Land Sale of the Week: $17 million-plus in South Central Nebraska

 
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Mike Walsten

The auction of 5,105 acres of south central Nebraska and north central Kansas farmland Jan. 29 saw the combination of irrigated cropland, dryland cropland and pasture land going for a total of $17,155,000. The auction drew a crowd of more than 250, including 97 registered bidders, says R.D. Schrader, president of Schrader Real Estate and Auction Company, Inc., Columbia City, Ind., whose firm handled the auction.

"The tracts with the best irrigated land went for more than $6,000 an acre, and we had another 640 acres topping $5,700 an acre, so it's clear that demand for land continues to be solid, especially among farmers who see an opportunity to acquire additional land for their operations," states Schrader.

The ground was located south of Red Cloud, Neb., in Webster and Franklin counties., Neb., and Jewell County, Kansas. It was offered in 23 tracts. Thirteen buyers took the various individual and combination tracts.

Four tracts totaling 590 acres with 519 acres under pivot irrigation sold to one buyer for $6,047 an acre. Two separate pivot-irrigated 160-acre tracts sold to two buyers for $5,812 and $5,468 an acre each. A third 480-acre tract with 388 acres under irrigated brought $5,750 an acre. Various pastureland tracts sold from $1,875 to $2,727 an acre.

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

 

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Comments

 
Spell Check

RJ Miller
omaha, NE
2/6/2016 07:05 AM
 

  I have 1 question. Who bought it....Chinese, Saudis or????????????

 
 
Ed
Lincoln, NE
2/4/2016 09:35 PM
 

  Today, February 5, Nebraska's State Senators on Appropriations Committee heard testimony for, against and neither regarding property tax relief. This created distinct differences of opinion from landowners and public entities dependent upon taxes to support needed operating funds. Property taxes, sales taxes, income taxes, inheritance taxes appear to not have reduced interest and value of the mentioned market value and selling price of that real estate. As beginning farmers, retiring farmers/ranchers as landowners, absentee landowners, land investors and speculators, compete for property based upon interest, returns on investments, short and long-term ownership, incomes from commodities and livestock, there will be highs and lows of value of land. Land productivity, soil types, available sustainable water, expansion by farming families are all local factors. Land in other Nebraska counties of equal productivity could be worth $10,000- $12,000 values for prime irrigated Class I farmland in York Co. Nebraska. My grandfather and father purchased post World War II land for $50 per acre that on today's market locally is worth $7,000+ /acre. My brother purchased land during 1970's for $475/acre built new home, developed irrigation and constructed grain storage and machine sheds. Those improvements and investments increased his taxes for local school district and county income. Two things people can be sure of, death and taxes. Everything else, there is an element of risk.

 
 
chris k
bad axe, MI
2/10/2016 07:00 AM
 

  Just remember on this there is 64 trillion dollars in total credit market debt in this country. In 1980 there was 4.7 trillion and we all know how that turned out for farm land values. When you have $200,000.00 of credit market debt on the head of every man , women and child in this country,and $8,000.00 of interest due on that .This is why this land is so high as american's we just keep making bubbles that are not sustainable . The goverment will start to pull the plug on this high land cost to producers . They know that they can't have this land go to the next generation at this price level it's not sustanable and it's a national security risk. Give this a little time this land is really going to come down.

 
 

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