Bushnell , Bushnell, NE 69128(Kimball County)

The Herboldsheimer family purchased the ranch in 1951. Monte Herboldsheimers (current owner) father paid a total of $81,500 for the entire 3,660.86+/- acre ranch in 1951. The ranch has been in the same family ownership for 67 years. The ranch farmland, and pasture evidences exceptional care and management. The rangeland has not been over grazed and the farmland has an excellent crop production history for this part of the state. The southern portion of the ranch in located in the heart of the Lodgepole Creek valley which supports an intermittent stream on a year around basis. Lodgepole Creek has its beginnings in Wyoming and flows spring fed live water through this ranch and a good part of the southern Nebraska Panhandle. Ranch deeded land runs on both sides of Lodgepole Creek for approximately four miles. The ranch is an all contiguous unit and with live intermittent water via Lodgepole Creek running through the full length of the southern heart of this ranch sets this unit apart from a typical Panhandle of Nebraska ranch operation. There are three center pivot irrigated quarters powered by three phase REA located on the ranch that raise corn, millet, dry edible beans, alfalfa, and potatoes (on a rotational basis). Eleven miles of new ranch fencing has been built over the last six years on the ranch. The ranch supports a modest building site with two homes, two Quonset buildings and modest set of corrals with a Power River working alley. Both Quonsets are equipped with electricity and have dirt floors. Current ranch ownership has run approximately 200 cows year around selling calves utilizing 120 acres of pivot irrigation for alfalfa and 160 acres of pivot irrigation for corn stalks for winter supplement. The additional center pivot irrigation is dedicated to crop production on a cash rental basis. IRRIGATION WELL DATA CENTER PIVOT IRRIGATION STOCKWATER: The Lodgepole Creek supports an excellent underground water bearing profile very conducive for abundant water supplies for center pivot irrigation on this unit. Both static and pumping water levels as well as water volumes are considered excellent for this area. The ranch is located in the South Platte NRD, Sidney, NE. There is a three year water allotment for a total of 42 or an average of 14 annual usage. The ranch had a maximum allowed 10 carryover from 2015. Year 2018 will be the last year of the three year allotment. If excess water will be available in 2018, there will be a maximum allowed 10 carryover into 2019. The water use history on the center pivots has be very conservative, so the likelihood of a 10 carryover water into 2019 is good. There are a total of 401.3 CIAs (Certified Irrigated Acres) among the three center pivots. The east center pivot stands alone with 80.7 CIAs. The middle and west center pivots are pooled together for a total of 320.6 CIAs between the two of them. There are three electric stock wells strategically located on the ranch. The Lodgepole Creek running through the heart of the ranch also serves as a water source for livestock on an intermittent basis throughout the year. East Center Pivot 1995 Zimmatic 5 Tower, 27,592 Hours 40 HP GE Electric Motor Peerless Pump Well Registration G-043299 Well ID 50617 Drilled 1975 Static Water Level 17 Feet Pumping Level 18 Feet GPM 400 SPNRD CIAs 80.7 Owner Panhandle Green Valley Ranch Inc Middle Center Pivot 1993 Zimmatic 7 Tower, 29,249 Hours 50 HP GE Electric Motor Sargent Pump Well Registration G-115364 Well ID 139838 Drilled 2002 Static Water Level -36 Feet Pumping Level 50 Feet GPM 800 SPNRD CIAs Pooled with west well total both pivots 320.6 Owner Panhandle Green Valley Ranch Inc West Center Pivot 2001 Zimmatic 7 Tower, 20,253 Hours 125 HP US Electric Motor Peerless Pump Well Registration G-043298 Well ID 50616 Drilled 1975 Static Water Level -18 Feet Pumping Level 22 Feet GPM 800 SPNRD CIAs Pooled with middle well total both pivots 320.6 FARM SERVICE AGENCY DATA: The three center pivots have a total of 509.3 FSA acres. The total corn base acres are 426.6 FSA acres with a PLC yield of 107 which is the combination of center pivot irrigated and dryland cultivated adjacent to the center pivot land. The now expired CRP grassland (formally dryland cultivated) has long since expired, but did have an FSA CRP acreage at one time of 131.18 acres. The current use of these sites is utilized as grazing and is in above average range