Land Sale of the Week: $8,000 per acre in Southwest Minnesota

April 15, 2016 08:30 AM
 
Land Sale of the Week: $8,000 per acre in Southwest Minnesota

Mike Walsten

Friday April 8 saw 74.5 acres of Pipestone Co., Minn., farmland sell for $8,000 an acre. The farm was located two miles southeast of Pipestone and was 100% tillable. It carried a CER of 72.6 and a PI of 84.2. In addition the farm was leased for 2016 with the seller compensating the buyer at closing with a supplements cash rental rate of $300 an acre.

Handling the auction was Chuck Sutton, Auctioneer & Land Broker, Pipestone, Minn., 507825-3389.

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

Chuck
Jordan, MN
4/15/2016 11:39 AM
 

  Owen, you are correct sir. Anecdotally, farmland in that area appears to have softened from the $9k range it was getting 2-3 years ago.

 
 
Ken
Worthington, MN
4/18/2016 02:08 PM
 

  $8,000 acre is great for the seller but devastating for the family farmer wishing to pass the land down,I have land in S.E. Nobles county valued @ $8,200 per acre x 160 acres per assessor, 10 acre is vacant bld. site,4 acre of rd.,I'm taxed at $38 acre x 160 A.,takes one hell of a bite out of the cash rent!! I know of land in Sioux and Lyon Co. Ia. just sold for $18,000 per A.and taxed at 16-$20 per acre,yes Mn. and Nobles Co. have become a great place to be FROM,pun intended. By the way Nobles Co. just had 156 tillable acres sell for $3 million,so I suppose the assessor will determine that all comparable land is also worth $19,231 acre judging by previous actions. If so anyone out there looking for about 320 A. ??? I'll round it off to an even $19,000 A.

 
 
Dean
Pipestone, MN
4/16/2016 05:05 AM
 

  It's all about pig buildings and manure...

 
 

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