpayment on the day of the sale and the balance on or before March 14, 2025 with landlord’s possession and full possession subsequent to the harvest of the 2026 crops. The buyer will assume the existing cash lease calculated as 90 acres at $250.00 per acre for a total annual cash rent of $22,500.00 per year, payable in the sum of $11,250.00 on 3/01/2025, $11,250.00 on 10/01/2025, $11,250.00 on 3/01/2026, $11,250.00 on 10/01/2026; AS AN ADDITIONAL BENEFIT TO THE BUYER – The Sellers have agreed to pay a rental enhancement of $75.00 per acre over and above the $250.00 cash rental rate, thus the total rental rate to the buyer will actually be a total of $325.00 per acre – this enhanced rental rate of $75.00 per acre on 90 acres or $6,750.00 per year multiplied by 2 years for a total rental enhancement of $13,750,00 that will be paid IN FULL to the Buyer at closing. Marketable Title will be conveyed and an owner’s title insurance policy will be provided with the cost of the owner’s policy and the closing agent’s fee to be divided 50-50 between the buyer(s) and sellers. All of the 2024 RE taxes payable in 2025 will be paid by the trust. The total acres being sold are being sold in accordance with a survey as completed by Midwest Land Surveying, Inc., with the acres understood to be “more or less”. All survey costs will be paid by the sellers. The sellers do not guarantee that existing fences lie on the true and correct boundary and any new fencing, if any, will be the responsibility of the purchaser(s) pursuant to SD Law. FSA cropland, yields, bases & other information is estimated and not guaranteed and are subject to county committee approval. Information contained herein is deemed to be correct but is not guaranteed. This property is sold in “AS IS” CONDITION and subject to any existing easements, restrictions, reservations or highways of record if any, as well as any or all Union County Zoning Ordinances. The RE licensees in this transaction are acting as agents for the seller. Sold subject to confirmation of the Trustee.

This is a productive high percentage tillable parcel of land that is located in an area of Union County where productive parcels of land of this caliber rarely come up for sale, and this is a parcel of land that is very well suited to serve as an addition to an area farming operation or as an investment. To make arrangements for absentee bidding or for other information contact the auctioneers.

HEIRS OF THE HAROLD E. HOFMAN & BARBARA J. HOFMAN FAMILY TRUST – Steven Hofman, Trustee

CHUCK SUTTON – Auctioneer & Land Broker – Sioux Falls, SD – ph. 605-336-6315

JARED SUTTON, CAI – Auctioneer & RE Broker Associate – Flandreau, SD – ph. 605-864-8527

TOM & TED SOUVIGNIER – Auctioneers & RE Broker Associates – Canton, SD – ph. 605-987-2404

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