condition. BELF SCHOOL LAND 160 ACRES LEASE # 111831-25: The ranch deeded land surrounds a 160 acre tract of school land rangeland located in the east area of the ranch. The quarter is legally described as SWNE, SENW, NESW, NWSE 36-15-58 West of the Sixth PM, Kimball County, NE. Annual rent is $1500.42 or $9.38 per acre. The current lease expires December 2025. In this analysis, the school land quarter has been treated as revenue neutral- no income associated with it and no expense associated with it. Generally, all Nebraska school land rents are at market rent, therefore, no present value is recognized in the leasehold interest. RAINFALL: The rainfall belt in the area and location of this ranch ranges from 14-16 per year with the majority of it falling during the grass growing season. It is generally considered consistent and reliable to the extent that cattle liquidations or partial liquidations because of drought are rare. MARKETS: The ranch is located within travel marketing distance from two major, long established, livestock auction barns at Torrington, WY, and Ogallala, NE. Thousands of reputation cattle pass through both barns annually in the form of special stock cow, bred heifer, yearling, and calf sales throughout the year. Buyers from several states are always on hand to create a consistent, top-end market for all classes of cattle. MINERALS: The current ownership is retaining all owned minerals. EXCHANGES: The current ownership will cooperate with 1031 exchanges. APPROACH TO MANAGEMENT AND REVENUE: The Panhandle Green Valley Ranch has been in a combination landlord rental posture relative to some of the center pivot irrigated farmland and an owner-operator posture relative to the cow/calf operation. Both the rangeland and center pivot irrigated land has been extremely well cared for over many years. The center pivot irrigated land, former CRP land (now excellent pasture), and much of the Lodgepole Creek valley are located on excellent, nearly level sites containing one of the most productive soil types in Western Nebraska. The primary soil association for these areas is a Tripp Loam (Ta) with 0-1% slope with a Silty Range site. The NRCS irrigated capability for Tripp Loam is I-1. It is well suited to irrigation and for growing all crops typical of the area. The dryland cultivated capability is IIc-1 This soil association is rated as one of the top crop/forage producing soil associations in Kimball County. Corn, dry edible beans, potatoes, alfalfa, and millet have all be raised on a rotational basis very successfully on the center pivot irrigated land. Cash rents even during periods of modest crop prices have ranged from $100-150 per acre for corn, beans, and millet. When planted to potatoes on a rotational basis, cash rents have commanded up to $250 per acre. Potatoes are an excellent, diversified, cash rental crop for this ranch. Established yields for potatoes have been 30,000 lbs. +/- per acre on the center pivot irrigated land. There are good grain elevators for the major commodities up and down the Lodgepole Creek Valley, Interstate 80, and state Highway #30. Considering the rainfall belt for the ranch, the rangeland has been very well managed and very conservatively grazed. The rangeland in the Lodgepole Creek area and expired CRP area of the ranch is considered to be in excellent range condition. The native range is in good to excellent condition. The CRP areas were planted several years ago and now have established cool/warm season stands of Western Wheat grass, Buffalo grass, Smooth Brome grass and some legumes for nitrification. The ranch owner has carried approximately 200 cows selling calves in the fall, utilizing all the ranch range including CRP for spring/summer grazing. In addition, approximately 120 acres of center pivot irrigated land has been utilized for alfalfa and approximately 160 acres has been utilized for the grazing of corn stalks for winter supplementation of the dry pregnant cows after weaning and prior to the next calving season. Additional income to the ranch has been in the form of take in cows on corn stalks commanding average of .75/HD/day in this area. This ranch resource with combined center pivot irrigation, dryland cultivated, and rangeland has been analyzed under what would be considered typical crop production and typical cash rents for all the subject land classes. The combination resource has been analyzed for an estimated carrying