|CHAMPAIGN, Ill. — More than 35 registered bidders from the surrounding area spent the morning of Oct. 21 bidding on approximately 610 acres of farmland located south of Newton, Ill. The land, divided into 10 tracts ranging from 20 acres to more than 120 acres, drew the attention of farmland bidders, as well as, investors.
The 10 tracts were bid on individually and in combination depending on the individual bidder’s interests. The close of bidding saw three successful bidders spend a total of $2,171,000 or approximately $3,559.00 per acre.
According to Scott Shuman, vice president, of Schrader/Westchester, “This auction was successful for both the sellers and buyers, because our objective is to always provide superior marketing services to obtain the maximum value for the property. Our multiparcel auction system creates an exciting event and gives all bidders an equal chance to buy the tract or tracts that they were interested in buying.”
Westchester Group, Inc. and Schrader Auction Company, Inc., two leading agricultural real estate firms, joined forces to create the largest agricultural real estate auction partnership in the United States - Schrader/Westchester. For more information on Schrader/Westchester visit www.schraderwestchester.com
Auction results were published in the November 2, 2005 issue of Farm World.