TIMED ONLINE LAND AUCTION

2014 Old Highway 71 • Villisca, Iowa

120 Gross Acres M/L • 107.48 Net Acres

Washington Township • Sections 21 & 28

Montgomery County, Iowa

BIDDING BEGINS: Friday, September 11, 2026 at 10:00 AM
BIDDING ENDS: Friday, September 18, 2026 at 10:00 AM

ONLINE BIDDING AT WWW.SPENCERGROUPS.COM

PROPERTY HIGHLIGHTS

• 120 gross acres, more or less
• 107.48 taxable acres
• CSR2 of 76.5 on estimated tillable and CRP acres
• 85.24 acres currently enrolled in Forest Reserve
• Ranch-style home with 2 bedrooms and 1 bathroom
• Large, newer Machine shed with 2 smaller machine sheds
• Three stocked fishing ponds
• West Nodaway River frontage on the West side of property
• Excellent hunting, fishing and recreational opportunities
• Conveniently located near north of U.S. Highways 34 on Old Highway 71

DIRECTIONS TO THE PROPERTY

The property is located approximately 2½ miles north of the U.S. Highway 34 and U.S. Highway 71 interchange.

From Stanton, Iowa, travel 6 miles east on U.S. Highway 34. Turn north onto U.S. Highway 71 and continue approximately 2½ miles.

Signs will be posted.

PROPERTY INFORMATION

Gross Acres: 120 acres, more or less
Taxable Acres: 107.48 acres
CSR2: 76.5 on estimated tillable and CRP acres
Real Estate Taxes: $1,990, prorated to the date of closing
Forest Reserve: 85.24 acres currently enrolled. Contact agent or Montgomery county auditor for use restrictions for Forest Reserve

PARCEL NUMBERS

320821400008000
320821400010000
320821400014000
320828201001000
320828226001000

LEGAL DESCRIPTION

SE ¼ SE ¼ of Section 21 and the N ½ NE ¼, except right-of-way, Section 28, all in Township 72 North, Range 36 West, Montgomery County, Iowa.

IMPROVEMENTS

The property is improved with a ranch-style home featuring two bedrooms and one bathroom.  Seller will provide a passing septic inspection and water test.

Additional improvements include:

• 40' × 80' machine shed built in 2011
• 60' × 28' machine shed built in 2001
• 24' × 20' machine shed built in 2001

The property also features three ponds stocked for fishing and frontage along the West Nodaway River on the west side of the property.

FSA INFORMATION

FARM NO. 1016 • TRACT NO. 1636

Cropland Acres: 23.01

Corn Base: 13.70 acres
Corn PLC Yield: 109

Soybean Base: 6.10 acres
Soybean PLC Yield: 42

CRP Acres: 2.50
CRP Contract: No. 11678
Annual CRP Payment: $750
Contract Expiration: September 30, 2034

FARM NO. 1916 • TRACT NO. 2208

No cropland or CRP acres are reported for this farm and tract.

AUCTIONEER’S NOTE

Here is a rare opportunity to purchase a remarkably diverse southern Iowa property in a highly accessible location near the intersection of U.S. Highways 34 and 71. With productive cropland, extensive Forest Reserve acres, three stocked ponds and West Nodaway River frontage, this property offers outstanding possibilities for hunting, fishing and year-round outdoor recreation.

The ranch-style home and substantial machine-shed space make the property well suited for a private country retreat, recreational headquarters or long-term land investment. Whether you are looking for a weekend getaway, a hunting property or a place to build lasting family memories, this farm deserves your attention. Properties combining this much recreational appeal, usable improvements and convenient highway access are difficult to find.

AUCTION TERMS AND CONDITIONS

POSSESSION

Buyer shall receive landlord’s possession at closing. Seller shall terminate the current tenancy prior to September 1, 2026.

Buyer shall receive full possession and all farming rights for the 2027 crop year.

Seller shall retain 100% of the 2026 cash rent and the 2026 CRP payment.

Buyer shall assume CRP Contract No. 11678 and agree to abide by all of its terms and conditions. Buyer shall receive 100% of the 2027 CRP payment and all subsequent payments.

METHOD OF AUCTION

The property will be sold based a total dollar basis.

REGISTRATION AND BIDDING APPROVAL

Bidders wishing to participate must register online at www.spencergroups.com no later than 24 hours before the auction closes.

Before being approved to bid, each bidder must submit a bank letter of creditworthiness to the Spencer Groups office. For assistance, call 712-644-2151.

PURCHASE TERMS

All bids are cash bids and are not subject to financing or any other contingencies.

The Seller reserves the right to accept or reject the final bid.

Upon the Seller’s acceptance of the final bid, the successful Buyer shall deposit 10% of the total purchase price as earnest money into the Blair Title Trust Account, where it shall be held until closing.

The Seller shall provide an updated abstract.

The Buyer shall obtain a title opinion prepared by an attorney of the Buyer’s choice and at the Buyer’s expense.

Buyer and Seller shall each be responsible for their customary closing costs associated with a real estate transaction.

Real estate taxes shall be prorated to the date of closing.

CLOSING

Closing shall take place on or before October 19, 2026.

AGENCY

Spencer Groups, Inc., Ed Spencer Real Estate and Farms America, Inc. are agents for and represent the Seller exclusively in this transaction.

All prospective bidders shall be considered customers and not clients of the auction companies.

DISCLAIMER

Announcements made by the Auctioneer during the auction or emailed to registered bidders shall take precedence over all previously printed materials and oral statements.

All information contained herein and in related materials is believed to be accurate but is subject to independent verification by all persons relying upon it.

The property is being sold AS IS, WHERE IS, with no warranties or representations, expressed or implied, by the Seller or the Auction Company.

Each prospective bidder is responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property.

Neither the Seller nor the Auction Company assumes liability for errors, omissions or the accuracy of the information contained herein.

All sketches, aerial photographs, dimensions and acreages contained in this brochure are approximate and are based upon information obtained from the Montgomery County Assessor’s Office, GIS mapping and the Farm Service Agency.

The conduct of the auction and all bidding increments shall be at the direction and discretion of the Auctioneer.

DALLAS A. PETERSEN IRREVOCABLE LIVING TRUST, OWNER

DIANA JENSEN, TRUSTEE

AUCTION CONTACTS

ED SPENCER

Broker / Auctioneer
402-510-3276

LUKE SPENCER

Auctioneer
402-510-5853

HANNAH JOHNSEN

Broker Associate / Auctioneer
712-592-9794

ED SPENCER REAL ESTATE

322 E. 7th Street
Logan, Iowa 51546
Office: 712-644-2151