LARGE LAND AUCTION

Henderson County & Union County, Kentucky

Large Land Auction

Tuesday, February 27th, 10:00 AM

 

Auction Site: The entire auction will take place at the Smith Mills Lions Club Building at the end of Powell Street, just east of HWY 136 in Smith Mills, KY. Watch for signs.

In order to liquidate the assets of Whittington Investments, LLC and Burbank Farms, LLC, Kurtz Auction & Realty Co. has been authorized to sell the following farmland and oil and gas rights to the highest bidder regardless of price:

 

3,517.36 ACRES +/- IN SEVEN TRACTS

FROM 68 TO 935 ACRES

Also selling producing oil and gas rights with lease interest income under the 1,759.76 acres +/- in Henderson County, KY.

CROPLAND – HUNTING LAND – OHIO RIVER FRONTAGE

CROP, CRP, HUNTING LEASE AND MOORING RIGHTS INCOME

 

Farm #1 – 1,759.76 acres +/-, Sugar Tree Farm, selling in three tracts; oil and gas rights selling separately, all located just west of Smith Mills, KY.

Farm #2 – 635 acres +/-, Mound Farm, selling in one tract in Horseshoe Bend on the Ohio River between Henderson, Kentucky and Evansville, Indiana.

Farm #3 – 1,122.6 acres +/-, Burbank Farms, selling in three tracts approximately ten miles west of Morganfield, KY near the Shawneetown Bridge across from Old Shawneetown, IL.

Auctioneers Note: Seldom does this amount of acres become available. This auction offers a variety of land types from cropland to recreational tracts with a proven income stream from farming, hunting lease, CRP programs, mooring rights and oil income from established leases. Best of all, you determine the price as it all sells to the highest bidder with no minimum bid. Make you inspections and financial arrangements and be with us on February 27th at 10 AM for this exciting auction.

Bill Kurtz, Joe Mills and Joseph Mills, Auctioneers

 

Farm #1 – Sugar Tree Farm containing 1,759.76 Acres +/-

Location: From the intersection of HWY 136 and HWY 359 in Smith Mills, KY, take HWY 136 west one mile to the property. Watch for signs!

Tract #1 – 670 Acres +/- sold for $3,400 per acre ($2,278,000)

• FSA office calls for 342.53 acres +/- of flat to gently rolling cropland
• 24.14 acres of CRP land paying $4,468.00 annually.
• The predominant cropland soil types are Hosmer, Weinbach, Sciotoville & Belknap Silt Loams.
• This farm has approximately 1.8 miles of blacktop frontage on Burbank Road and 2.5 miles on HWY 136
• Improvements consist of a 1,540 sq. ft. frame home, three buildings, three grain bins (approximately 28,000 bu.) and 2-1/2 acre and 1-1/2 acre lakes.
• Buyer will receive $7,615.00 annual income from a prorated share of an existing hunting lease on the property that runs through March 19th, 2019 with the lessee having the right to renew for one additional term of five years. The 2018 payment will be pro-rated between the buyer and seller.
• Acreage estimates: aerial computerized mapping based on neighboring surveys, deed plotting, road locations and known property lines indicate 670 acres +/-. The deed description the buyer will receive calls for 622.5 acres +/-.
• Minerals: There are no oil and gas rights involved in this sale and portions of the property are subject to an existing oil and gas lease. Any other mineral rights the seller may own will be conveyed.

Tract #2 – 935 Acres +/- sold for $1,250 per acre ($1,168,750)

• This property is a mix of cropland, CRP land, woods and sloughs
• 172.21 acres of CRP land paying $33,837.00 annually.
• 68.87 acres +/- of cropland throughout this tract of which 30 to 40 acres inside CRP fields are designated for food plots as directed by the hunting lease.
• 3,700 ft. +/- of blacktop frontage on both sides of HWY 136 and 2,280 ft. +/- on Klondike Road
• Buyer will receive $10,626.00 annual income from a prorated share of an existing hunting lease on the property that runs through March 19, 2019 with the Lessee having the right to renew for one additional term of five years. The 2018 payment will be prorated between the seller and buyer.
• Acreage Estimates: aerial computerized mapping based on neighboring surveys, deed plotting, road locations and known property lines indicate 935 acres +/-. The deed description the buyer will receive calls for 981.92 acres +/-.
• Minerals: There are no oil and gas rights involved in this sale and portions of the property are subject to an existing oil and gas lease. Any other mineral rights the seller may own will be conveyed.

