380-acre Elkhart County, Indiana farmland offering sells for $7.7 million in Schrader auction

WAKARUSA, Indiana (February 24, 2026) - A 380+/-acre land offering in Elkhart County, Indiana, brought $7.7 million at auction, averaging $20,239 per acre, with Schrader Real Estate and Auction Company managing the sale.

The Bemiller Farms property was offered in 16 individual tracts, and the auction ultimately resulted in four buyers acquiring the property. The top prices at the auction included $24,480 per acre for tracts 1-6.

Located near Wakarusa and Elkhart, the property included approximately 380+/- acres of predominantly tillable land, much of it systematically tiled and featuring productive soils such as Crosier and Brookston loam. The farm was divided into tracts ranging from 9+/- to 48+/- acres, offering opportunities for both large-scale operators and smaller investors. Some tracts also included recreational features such as wooded acreage, pond access, and strong wildlife presence.

The 16 tracts offered at auction resulted in 15 different combinations - one of the 16 tracts was a swing tract offering greater flexibility for various combinations. Once again, the Schrader multi-tract auction method increased the value from a whole bid of $5,500,000 to $7,700,000. The combination buyers outbid the whole buyers by $2,150,000, allowing for greater competition in an unrestricted marketplace.

"The Bemiller Farms offering featured a strong combination of highly productive tillable acreage and well-located parcels," said Eugene Klingaman, auction manager. "The level of participation and competitive bidding underscores the continued demand for quality farmland in northern Indiana."

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.

For more information on upcoming auctions, visit www.schraderauction.com or call 800-451-2709.

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