Land Sale of the Week: $9,400/a in Eastern South Dakota

February 12, 2016 11:30 AM
 
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Mike Walsten

Tuesday saw 160 acres of highly productive farmland in Moody Co., S.D. sell for $9,400 an acre. The farm was located about 8.5 miles east of Trent almost on the Minnesota border. The farm featured 146 acres of tillable cropland and carried a PI of 78.4. The ground was level to gently rolling.

The farm was well located, bordered on two sides by county hard-surface roads and close to a major grain elevator.

It was sold subject to an existing lease for 2016. However, the seller will pay the buyer at closing $300 an acre on 150 acres of cropland and $150 an acre on 10 acres of hayland.

Handling the auction was Dean Stoltenberg, Pipestone Realty, LLC, Jasper, Minn., 507-348-7352 and Chuck Sutton, Auctioneer and Land Broker, Flandreau, S.D., 605-997-3777.

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

chris k
bad axe, MI
2/13/2016 08:05 AM
 

  That land probably went for what it should have according to the federal reserve they said they have the land inflated 330% more than what it should be. That land sold for about $2,800.00 dollars an acre, but when you have a no interest fed policy on deposits and no place to invest that has a return this is what happens short term . But you have to remember the banks will only borrow about $3,000.00 to 3,500.00 an acre against this you have to put up 2 more acres for collateral. This still all comes down to the 19 trillion dollars of goverment debt, the 45 trillion the private sector owes in accounts receivable trying to find some return on investment. There's a lot of investers scared that we're going to do a Greece on them and whipe there deposites out, but this land will come down back to whare it should be in the not to distant future. Then will be talking about all the chapter 12's being filed, and the fire sales on the land .

 
 
keith
nisswa, MN
2/14/2016 07:30 PM
 

  Chris, you nailed this and the cost is actually higher since the tillable is lower than 160.You would be better off burning the money.

 
 

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