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Land Sale of the Week: $9,000/a in Central Iowa

23:04PM Jan 22, 2015

Mike Walsten

A block of 147.5 acres passed under the gavel Jan. 15 at $9,000 an acre. The farm was located northwest of Malcom, Iowa, in Poweshiek about half way between Des Moines and Iowa City. It featured 138 tillable acres and carried a CSR2 of 76.1. It had a CSR of 71.2 compared to the county average of 65.0. The farm was an easy-to-farm long rectangle.

The farm was sold with a lease in place which did not expire until Mar. 1, 2016. The lease payment is $48,160 with half due on Mar. 1 and the second half due Nov. 1. The buyer also receives the Mar. 1, 2015 lease payment. The lease payment averages out to be $350 per tillable acre.

Handling the sale was Vince Johnson of Iowa Land Sales & Farm Management, Montezuma, Iowa, 641-891-5326

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