capacity relative to time, use and balance under what would be considered a typical use in a landlord posture. What follows are the ranch estimates of deeded acres and current real estate taxes; as well as estimates of land classes, crop rents/crop production, carrying capacity; and AUMs of productivity under typical/average use and management. An estimate of landlord revenue generation less typical landlord expense has been developed to discover what would be considered a typical net landlord income to the landlord/land owner. NOTE* This unit has a history of potato production on a rotational basis. Utilizing 1/3 of approximately 400 center pivot irrigated acres for a cash rent of $250/acre for potato production and a cash rent of $100/acre for typical crop production develops an approximate gross rental for center pivot irrigated of $56,800 (130 acres @ $250/ac -$32,500, 270 acres @ $100/ac $27,000 Total $59,500. LANDLORD REVENUE ESTIMATE: 401.3 Acres Center Pivot Irrigated Cash Rent to Landlord @ $148/acre $59,500* 59.3 Acres Dryland Cultivated Cash Rent to Landlord @ $ 25/acre $ 1,483 287.83 Acres Lodgepole Creek/CRP Cash Rent to Landlord @ $ 12/Acre $ 3,454 2888.74 Acre Native Rangeland Cash Rent to Landlord @ $ 9/Acre $25,999 Total Gross Landlord Revenue Estimate $90,436 $90,436 Gross Income $29,897 RE Taxes $ 2,500 Irrigation $ 1,500 Ranch R & R, Misc. $56,539 Net Income Estimated, Say $57,000 Net to the Landlord Note: The University of Nebraska Cornhusker Economics 2017 market survey of rents estimated in the northwest district of Nebraska (includes Kimball County) the following: Center Pivot Irrigated High $195/ac, Low $125/ac Average $155/ac Dryland Cultivated High $40/ac, Low $22/ac Average $29/ac Pasture High $21/ac, Low $7/ac Average $11/ac Cow/Calf Pair Rates High $47.95/PR, Low $25.65/PR Average $35.15/PR YEAR AROUND CARRYING CAPACITY ESTIMATE CATTLE OPERATION: 120 acres Center Pivot Irrigated hay alfalfa 4 T/Ac @ 3 AUMs/Ton 1440 AUMs (120) acres Center Pivot Irrigated aftermath grazed 1 AUM/Ac. 120 AUMs 160 acres Center Pivot Irrigated aftermath corn stalks grazed 1 AUM/Ac 160 AUMs 288 acres Lodgepole Creek/CRP Rangeland grazed .55 AUMs/Ac 158 AUMs 2889 acres Native Rangeland grazed .4 AUMs/Ac 1156 AUMs 3457 acres 3034 AUMs/12 Mo- 253 AUs Fall/Winter/Spring 1720 AUMs/7 mo. 246 AUs Summer 1314 AUMs/5 mo. 263 AUs 253 AUs .80 202 Cows (cow calf, retaining replacements, bulls) 200 Cows Rounded 3457 Acres/253 AUs 14 Ac/AU 3457 Acres/200 Cows -17 Ac AU BROKER COMMENTS: This is one of the most diversified combination farm/ranch units to come for sale in Kimball County, NE for some time. It would not be for sale if the ownership was not retiring. It has been in one extended family for 67 years. Current ranch ownership is made up of several family entities that have now all decided to sell. The pride of ownership both for the cattle operation and the farming operation is evident. Center pivot equipment, fences, and grass condition are all in excellent condition and have been well maintained by the current ownership. A very unique and positive amenity to this ranch is the Lodgepole Creek traversing through its heart that can provide intermittent live water along with increased grass production for the ranch. Location The Panhandle Green Valley Ranch, located in the southwestern Panhandle of Nebraska, was homesteaded in the 1880s not long after the Union Pacific Railroad built its first rail tracks adjacent to the southern border of this ranch. A family by the name of Kinnie were the first owners acquiring the first acreages via homestead. They were in the trotting horse business. Legal Description The ranch starts directly west from Bushnell, NE and runs contiguously for approximately six miles. Its southern border is the Union Pacific RR and State Highway 30. Land is located in Sections 1,2,3,4,5,9,10,11 T14 R 58; Section 31-15-57; and Sections 34 & 36 T15-R58 all West of the 6th PM Kimball County, NE. There is a 160 acre school land quarter that is totally surrounded by ranch deeded land in Section 36-15-58. (See attached sheet for legal description detail). F.S.A. Info 509.38 Cropland acres 426.6 acres Corn Base PLC yield 107 (pivot irrigated land and surrounding dryland) 131.18 acres cropland (dryland and expired CRP) East end of property. Base acres = Wheat 22 yield PLC 27 Oats 14.6 Yield PLC 50 Equipment Pivots Motors Gearhead Pumps The well logs are available as a separate document.