IL Farmland Prices Reach $14,359 in Schrader Auction
Date Posted: March 28, 2014
Clinton, ILTwo farms in Dewitt County, Ill., sold for a total of $7,089,000 Tuesday in a Schrader auction that attracted more than 30 registered bidders and saw intense competition for the farmland.
The 255.7-acre farm offered in three tracts sold for $3,672,000, or $14,359 per acre. The second farm, which consisted of 285.4 acres offered in four tracts, sold for $3,417,000, or $11,972 per acre.
The farms were located between Decatur and Clinton.
“These were great outcomes on both farms, with standing-room only crowds and solid participation from farmers and investors alike,” said R.D. Schrader, president of Schrader Real Estate and Auction Company, which marketed the properties and conducted the auction.
“We're continuing to see auction results that reflect strong farmland values, because farmland remains a sound long-term investment,” said Schrader.
He added that operators continue to be strong bidders in land auctions.
“When a farmer can add some land to extend his operations, he tends to be thinking long term. In some areas, a farm family may have to wait decades to have an opportunity to purchase a nearby farm, so it's not surprising when farmers emerge as the high bidders,” said Schrader.
Upcoming auctions include three Indiana farmland auctions the week of March 17 – 50 acres in Madison County, 234 acres in Wayne County, and 541 acres in Sullivan County. Individuals interested in additional information on those and other auctions may visit www.schraderauction.com or call 800-451-2709.