Court-Ordered Real Estate Partition Auction
1500 Shoreline Drive - Oacoma, SD
April 22, 2022
2705.60 ACRES NEAR RELIANCE, LYMAN COUNTY, SD, SOLD FOR $10,362,921 TO AVERAGE $3830 PER ACRE!
THE AG LAND WAS OFFERED IN 13 INDIVIDUAL TRACTS AND SOLD TO TWO DIFFERENT BUYERS.
THE TRANSACTION CLOSED JULY 13, 2022.
Auction Location: Arrowwood Resort at Cedar Shore, 1500 Shoreline Dr, Oacoma, SD
Property Location(s): South Parcels: I-90 Exit 251, South 1 mile on SD Hwy 47, then west one mile on 246thStreet. North Parcels: I-90 Exit 248, two miles north on SD Hwy 47, then 1.5 miles west on 242ndStreet. Signs designate the property.
Broker Note: Peterson Land & Auction LLC is pleased to partner with Clark & Associates Land Brokers, LLC to bring you this excellent farm & ranch property in Lyman County, SD! An offering of this size and scope is a rare opportunity in an area where land is closely held and rarely hits the open market! Access to both parcel groups is excellent as the south tracts are just two miles from I-90 and the north tracts are approximately three miles from the Reliance, SD exit! The cropland and pasture will be offered in 14 tracts ranging in size from 80 to 480 acres, in addition to an older home and lot in the town of Reliance. The majority of the cropland is level to gently rolling and majority soils are Class II Silty-Clay Loams with productivity indexes in the 80s. Wheat, Corn, Soybeans, Sunflowers and Milo are all grown in the area. The two main pasture tracts of 480 acres and 320 acres are situated northwest of Reliance and feature stock dams as well as existing pipelines and tanks with rural water potential. A headquarters is located on one of the south parcels and includes a house and several outbuildings. The headquarters is served by rural water and high-speed internet. Lyman County is in the heart of wildlife country and several parts of this property are well suited to habitat production for pheasants, deer and more! We cannot stress enough, the investment opportunity this auction presents to farm & ranch operations-big or small, investors, outdoor enthusiasts and more! Inspect the property at your convenience from the road(s) and section line trails along the property boundaries. Brokers will be available at Tract 5 for questions and tours of the house April 9, 2022 from 1-4pm or by appointment. Come prepared to BUY!
Tract 1: SOLD FOR $5060 PER ACRE. Lots 6-7 & E ½ SW ¼; SE ¼ of Section 6-T104N-R73W of the 5thPM Lyman County, SD. 310.28 +/- acres. Tract 1 represents a powerful, mostly tillable, easily accessed piece of property that features 282.53 +/- acres under cultivation with the balance in low areas and ROW. The entire tract boasts a 74 productivity index with over 80% of the land in just two soil types! Gravel road access is available on 328thAvenue on the east and 246thStreet on the south. R.E. Taxes: $2846.32
Tract 2: SOLD FOR $5117.50 PER ACRE. NE ¼ of Section 8-T104N-R73W of of the 5thPM Lyman County, SD. 160 +/- acres. This tract features 132.06 +/- acres under cultivation, 22.13 +/- acres of low-lying slough/grass waterways and the remaining balance in ROW. Tract 2 features a 62 productivity index. This tract has excellent access with 246thStreet along the north side and 329thAvenue on the east boundary. R.E. Taxes:$1264.34
Tract 3: SOLD FOR $5015 PER ACRE. S ½ NE ¼ of Section 7-T104N-R73W of the 5thPM, Lyman County, SD. 80 +/- acres. Very powerful tract of land that features an 80 productivity index with 98% of the parcel consisting of ONE soil type! FSA records indicated 71.46 +/- acres under cultivation with the balance in grass waterways, low-lying areas and ROW. Gravel road access on the east boundary with 328thAvenue. R.E. Taxes: $785.80
Tract 4: SOLD FOR $4395 PER ACRE. W ½, Except Road as conveyed by Deed in Book 72, Page 305, Section 8-T105N-R73W of the 5thPM Lyman County, SD. 315.75 +/- acres. Large, mixed-use parcel consisting of 172.14 +/- tillable acres, 95 +/- acre fenced pasture and the remaining acres in low-lying/grass waterways and ROW. The pasture dam is washed out. Gravel road access to the property is very good with 246thStreet along the north boundary and 328thAvenue along the west side. R.E. Taxes: $2650.82
Tract 5. SOLD FOR $3900 PER ACRE. SW ¼ of Section 5-T104N-R73W of the 5thPM, Lyman County, SD. 160 +/- acres. “The Home Quarter” tract features 76.68 +/- acres considered tillable, 70 acres of pasture and the remaining land in building site, driveway and ROW. The overall productivity index of the entire quarter is 62. The building site in less than three miles from the Reliance, SD I-90 exit and sits off the road approximately one-quarter mile and features a home and several outbuildings. The site includes WR/LJ Rural Water and high-speed internet. Gravel road access to the property is available along 328thAvenue on the west and 246thStreet on the south. R.E. Taxes:$1833.98
