11 10월, 21:52www.thevwindependent.com
Some farmland in Union Township sold for what is believed to be a record per-acre price on Monday.
The land, totaling 233 acres in three separate tracts of 76.34-, 78.3- and 78.3 acres, sold for a total of $3.275 million, or a per-acre price of $14,055.
The land, owned by David Wilson, Janice Wilson Terhune and Nicholas North Company, Inc., is mostly Hoytville soil, with a small portion Nappanee soil.
Columbia City, Ind.-based Schrader Real Estate and Auction Company sold the land.
“We believe this may be a new record for the county, and it certainly shows that Midwestern farmland values continue to be strong,” said Jerry Ehle, sale manager. “We had healthy participation by both farmers and investors, and once bidding opened, it moved quickly past $3 million. Our high bidder was an investor from the Netherlands.”
R.D. Schrader, president of the auction company, said farmers and investors alike appear to be taking a long-term approach to farmland values. “Most of the people attending our auctions are focused on the enduring value and stable returns provided by farmland. Operators and investors who are buying for the long term don’t worry too much about whether prices are up or down month to month. They are more concerned about location, soils, and other farm-specific factors.”
The land was located at the intersection of Richey Road and Elm Sugar Road, just northwest of Van Wert, approximately 30 miles from Fort Wayne, Ind. The auction drew a crowd of approximately 100 to the Van Wert County Fairgrounds.
POSTED: 10/11/13 at 7:38 am. FILED UNDER: News
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