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Hunt-Johnson Farms sold at auction for $6.38 million
The 2019 harvest is history, and the auction of an 804-acre farming operation for $6.38 million provided an early signal that demand for quality farmland remains strong. Schrader Real Estate and Auction Company marketed the land and conducted the auction of Hunt-Johnson Farms.
The auction of land owned by the same family for four generations attracted a crowd of some 300, 68 of whom were registered bidders. By the end of the auction, seven successful bidders emerged -- four farmers and three investors. Three of the successful bidders owned adjoining land.
The land, located along Clifton Road at Highway 27, included 713 contiguous acres offered in 11 tracts ranging from 18 acres to 178 acres.
“There’s always a lot of anticipation around the first few major auctions after harvest, as farmers and investors watch to see how crop size, commodity prices and trade dynamics get translated into cropland prices. It’s noteworthy that the bidders included farmers and investors, as well as some 1031 bidders,” said R.D. Schrader, president of the auction company.
“What we saw in Union County was consistent with other results that show solid demand for quality farmland. Most importantly, we had a satisfied seller,” he said.
Schrader Real Estate and Auction Company, based in Columbia City, Indiana, is a leading auctioneer of farmland and other real estate and agricultural assets throughout the United States and is a five-time USA Today/National Auctioneers Association Auction of the Year winner. Individuals seeking information about upcoming auctions or about selling land and other assets may visit www.schraderauction.com or call 800-451-2709.