Tract 6: SOLD FOR $5347.50 PER ACRE. SW ¼ of Section 11-T105N-R74W of the 5thPM, Lyman County, SD. 160 +/- acres. This powerful, tillable tract of land is the northern-most piece of farmland offered. FSA records indicate 151.53 acres under cultivation with the balance in low-lying areas and ROW. TWO soil types make up the entire tract which features an 84 productivity index. Gravel road access on 241stStreet on the south boundary and dirt section-line access along the west. R.E. Taxes: $1335.34
Tract 7: SOLD FOR $4887.50 PER ACRE. SW ¼ of Section 13- T105N-R74W of the 5thPM, Lyman County, SD. 160 +/- acres. This tract features 134.78 +/- acres of cultivated land, 21.3 +/- acres of low-lying grass and remaining balance in ROW. The overall productivity index for Tract 7 is 78. Gravel road access on 242ndStreet and only 2.5 miles east to SD Hwy 47. R.E. Taxes: $1231.52
Tract 8: SOLD FOR $3450 PER ACRE. SE ¼ of Section 13- T105N-R74W of the 5thPM, Lyman County, SD. 160 +/- acres. Tract 8 features 45.28 +/- acres of cultivated land, 109.18 acres of hay land/pasture and the remaining balance in ROW. The overall productivity index for the whole tract is 63. The cultivated acres productivity index is 77. Potential for additional cultivated acres is possible with the tract. For those interested in wildlife habitat, you’ll want to consider this tract! Gravel road access along south boundary on 242ndStreet and section line access along the east side. Tract 8 is located two miles straight west of SD Hwy 47. R.E. Taxes: $982.40
Tract 9: SOLD FOR $4225 PER ACRE. Lots 3-4 & E ½ SW ¼ of Section 18-T105N-R73W, of the 5thPM, Lyman County, SD. 159.57 +/- acres. This tract includes 122.31 +/- acres under cultivation, 30.85 +/- acres of grass waterways, low areas and ROW. The overall productivity index for the parcel is 57. Tract 9 is 1.5 miles west of SD Hwy 47.R. E. Taxes: $967.80
Tract 10: SOLD FOR $5807.50 PER ACRE. W ½ SE ¼ of Section 14- T105N-R74W of the 5thPM, Lyman County, SD. 80 +/- acres. Another high-powered tillable tract! FSA records indicated 76.14 +/- acres under cultivation, 2.01 acres of low-lying land and the balance in ROW. The parcel boasts an 80 productivity index and is only 3.25 miles west of SD Hwy 47 on 242ndSt. R.E. Taxes: $650.56
Tract 11: SOLD FOR $1700 PER ACRE. NE ¼, SE ¼ and SW ¼ of Section 12-T105N-R74W of the 5thPM, Lyman County, SD. 480 +/- acres. “The North Pasture” is just that. FSA records indicate 477.95 +/- acres of native & tame grass pasture. The combined productivity index for the full tract is 47. A large stock dam is located on the south end of the tract. This dam was repaired approximately 5 years ago and we’re told is a good dam. The small dam in the SE ¼ is shallow and poor condition. A water pipeline with tire tanks in each of the three quarters exists on the property. The rural water meter pit the line is presently connected to, will not be available to the buyer. A new supply line will need to be brought approximately ½ mile – from the south – and a new meter pit installed in the SW ¼. This large grazing tract is located 3 miles west of SD Hwy 47 on 242ndStreet and one mile north on 325thAvenue. The approximate last half mile to the property gate is improved section line. R.E. Taxes: $2121.58
Tract 12: SOLD FOR $2472.50 PER ACRE. SW ¼ of Section 14 and SE ¼ of Section 15, all in T105N-R74W of the 5thPM, Lyman County, SD. 320 +/- acres. “The West Pastures” have excellent access either from four miles west of Reliance on Hwy 248 then 1.5 mile north or four miles west of SD Hwy 47 on 242ndStreet. 324thAvenue separates each quarter. The west quarter (SE ¼ of Sec 15) features 40.94 acres of cultivated land that has a good fence separating it from the remaining pasture. The east quarter (SW ¼ of Sec 14) is an all grass tract and has a stock dam toward the east side of the quarter. A water pipeline with a tire tank in each quarter exists on the property. However, the same condition exists in relation to the meter pit as in Tract 11. The rural water meter pit the line is presently connected to, will not be available to the buyer. A rural water pipeline does run north and south along the road (324thAvenue) to which a new meter pit can be installed and connected to the existing pipeline. The combined productivity index for the entire tract is 56. R.E. Taxes: $1674.18
