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High-quality Jay County, Ind., farmland to sell in March 21 auction

PORTLAND, Ind. (Feb. 15, 2011) -- Approximately 456 acres of high-quality tillable farmland in Jay County, near Portland, will sell at auction Monday, March 21, with Schrader Real Estate and Auction Company handling the sale.

"There is actually a shortage in the availability of high-quality farmland in the Midwest right now, and this is one of the best opportunities for someone seeking tillable land to farm or to hold as an attractive investment," said R.D. Schrader, president of the auction company. The property is located 45 minutes from Fort Wayne and 90 minutes from Indianapolis.

Bidders will be allowed to bid on the tracts in any combination. "By selling this land in tracts, we allow a wider variety of bidders to participate, including local farmers as well as investors. In addition to its excellent long-term returns, farmland has shown remarkable strength over the past couple of years, and we have every reason to believe it will continue to be an attractive investment," said Schrader.

The auction will begin at 10 a.m. and will be conducted at the Jay Community Center at US 27 and SR 26 East. Open house/inspection dates will be 10 a.m. to noon Wednesday, March 2, and 10 a.m. to noon Monday, March 14.

The land, most of which features Pewamo and Blount soils, has been systematically tiled. It will be offered in six tracts:
77 acres, mostly tillable, with frontage on SR 26.
39.7 acres, including 38 acres tillable, with access via Division Road off 500 W.
116.7 acres, including 102.3 acres tillable, with frontage on SR 26 and County Road 600 W.
101.1 acres, mostly tillable, with abundant frontage on SR 26.
79.3 acres, including 78.4 tillable acres and frontage on SR 26.
79.1 acres, including 58.3 tillable and approximately 19 wooded acres. Has frontage on 200 N.

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