Tag Archives: indiana
Farmland Prices Show Strength In Indiana
Schrader Real Estate and Auction Company | August 8, 2013 Demand for Midwestern farmland continued to show signs of good health this week when 345 acres of Indiana land sold for $3,612,840 at auction. Thirty-four registered bidders gathered at the Benton Central High School cafeteria for the auction offering of six tracts, which resulted in prices that topped out at $10,640 per acre on tillable land. Benton County is halfway between Gary and Indianapolis on the border with Illinois. “If there’s weakness in farmland prices, we certainly haven’t seen any sign of it in Benton County, and in truth, we’re continuing to see strong competition and prices,” said R.D. Schrader, president of Schrader Real Estate and Auction Company that managed the sale. “These prices were very good for the soil types, with most of the tillable land selling in two groups of tracts. Approximately 162 acres went for $10,640 per acre, and another 180 acres sold for $10,149 per acre.” He said, “We continue to be in a market where the supply of farmland is tight relative to the demand. That’s due in part to the usual seasonal variation, with crops in the field, but the longer term reality is that owners of farmland still don’t see a lot of alternative investments that offer the stability and long term returns farmland has provided. As long as that continues to be the case, we’ll continue to see good prices for farmland,” he said. Schrader Real Estate and Auction Company is based in Columbia City, Ind. Continue reading
Indiana, Illinois Land Sells For $6.57 Million In Auction
SULLIVAN, Ind., June 21, 2013 /PRNewswire/ — The auction of 1,035 acres of Indiana and Illinois farmland drew a standing-room-only crowd of approximately 250 people Tuesday, resulting in active bidding and strong prices. Most of the tillable cropland sold to investors at prices reaching $8,373 per acre in the auction, which was managed by Schrader Real Estate and Auction Company and Murray Wise Associates. “Farmers and investors alike were actively bidding, and during the past few months, farmers have been prevailing. But in this case, most of the cropland went to the investors,” said Gene Klingaman, executive vice president of Schrader. “This exceeded our expectations and demonstrates what we’ve been seeing for quite a while now — that demand for farmland remains high among investors and farmers alike,” he said. Joe Bubon, executive vice president of Murray Wise Associates, agreed. “There isn’t a lot of supply of available farmland, so a property like this one that is more than 80 percent tillable is very attractive. I think we’ll continue to see strong farmland prices, because there really aren’t a lot of alternatives that combine the return and stability, especially with the recent volatility in stocks and bonds.” The auction was held at the Sullivan County 4-H Fair Grounds Exhibit Building. Schrader Real Estate and Auction Company, based in Columbia City, Ind., is a leading auctioneer of agricultural land throughout the United States. Individuals seeking additional information about the firm and its auctions may visit www.schraderauction.com or call 800-451-2709. Murray Wise Associates, based in Champaign, Ill., is a leading auctioneer of farms and ranches throughout the United States. Individuals seeking additional information may visit www.murraywiseassociates.com or call 800-607-6888. For more information: Carl Carter, 205-823-3273 SOURCE Schrader Real Estate and Auction Company /Web site: http://www.schraderauction.com Continue reading
