Clover Creek Farm- Union County, Oregon
New Listing! Union County, Oregon
Size: 845 +/- DEEDED ACRES 600 IRRIGATED, 162 DRYFARM, 86 RANGELAND
Property Description: Clover Creek Farm shows the results of quality management and pride of ownership. The owners have invested heavily in the land and irrigation systems since 2007. Thanks to the existing upgrades, an absentee owner/investor will not need to worry non-contributing upkeep expense.
Location Description: Clover Creek Farm is owned by the Heffernan Family Trust and located almost immediately east of Interstate 84, approximately 20 miles south of La Grande and about 30 miles north of Baker City. Both towns are classified as Blue Ribbon eastern Oregon communities with emergency medical care, education facilities, equipment and auto dealerships, small jet access and general shopping needs. The immediate area is home to some of Oregon's finest big game hunting and fishing. La Grande is also home to Eastern Oregon University.
SELLER LEASE/BUYBACK OPTION
Annual lease- 4% of Purchase Price ($150,000/YEAR)
BUYBACK OPTION Increase of 3% annually of purchase price, with five or ten year call.
Sellers choice- $112,500/year property price increase.
Example 5 Years- Increases purchase price x 3% x 5 Years = $562,500
Example 10 Years- Increases purchase price x 3% x 10 Years= $1,125,00
(Total $4,312,515 Repurchase price for 5 years)
(Total $4,875,000 Repurchase price for 10 years)
Property conveyed via warranty deed to buyer Repurchase option to be recorded Approximately 7% return/year upon repurchase.
HYBRID SUNFLOWER SEED
ALFALFA FORAGE HAY
IRRIGATION- One Well- Approx. 757?Depth and 20?Diameter at surface reduced to 12.25?at 750? - Well was pre-deepened April of 2012, 16?casing to 230?, averages 3,000 GPM - 250 HP Pump & Motor @well site-12?& 10?PVC Main Line; 4 Pivots (GPS); 1 wheel line - Bowls set @210?- Average pumping depth 130?; pumping depth can range 25?to 195? - Over 85% of the farmable soils consist of silt loams (Catherine, Umapine & Coughhanor).
Elevation: Approximately 3, 500'
Current Property Taxes: $6,483
Buyer Leaseback & Repurchase Option $3,750,000 CASH @CLOSING
$3,750,000 CASH @CLOSING
$3,750,000 CASH AT CLOSING
White Barn Real Estate
Mills & Co. Realty, Inc.
Agrilands Real Estate
Rae H. Anderson
208 761 9553
This information is from sources deemed reliable but is not guaranteed by the owners, Agrilands Real Estate, White Barn Real Estate or Mills and Co. Realty, Inc. Purchaser shall have the sole responsibility to inspect the property and inform himself of the true condition thereof. Purchaser accepts this responsibility before submitting any offer or executing any contract. This offer is subject to prior sale or withdrawal by owner or agent at any time.