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Your Precious Land

RSS By: Mike Walsten, Pro Farmer

Mike Walsten has covered major business trends in agriculture for more than 40 years.

Strong Land Auctions Reported

Dec 14, 2009

Mike Walsten

Here's an item I ran in the current issue of LandOwner that talks about some of the surprising strong sales seen in the land market recently. That item starts below. Meanwhile, here is a press release from Schrader Real Estate & Auction Company, Inc., Columbia City, Ind., that highlights a recent strong auction near Frankfort, Indiana.

This is the story that ran in the December 10 issue of LandOwner:

Strong Sales Seen At Recent Midwest Auctions

Dynamic. Strong — for better quality ground. Variable. Surprising. Yes — because after following the constant negative downbeat of the financial and farm media, you’re surprised when you hear a east-Central Illinois farm sold for $7,800 an acre in less than 30 minutes.
These are our impressions after spending several days following recent auctions from Indiana to eastern Colorado.
Here are some examples:
•$7,500 an acre in Knox County near Galesburg in western Illinois.
•$7,675 in northwest Iowa.
•$5,000 to $6,000 at several sales in Indiana.
•$8,700 near Bushnell in western Illinois.
•$3,800 in Atchinson County, Missouri.
•$5,770 in southwest Iowa.
•$5,000 in south central Minnesota.
•$2,900, irrigated land in western Nebraska.
•$2,400 in central South Dakota.
•$5,990 in Renville County, Minnesota.
•$1,820, combination irrigated and dryland cropland in northwestern Colorado.
•$7,600 and $7,800, Coles County, Illinois.
•$3,740 in Sedgwick County in central Kansas.
•$4,590 in Brown County, Minnesota.
•$5,850 to $6,800 for several sales in Hamilton, Hancock and Humboldt counties in Iowa.
•$7,500 to $7,600, Hancock County, Illinois.
•$5,100, irrigated, Reno County, Kansas.
•$4,600-$5,800, Redwood County, Minnesota.
•$5,100-$8,100 in Holt County, Missouri.
•$6,025 in Madison County, Iowa.
We know not all sales have been this strong. There have been several “no sales” at auctions, too. In those cases, the common denominator is lower quality soils and a low percentage of tillable acres versus gross acres.

If interested in seeing a copy of the LandOwner newsletter, just drop me an email at landowner@profarmer.com or call 800-772-0023.

 

 

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COMMENTS (1 Comments)

John L. Sanders
What is the expected ROI on farmland at the respective prices? With a 30% initial investment are these properties expected to stand alone and carry themselves and be debt free and profitable in 20 years?
9:44 AM Dec 15th
 

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