Land for Auction in Melrose, Iowa

Monroe County, Iowa Farmland Auction - Mark your calendars for Thursday, June 11th, 2026, at 10:00 AM CST! Peoples Company is pleased to represent the Merna J Rusk Estate in the sale of 303.74 acres m/l in Monroe County, Iowa. This property will be offered in two tracts, providing a unique opportunity to acquire a premier recreational hunting farm alongside a large, contiguous, highly productive tillable farm - all in one auction setting.

Tract 1: 112.43 acres m/l (to be surveyed) with an estimated 49.64 FSA cropland acres m/l carrying an average CSR2 soil rating of 45.6

Tract 2: 191.31 acres m/l (to be surveyed) with an estimated 181.80 FSA cropland acres m/l carrying an average CSR2 soil rating of 55.7

As a whole, the farm consists of 231.44 FSA cropland acres with 213.30 acres currently in row crop production. Tract 1 offers an exceptional recreational opportunity, located in Iowa's renowned Zone 5, widely recognized as one of the premier whitetail hunting regions in the country. With a strong mix of habitat, thick cover, food plot opportunities, and natural travel corridors, this tract presents outstanding potential for both seasoned hunters and outdoor enthusiasts. Tract 2 provides a rare chance to acquire a large, contiguous block of high-quality tillable farmland in an area where such opportunities are increasingly limited. Whether expanding an existing operation or securing a long-term investment, this tract offers both productivity and scale. Together, these tracts deliver outstanding versatility - appealing to investors, operators, and recreational buyers alike - allowing for strategic acquisition of one or both assets.

Farm Lease:

The farms are leased for the 2026 farming season, and an early lease termination has been agreed upon with the current farm lease terminating on Thursday, December 31st, 2026, or upon removal of all crops from the property, whichever occurs first. The total cash rent for both farms combined is $58,300 and the Sellers will retain the first half rental payment of $29,150. The Buyer(s) will be credited the second half rental payment at Closing. Total farm lease cash rent payments are laid out below.

Tract 1: 40.00 total acres leased at $265/acre | Tract 1 yearly cash rent payment of $10,600 | Buyer will receive second half rent payment of $5,300 in the form of a credit at Closing.

Tract 2: 180.00 total acres leased at $265/acre | Tract 2 yearly cash rent payment of $47,700 | Buyer will receive second half rent payment of $23,850 in the form of a credit at Closing.

The two tracts will be offered on a price-per-acre basis using the "Buyer's Choice" Auction Method, where the high bidder can take, in any order, any or all tracts for their high bid. The Public Auction will be held on Thursday, June 11th, 2026, at 10:00 AM CST at the Melrose Community Center, 101 Kells Ave, Melrose, IA 52569. The sale can also be viewed through a Virtual Online Auction option with online bidding available.