By Andi Anderson
In a recent online auction, a significant portfolio of farmland in Illinois was offered to bidders, generating impressive results. The 905-acre portfolio, located in Bureau and Stark Counties, was divided into 13 tracts for the sale.
The auction attracted strong interest, with all but one of the tracts successfully sold. The total sale amounted to $12.4 million, with an average price of $13,702 per acre.
Among the tracts, eight were either contiguous or nearly so, enhancing their appeal to buyers. These tracts, composed of Class A soils, were particularly sought after, achieving the highest per-acre prices.
The Class A soil tracts sold for prices ranging from $15,500 to $17,200 per acre, reflecting the premium value placed on high-quality farmland in this region.
The successful auction highlights the ongoing demand for prime agricultural land in Illinois, particularly in areas known for fertile soil. The strong sale prices achieved in this auction underscore the competitive market for farmland, where quality land continues to command premium prices.
This auction was conducted by Sullivan Auctioneers, a well-known firm in the land sales market. Isaac Taber and Brandt Henness from Sullivan Auctioneers managed the sale, which attracted considerable interest from farmers and investors alike.
For more information on future land auctions or to inquire about specific sales, interested parties can contact Sullivan Auctioneers through their provided contact details. The results of this auction serve as a testament to the strong demand for farmland and the value of Illinois's agricultural resources.
Photo Credit: istock-alenamozhjer
Categories: Illinois, Business