Tract #3 – 154.76 Acres sold for $2,600 per acre ($402,376)

• This tract was recently surveyed so acreages and distances are accurate.
• The majority of the land is wooded. It has a 13-acre lake and a 4-acre lake, both with beaver proof spillways.
• Access to county water and power on HWY 136 and Martin Martin Road
• Approximately 2,842 ft. of blacktop frontage on HWY 136 and 450 ft. on Martin Martin Road.
• Ideal home or cabin site between the two lakes.
• Buyer will receive $1,759.00 annual income from a prorated share of an existing hunting lease on the property that runs through March 19th, 2019 with the lessee having the right to renew for one additional term of five years. The 2018 payment will be pro-rated between the seller and the buyer.
• Minerals: There are no oil and gas rights involved in this sale and portions of the property are subject to an existing oil and gas lease. Any other mineral rights the seller may own will be conveyed.

Also Selling Oil and gas rights together with lease interest income under the 1,759.76 acre +/- Sugar Tree Farm.

Ownership Interest In Oil And Gas Selling In Two Sales:

1. Whittington Investments, LLC owns all the oil and gas under 959.76 acres +/- and 2/5 interest under 620 acres +/- sold for $800,000

The seller has received a five-year average annual income of $123,688.00 from Continental Resources, Inc., a division of Country Mark, from the Whittington Enhanced Recovery Unit Unitization Agreement.

2. Janet Whittington owns 4/15 interest under 620 acres +/-. The sellers adjusted five-year average annual income of $15,417.00 from the Unitization Agreemen sold for $80,000

The above ownership interest has been determined by a recent attorney title opinion. The oil and gas interest will be conveyed to the buyer by a mineral deed conveying the sellers’ interest without warranty. The transfer will be processed by Country Mark Refining & Logistics, LLC.

Farm #2 – 635 Acre +/-, the Mound Farm in Horseshoe Ben sold for $3,600 per acre ($2,286,000)

Location: From US HWY 41 just south of the Ohio River Twin Bridges, take Stratman Road west 8/10 mile then north on the Henderson – Evansville Road 3.7 miles to the farm. Watch for signs.

• Selling in one tract
• FSA calls for 636 acres of farmland and 620.26 acres of cropland.
• Acreage Estimates: Aerial computerizes mapping indicates 633.17 acres, FSA calls for 636 acres and the deed descriptions the buyer will receive call for 730.8 acres +/-.
• The predominant soil types are Huntington Silt Loam and Huntington Fine Sandy Loam, both very productive soils!
• Minerals: the seller will convey whatever mineral rights they may own.

Farm #3 – 1,122.6 Acres +/-, Burbank Farms in Union County, KY with Any Mineral Rights They May Own

Location: From the Kentucky side of the Shawneetown Bridge on HWY 56, approximately eleven miles west of Morganfield, Kentucky, take HWY 657 north 1.4 miles and 2 miles to Tracts 1 and 2. Take HWY 657 south ¾ mile to Tract #3. Watch for signs!

Tract #1 – 732 Acres +/- sold for $4,100 per acre ($2,883,735)

• The FSA office calls for 698.68 acres of farmland, 368.09 acres of cropland with the remainder in woods.
• 39.97 acres in the CRP program paying $7,515 annually
• Predominant cropland soil types are Nolin, Newark, and Lindside Silty Clay soils and Huntington Silt Loam
• Center pivot irrigation system and Ohio River frontage
• The deed calls for 732 acres +/-, PVA calls for 751 acres +/- and computer derived mapping indicates 692.85 acres +/-

Tract #2 – 68 Acres +/- sold for $2,700 per acre ($183,600)

• The FSA office calls for 64.83 acres of farmland, 28.96 acres of cropland with the remainder in woods
• Predominant cropland soil types are Huntington Silt Loam and Nolin Silty Clay Loam.
• The deed calls for 68 acres +/-, PVA calls for 70 +/- acres and computer derived mapping indicates 67.67 acres.

Tract #3 – 322.6 Acres +/- sold for $4,000 per acre ($1,290,400)

• The FSA office calls for 303.06 acres of farmland, 210.31 acres of cropland with the remainder in woods.
• The predominant soil types are Nolin and Newark Silty Clay Loam and Huntington Silt Loam
• Shawneetown Harbor pays $2,500 annually for barge mooring rights
• The deed calls for 322.6 acres +/-, PVA calls for 322 acres +/- and computer derived mapping indicates 306.65 acres +/-

For more information, soil maps, and photos go to kurtzauction.com or contact Bill Kurtz, Joe Mills, or Joseph Mills, Auctioneers.

 

800-264-1204

270-926-8553