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Indiana small-town commercial property hit $152,746 per acre at auction
 
Illinois

Cowden - Schmid Auction held a simulcast live/online auction ending Oct. 17 of 40 +/- acres which were part of the Shirley Redman Trust. Of the total acreage, 38.46 acres were FSA tillable, with a Soil Productivity Index of 110.41. Soils consisted primarily of Atlas, Wynoose, Parke, and Bluford silt loams. The property sold for $388,000, computing to $9,700/acre.

Goreville - On Oct. 24, Joe Ollis Real Estate & Auction held an online-only auction of 1.02 acres near Lake of Egypt containing six deeded lots across three parcel numbers. Each lot, sited along the sloping wooded parcel, measured approximately 75 feet by 100 feet, with road frontage totaling 450 feet. Sections of the property had suffered tree damage from a recent tornado. One of the lots possibly had utilities and a septic tank. The property was 0.8 miles from the Eagle Point Bay Association dock. It sold for $6,200 or $6,078/acre.

Indiana

Jeffersonville - On Oct. 16, Beckort Auctions presented 4.406 commercial acres offered in two tracts. Both parcels were situated within the Commercial Corridor Overlay District at the northwest corner of I-265 Exit 10, adjacent to the Hilton Garden Inn and other businesses. The prime location offered high visibility and had utilities available. Tract 1 was 2.536 +/- acres, with 140 feet of frontage along Water Tower Road. Additionally, 320 feet fronted the Tower Road cul-de-sac and 99 feet fronted Sellers Court. The parcel was flat, all open, and had potential building sites. Tract 2 was 1.87 +/- acres, with 500 feet of frontage along Water Tower Road. It was also flat, all open, and contained potential building sites. The parcels sold combined for $673,000, calculating to an impressive $152,746/acre.

North Manchester - On Oct. 21, Schrader Real Estate and Auction Company presented 65.34 +/- acres in three tracts. Tract 1 contained 35.3 +/- acres, offering 10 +/- tillable acres, a 16 +/- acre pond with pond-view building sites, and frontage on State Route 13 and County Road 1000 N. Tract 2 held 26.3 +/- acres, with 17 +/- tillable acres and 9 +/- wooded acres, offering possibilities for building, farming, or recreation. Frontage was along County Road 1000 N. Tract 3 was 3 +/- acres, with a 4-bedroom/2-bath country home, a 24-foot-by-32-foot three-car garage, and a 40-foot-by-52-foot outbuilding. Frontage was along County Road 1000 N. Tracts 1 and 2 sold combined for $395,000, equating to $6,309/acre. Tract 3 sold separately for $145,000.

Kentucky

Mayfield - Harris Real Estate and Auction offered 63.15 acres in five tracts in a simulcast live/online auction on Oct. 17. The breakdown of the tracts was: Tract 1, 6.15 acres; Tract 2, 7.05 acres; Tract 3, 5.88 acres; Tract 4, 25.59 acres; and Tract 5, a swing tract of 18.48 acres that required purchase along with Tract 4 or by an adjoining land owner. The parcels sold combined for $650,000 or $10,293/acre.

Owensville - On Oct. 24, Kurtz Auction and Realty auctioned 84.68 acres of tillable and recreational land as a single tract. The tillable portion consisted of 27.27 acres primarily in Melvin and Alford silt loam soils. The recreational portion held marketable timber, with the front in wetlands for excellent waterfowl hunting. Property access was via a 50-foot perpetual easement. It sold for $364,124, equating to $4,300/acre.

Michigan

Caro - On Oct. 28, Albrecht Auction offered as two tracts, 63.95 +/- acres with a home and outbuildings. Tract 1 consisted of 59.48 +/- acres of productive farmland. Tract 2 was 4.47 +/- acres with a 3 or 4-bedroom/2.5-bath home. The dwelling had approximately 2,850 square feet of living space and 1,350 square feet of partially finished walkout basement, with an additional half bath and a 2-car attached garage. Tract 1 sold for $410,000 or $6,893/acre. Tract 2 sold for $450,000.

Webberville - Miedema’s LastBid Real Estate auctioned two commercial buildings on Oct. 9. The buildings – on Main Street and totaling four units – were zoned mixed-use. 120 N. Main Street was 728 square feet sitting on 0.115 acres. It was tenant-occupied with over two years remaining on the lease. 124-128 N. Main Street was 4,476 square feet on 0.315 acres, housing three vacant units with separate entrances and individual utilities. Both buildings had new roofs. Two of the three units were updated, with one having an overhead door at the rear of the building. It sold for $99,500.

Ohio

Greenville - Midwest Auctioneers and Realty held a simulcast live/online auction on Oct. 23 of 76.139 surveyed acres of farm ground. Approximately 56 +/- acres were tillable and 20 +/- acres were woodland with harvestable standing timber. Kline Timber Co. appraised 35 mature trees, primarily walnut, oak, maple, and cherry, at approximately $40,000, with additional harvestable timber projected in six-10 years. The property sold for $950,000, calculating to $12,477/acre.

Kingsville - On Oct. 28, Kaufman Realty & Auctions held a simulcast live/online auction for 55.337 acres of Ashtabula County hunting land. Situated next to 5504 State Road, the property had been lightly timbered near the frontage, still providing ample remaining wildlife habitat. The parcel sold for $68,750, or $1,250 per acre.
11/8/2024