Land Sale of the Week: $7,058/a in East-Central Indiana

 

Mike Walsten

Yesterday, Feb. 25, saw the auction of 202 acres in Rush County, Ind., bring an average of $7,058 an acre. The offering featured 196 tillable acres and carried an average corn PI of 155.2.

The farm property was offered and purchased in three separate tracts. Here are the details by tract:

Tract 1: 68.1 acre 2.5 miles northwest of Glenwood. It had 67 tillable acres and carried a corn PI of 146.7. It sold for $6,460 per acre.

Tract 2: 34.4 acres contiguous to Tract 1. It featured 33 tillable acres and also carried a corn PI of 14.7. It brought $6,833 an acre.

Tract 3: 99.5 acres a half mile south of Glenwood. It was level with 94.5 tillable acres and featured a corn PI of 164.2. It sold for $7,545 per acre.

All three tracts were purchased by local farmers.

Handling the auction was Rusty Harmeyer, Halderman Real Estate Services, Richmond, 765-561-1671.

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

Michael E
Dallas City, IL
2/27/2016 02:18 PM
 

  Bottom Line: Land is over priced. If corn and Soybeans hold at the present prices it is going to be a tough pull for some of the boys.

 
 
Robert
Boise, ID
2/27/2016 11:13 AM
 

  They must have a really good succession plan in place to justify these prices, or a really good pair of rose colored glasses.

 
 
JDACRES
Alexandria, MN
2/27/2016 08:18 AM
 

  Very few land purchases in the last 3-5 years could truly pencil out.... Seriously.....

 
 

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