Illinois farmland brings $2,675,000
LINCOLN, Ill. — A 302-acre farm in Logan County, Ill., sold to five different bidders for a total of $2,675,000 on Nov. 30 – an average price of $8,857 per acre. Murray Wise Associates managed the sale, which attracted 30 registered bidders to the American Legion post in Lincoln.
Each of the five tracts of land, ranging from 35 acres to 115 acres, sold to a different bidder under Wise’s system, which puts bidders of all sizes on an equal footing as they compete for the land. “These are some strong prices for this class of tillable land in this area of Illinois,” said Joe Bubon, executive vice president of the company. “We had one bidder bidding aggressively on the entirety, but there were also a number of area farmers and local investors, who ended up buying four of the five tracts – all but 47 acres.” The fifth tract of 47 acres went to Lincoln College, which already owned land adjacent to it. Company President Ken Nofziger said the sale price indicates an underlying strength in farmland prices in Illinois and throughout the Midwest.
“Practically every new report on worldwide demand for agricultural products points to greater demand, especially from China. Also, farmers are coming off a productive crop year, further underscoring the value of the land. It is significant that the buyers in Logan County were local people who understand its value better than anybody,” he said. “Our sellers, the Perry family, were extremely pleased with the outcome.”
Indiana farmland sells for $11,683 per acre
COLUMBIA CITY, Ind. — Farmland prices continued their upward march last week with the auction of tillable land near Elkhart, Ind., for $11,683 per acre. Schrader Real Estate & Auction Company managed the sale.
A bidder combined two tracts in the sale, purchasing 57.3 acres for $740,000, or $11,693 per acre.
“As we have consistently seen all year, farmers and farmland investors are recognizing the true value of tillable land, and that is reflected in the results,” said R.D. Schrader, president of the auction company. “I have no doubt that even these prices – which few dreamed of a few years ago – are being driven by international demand for America’s farm products. Indeed, the Chinese demand alone seems to grow with every new report.”
Farm equipment sold during Ohio auction
FORT RECOVERY, Ohio — Large farm equipment was popular during a Nov. 26 auction by Auction America and Realty in Fort Recovery. The lead items were a pair of John Deere tractors. A 1993 John Deere 4960 with 3,425 hours earned the highest bid of the day at $87,000,, and a 1998 John Deere 8100 with 1,556 hours was sold for $76,000. A 2000 John Deere 9550 combine with four-wheel-drive, 2,159 engine hours and with a 620 F grain table sold for $85,000. Many more green equipment was sold:
•John Deere 2700 disc chisel; $18,000 •John Deere 980, 24-foot field cultivator; $13,750 •John Deere 630, 24-foot wing disk; $12,500 •John Deere 970, 24-foot cultimulcher; $13,250 •2008 John Deere MaxEmerge 15-row, 15-foot bean planter; $34,000 •1995 John Deere 750 no-till drill; $18,250 A pair of J&M 525SD gravity wagons were sold; one for $9,000 and another for $8,750.
The sale was conducted by Larry Keller of Auction America and Reality. For more information, call 419-375-4360.
Farmland In Illinois brings $25.3 million
BELVIDERE, Ill. — Approximately 3,355 acres of farmland in Boone County, Ill., sold at auction Saturday, Nov. 19, for a total of $25,536,993, with bids on some tillable land reaching to more than $10,000 per acre. The auction was conducted by Schrader Real Estate & Auction Company.
“We had a good bit of variation in land location and quality. We had a few of the highest quality tracts with bids for $10,000 per acre and more,” said R.D. Schrader, president of the company. “Bidders from Boone County and the surrounding areas were especially strong bidders throughout the auction. The locals even beat out the multiple investment funds that were represented. We’re always glad to see local bidders, because they tend to have the greatest appreciation for the land,” said Schrader.
By the end of the auction, a single bidder had purchased 2,403 acres of the land for $19,055,000, and the rest was divided up among 14 other bidders. “There were definitely a lot of people seeking a single tract of 50 or 100 acres, either to farm or as an investment,” said Schrader.
The land was sold by the owners of K-B Farms, Inc., and Funderburg Farms. “The sellers were taking advantage of the current market to adjust their portfolio, selling just a portion of their considerable holdings in the county,” said Schrader.
Eastern Lowline Angus Assoc. auction in Louisville, Ky.
LOUISVILLE, Ky. — A total of 34 lots grossed $82,500 during the North American International Livestock Exposition (NAILE) on Nov. 16 in Louisville. The lots were from the Eastern Lowline Angus Assoc., and the auction was managed by John Reed Auctions of Brooten, Minn.
Some of the highlights of the sale were: •Five bred, full-blood heifers averaged $4,050 •6 open, full-blood heifers averaged $3,217 •12 purebred and percentage heifers averaged $1,904 •3 full-blood bulls averaged $2,533 •1 percentage bull was sold for $1,300 •18 embryos averaged $508 For additional information, call Eddie Burks at 270-991-6398. |
