Real Estate Auction Roundup

By William Flood

Illinois

Milford – On Aug. 21, Schrader Real Estate & Auction Company presented 74.29 +/- acres in one tract. Located about 4 miles southeast of town with frontage on 800 N Road, the parcel included 73.79 cropland acres per FSA. Soils were mainly Selma loam and Lisbon silt loam. Recent yields: 36.80 acres of corn (173 bushels) and 36.70 acres of soybeans (52 bushels). The property sold for $825,000 ($11,105/acre).

Shelby County – Cory Craig conducted the Gudehus Farmland Auction on Aug. 21, offering 156+ surveyed acres in three tracts: Tract 1 – 71.40 acres; Tract 2 – 39.98; Tract 3 – 44.68. Soils included Oconee, Herrick, Virden, Harrison, Fishhook and Douglas, with a Productivity Index of 124.4. There were 73.65 base corn acres (PLC Yield 161) and 73.65 soybean acres (PLC Yield 5,410/year). Tract 1 sold for $778,260 ($10,900/acre); Tract 2 for $463,768 ($11,600/acre); Tract 3 for $513,820 ($11,500/acre).

Indiana

Nappanee – On Aug. 13, Kraft Real Estate Auctions sold The Barns, Round Barn Theater, and 9.58 acres, part of the original Amish Acres, created in 1968 by the Pletcher family. In 2020, it was bought by U.S. Congressman Marlin Stutzman and wife Christy, who auctioned it following his election. Located on historic U.S. 6, the site had 10 buildings totaling over 54,000 square feet.

The Round Barn Theater, originally a 1911 round barn, was relocated in 1998. Recently remodeled, it seated nearly 400. It included its fine woodwork and domed ceiling, lobby, ticket office and concession stand. Attached was the Greeting Barn, built from an 1876 Amish barn, with a gift shop, meeting room (sometimes used as a theater), wedding venue, bridal suite and offices. The 20,000-square-foot Restaurant Barn, built from two 1870 bank barns, featured a 400-seat restaurant, commercial kitchen, retail bakery, offices and private venue with a bar. A transferable three-way liquor license was included. Also on-site: a two-story 1860 log house (formerly W.H. Best Meat Market), now an antique store; a second log building from 1853 (formerly Soda Fountain & Fudgery), now a pretzel shop with antique marble soda fountain; a working cider mill (3,000-bushel/day capacity); and a 4-bedroom/3-bath caretaker’s home with over 8,000 square feet of outbuildings.

Over $600,000 in upgrades were completed, including HVAC, theater renovations, and a new LED roadside sign. The turnkey sale included all personal property, kitchen equipment, and furnishings. Opening bid was $1,399,900 (+5% buyer’s premium); final sale price: $2,426,000.

Kentucky

Union Township – Lawson & Company Auctioneers offered 183.13 +/- acres in five parcels on Aug. 21. Total tillable land was 174.85 acres, with average yields of 245 bushels/acre for corn and 78 bushels/acre for soybeans. The farm was well-tiled and limed in 2020. Soils included Treaty silty clay loam and Crosby silt loam. Tract 1 consisted of 54.00+ acres east of CR 50 W with an open Barnett ditch and 2.63 acres in CREP ($300/acre/year). Tract 2 contained 54.00+ acres east of CR 50 W and north of CR 600 N, with a 40-by-50-foot metal pole barn with 14 feet of clearance. Tract 3 held 29.84+ acres south of CR 675 N. Tract 4 was 40.09+ acres with 50 feet of frontage on the south side of CR 675 N. Tract 5 was 5.20+ acres with a “grandfathered” residential building site. The property sold for $3,075,000 ($16,791/acre).

Wingo – Harris Real Estate & Auction held an absolute auction Aug. 7 for 14+ acres with commercial potential, in two tracts. The mostly wooded property, just off Purchase Parkway, offered highway visibility, high traffic, and easy access. Tract 1 contained 10.21 acres; Tract 2 was 4.21 acres. They sold combined for $67,500 ($4,681/acre).

Michigan

Eau Claire – On Aug. 26, Miedema’s LastBidReal Estate auctioned two tracts: an 18,000-square-foot packing plant and cold storage building on 2 acres, plus approximately 5.5 acres of apple trees. Located on Highway M-140 and known as Piedt Family Centennial Farm, the site was zoned agricultural-residential (A-R). The plant featured multiple overhead doors, three docks, 3-phase power, three wells, office, restroom, and ample parking. Ceiling heights ranged from 12 to 23.5 feet. An 80-by-94-foot Red Iron addition had a 20-foot ceiling. Connected land totaled nearly 8 acres, with productive apple trees. Both parcels sold combined for $390,000.

Ohio

Killbuck – On Aug. 25, Kaufman Realty & Auctions sold nearly 32 vacant acres in one tract. The 31.798-acre parcel had over 500 feet of frontage on Township Road 91, 3.5 tillable acres, a cut driveway, a potential building site, and marketable timber nearing maturity. It sold for $540,000 ($16,982/acre).

Tippecanoe – Kiko Auctioneers held a live/onsite and online auction on Aug. 19 for a 34.93-acre farm with home and barn, offered in three tracts. Located near Clendening and Tappen Lake and public hunting land, the acreage included both open and wooded areas with scenic views. Tract 1 contained 10.04 acres with 194 feet of Laughlin Road frontage, a restorable 3-bedroom/2-bath cabin-style home with full basement, forced-air gas furnace (free gas from the property), and 100-amp electric. Outside was a 24-by-40-foot pole barn and woven-fenced pasture. Tract 2 was 16.10 acres wooded with a stream and 223 feet of frontage. Tract 3 had 8.79 acres open/wooded, with 253 feet of Ferguson Road frontage and building site potential. The tracts sold combined for $258,000.