Tract 13: SOLD FOR $3910 PER ACRE. NE ¼ of Section 14- T105N-R74W of the 5thPM, Lyman County, SD. 160 +/- acres. Last but certainly not least is a parcel that features 93.96 +/- acres of cropland acres with the balance in grass & hay land. Presently, all tillable acres are grass and had been alfalfa several years ago. This tract has good potential for wildlife habitat. Very good access 3 miles west of SD Hwy 47 on 242ndStreet and north ½ mile on 325thAvenue. R.E. Taxes: $1216.94
Tract 14: SOLD FOR $10,500. Lots 5 & 6 Block 10 Milwaukee Land Companys 1stAddition, Reliance Town, Lyman County, SD. 208 E Chamberlain St, Reliance, SD is located on the corner of 3rdAvenue and Chamberlain Street and features a 100 ft x 140 ft lot size - according to the recorded plat. The house structure on the property has not been lived in for an unknown number of years. No warranty is made as to the structural or mechanical components and no warranty as to environmental hazards of any kind. Property sells “AS-IS”. R.E. Taxes: $94.90
THE PROPERTY WILL NOT BE OFFERED IN COMBINATIONS OF ANY KIND. PRINTABLE MAPS WILL BE AVAILABLE SOON!
Court Appointed Referee - Robert L. Morris, Morris Law Firm, Prof. LLC, Belle Fourche, SD.
TERMS & CONDITIONS:
All prospective purchasers that have no prior purchase/business history with either Peterson Land & Auction LLC or Clark & Associates Land Brokers LLC shall be required to submit a letter of credit/guarantee or proof of funds from an FDIC insured lending institution or financial services company prior to being approved to bid. Peterson Land & Auction LLC, Clark & Associates Land Brokers LLC and Robert Morris, Referee shall have absolute discretion and authority to qualify or not qualify potential bidders. If you have any question as to your being approved to bid, contact the respective auction representatives in advance of the auction.
- The real estate above described shall be sold free and clear of any prior estates, leases, charges or liens, real estate taxes and special assessments not yet due, excepted, but shall be sold subject to all rights of way, easements, building covenants and restrictions, mineral rights, water rights, fossil rights, reservations and other restrictions and covenants of record, and rights of the municipal, county, state and federal governments, if any, pertaining to the use of the land.
- All real estate and improvements thereon will be sold AS IS in its present condition as a cash sale with no financing contingency
- There shall be no reservation of mineral or fossil rights.
- Property will be offered in 14 individual Tracts.
- 10% non-refundable down payment and signed purchase agreement required the day of the auction with balance due at closing which is expected to be scheduled for on or before June 1, 2022, or other such time after June 1, 2022 if circumstances warrant.
- The high bidder at the auction will also sign a one-year cash rent lease for the acres purchased by the high bidder. The purpose of the lease so the high bidder can take possession of the property on April 23, 2022, in order to immediately prepare the property for planting or grazing. If the high bidder is the ultimate purchaser of the property, the lease will merge with the transfer of the property via Referee’s Deed.
- Tract 5 lease will be for cropland and pasture only. The lease will not include the house and buildings.
- The amount of cash rent for each Tract, except Tract 14, is as follows: Tract 1:$21,450.00; Tract 2:$9,900.00; Tract 3:$5,325.00; Tract 4:$15,750.00; Tract 5:$7,130.00; Tract 6:$11,325.00; Tract 7:$10,965.00; Tract 8:$7,735.00; Tract 9:$10,345.00; Tract 10:$5,700; Tract 11:$14,340.00; Tract 12:$11,115.00; Tract 13:$5,620.00.
- Title insurance will be provided. A copy of the title insurance commitment will be provided to all interested persons who request a copy prior to the public auction.
- Transfer fees paid by seller. Recording fees paid by buyer.
- Owners title insurance premium and closing service fee shall be split equally between buyer and seller.
- The 2021 real estate taxes due in 2022 shall be paid by the seller out of sale proceeds-if not paid before the auction. 2022 real estate taxes payable in 2023 will be prorated to date closing and shall be the buyers responsibility thereafter.
- The sellers and Referee do not warranty or guarantee that the existing fences lie on the true and correct boundary and new fencing, if any, will be the responsibility of the purchaser pursuant to South Dakota statutes.
- Transfer of property will be via Referees Deed.
For questions or to schedule a showing, contact:
Chisum Peterson, Broker #11738
Peterson Land & Auction LLC
Ron Ensz, Associate Broker, #11744
Clark & Associates Land Brokers, LLC