|LAGRO, Ind. Halderman Real Estate Services, Inc. recently conducted an auction of farmland, woods and a rural residence in northern Indiana, which brought a total of $780,000.
The 232.3-acre property, located three miles north of Lagro, Ind. in Wabash County, was divided into nine tracts for the auction on Nov. 28. The timber value on the property was estimated by a certified forester at $94,000. The farm also has some historical significance as it was the birthplace and childhood home of noted Hoosier author, Gene Stratton-Porter.
According to the auctioneer, The auction brought very aggressive bidding throughout the sale with several sub-combinations of tracts receiving special attention.
The final sale consisted of three parcels. Parcel 1 included 160 acres (99.5 acres tillable, 45 wooded acres and 15.5 acres of pasture) and sold for $523,000 or $3,268.75 per acre sold to an area investor/landowner.
Parcel 2 was 38.3 acres (home and building and 26 acres tillable). It sold for $125,000 or $3,263.70 per acre sold to a residential buyer.
Parcel 3 included 34 acres (15.4 acres tillable and 18.6 wooded acres). It sold for $132,000 for $3,882.35 per acre sold to an area investor.
Published in the December 7, 2005 issue of Farm World.