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Indiana farmland brings $14,726/acre in Schrader auction
A 421-acre farm in Benton County, Indiana, sold at auction January 26 for $6.2 million, or $14,726 per acre, with Schrader Real Estate and Auction Company marketing the property and conducting the auction.
Offered in four tracts, ranging from 64 to 157 acres, the farm attracted a capacity crowd of more than 100 to the Benton County Annex Building in Fowler, Indiana. The crowd included 48 registered bidders from Indiana, Illinois, New Mexico and Florida.
“Interest in this farm was high among farmers and investors alike, and both were actively bidding up to the very end,” said R.D. Schrader, president of the auction company. “The soils were excellent, and the land was contiguous, but I think a major factor in the outcome was a continued belief that in the long term, farmland will continue to provide steady returns without the volatility we see in other financial markets. Ultimately, this has been the case for owning farmland for decades, and that remains the case today,” he said.
Those seeking additional information may visit www.schraderauction.com or call 800-451-2709.