Western Iowa farmland sells for $29,600 per acre

Two tracts of Sioux County, Iowa, farmland sold on Tuesday for a near-record $29,600 per acre each in a public auction conducted by Zomer Company Realty and Auction. A company spokesperson confirmed the Ken and LaDonna Huisman farmland sale totaled 117.41 acres.

Tract 1: 40 acres

The first tract was made up of 40 acres with a corn suitability rating (CSR) average CRS2 of 99.7 and average CSR1 of 75.1.

With a road and ditch on just one side of the field, 98.7% of this tract is tillable.

According to the listing description, the sellers of this 40 acres have signed an easement with Summit Carbon Solutions pipeline. The farm is leased for the 2024 crop year, and the buyer of the farm will receive the rent for 2024 and rent subsidy at closing.

Current real estate taxes according to the Sioux County Treasurer are approximately $1,240 per year.

Tract 2: 77.41 acres

The second tract of 77.41 acres is also bordered by one road and is 98.7% tillable. The average CSR2 is 99.1 and average CSR1 is 74.7.

This tract is also subject to a signed easement with Summit Carbon Solutions pipeline project. The farm is leased for the 2024 crop year, and the buyer of the farm will receive the rent for 2024 and rent subsidy at closing.

Current real estate taxes according to the Sioux County Treasurer are approximately $2,400 per year.

The farmland sale

Zomer Company Realty and Auction handled the Feb. 27 live public auction on location that started at 10:30 a.m. According to the company’s website, the land buyers will assume full possession on March 1, 2025.