WOODBURN, Ind.–(BUSINESS WIRE)–Three tracts of cropland totaling 121.3 acres sold Tuesday for $2.425 million, or $19,984 per acre, with Schrader Real Estate and Auction Company conducting the event.
“Several things are noteworthy about this result,” said R.D. Schrader, president of the auction company. “It’s rare to see prices per acre in the $20,000 range with all the serious competition coming from local operators. We had investors in the room, but they dropped out quickly as bidders focused their attention on the farm as an entirety,” he said.
The auction attracted 25 bidders from Indiana and Ohio, according to Jerry Ehle, managing broker for the auction. “A big plus was that the farm was rectangular, and the tracts were adjacent. The soils were primarily Hoytville silty clay with some pockets of Nappanee Silt Loam,” said Ehle.
The farm runs approximately 655 feet along SR 101 and more than 2,650 feet along Edgerton Road in Jackson Township, in East Allen County.
Schrader said farmland demand has remained strong and stable. “Farmers and investors may focus more on acquiring land as the planting season fast approaches. Interest rates have leveled off a bit, and farmland is an excellent investment for those seeking to avoid the volatility of stock and commodity markets. Farmland has also historically been a great hedge against inflation,” he said.
Individuals seeking additional information about buying or selling in Schrader auctions my visit www.schraderauction.com or call 800-451-2709.
Schrader Real Estate and Auction Company, based in Columbia City, Indiana, is a leading auctioneer of agricultural land and equipment throughout the United States. The company is a five-time USA Today/National Auctioneers Association Auction of the Year winner.
Carl Carter, 205-910-1952