New Listing! Union County, Oregon 

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​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.

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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)

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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

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(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.

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Commodities Include:

HYBRID SUNFLOWER SEED

SEED POTATOES

SEED GARLIC

SMALL GRAINS

GRAIN SEED

ALFALFA FORAGE HAY

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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

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$3,750,000 CASH @CLOSING

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