REAL ESTATE AUCTION ROUNDUP

BY WILLIAM FLOOD

 Illinois

Fayette County - On April 10, Schmid Auction presented 82.73 +/- acres as two tracts, with all mineral, oil, and gas rights conveyed. Both parcels were in Laclede Township. For each, the new owners would receive $5,740 cash farm rent on/before Aug. 30, 2024, and farming rights after fall harvest 2024. The tracts were not combinable. Tract 1 contained 41.44 +/- tillable acres. Soils consisted of Cisne, Hoyleton, Hoyleton-Darmstadt and Newberry silt loams, with a soil productivity index of 113.37. Tract 2 consisted of 41.29 +/- tillable acres. Soils were Hoyleton and Hoyleton-Darmstadt silt loams, with a soil productivity index of 112.05. Tract 1 sold for $559,440 or $13,500/acre; Tract 2 sold for $540,899 or $13,100/acre.

Jefferson Township - Beckort Auctions offered on April 8, 66.18 +/- acres as two tracts. Tract 1 contained 54.87 +/- acres, with 43.61 +/- tillable (40.1 NCCPI soil rating), and frontage along Schafer Road. Tract 2, considered excellent recreational property, held 11.31 +/- mainly wooded acres, with 2 shallow water ponds. Frontage was along Schafer Road and State Highway 157. The two sold combined for $460,000 equating to $6,950/acre.

Indiana

Etna Green - On April 10, Metzger Property Services auctioned the former George’s Highlander bar and grill as a turnkey operation, complete with liquor license. The building sat on 1.35 acres along the historic Lincoln Highway. Updated in 2017, the facility had two prep areas, onsite meat smoking equipment, was handicapped accessible, and had four bathrooms. Equipment and furnishings conveyed with the sale. The final bid was $160,000.

Gibson County - Farmers National Co. held a live and simulcast online auction on April 30 of 63.33 ± acres. The property contained 57.49 +/- acres of cropland with a majority in Wakeland, Alford, Hosmer, Muren and Wakeford silt loam soils. 2.74 +/- acres were non-cropland, and 3.1 +/- acres were in a CRP. The sale was subject to an existing oil lease (no present payments), a hunting lease expiring September 2024 with income prorated at sale, and the existing CRP contract. Additionally, the buyer assumed the 2024 planted soy crop income and expenses. A sole bidder offered $538,305 calculating to $8,500/acre.

Kentucky

Rumsey - On April 11, Kurtz Auction and Realty presented 47.958 nearly all tillable acres, primarily in Belknap and Hosmer silt loams. The southern portion of the property was not located in the local FEMA floodplain, providing for a building site. Farming rights were granted the day of the sale. The high bid was $393,256 computing to $8,200/acre.

Symsonia - On April 10, Harris Real Estate and Auction held an absolute auction of a 2-bedroom/1-bath home on 4 +/- acres. The home featured a kitchen, living room, dining room, basement, and 14-foot-by-22-foot detached garage. Possible financing was offered through an affiliate partner. The winning bid was $66,000, pending final closing.

Michigan

Bay City - Albrecht Auction offered 71 +/- acres as three tracts on April 3. Tract 1 had 1.75 +/- acres, with a 1,450 square-foot 3-bedroom/2-bath home on a crawlspace, with an attached 2-car garage, and a 40-foot-by-64-foot-by-12-foot pole barn with concrete floor. Utilities, including gas and city water, were at the property although the home was currently on well water and septic. Tract 2 consisted of 26 +/- nearly all tillable acres. Soils were Londo and Tappan loams. There was existing cement field tile at 40 feet to 50 feet spacing. A small pump house for the tile was powered from Tract 1 and the buyer would need to pay for connection to their own power, plus pay the owner of Tract 1 in the interim. This field was planted in soybeans last year, with the buyer able to work the field prior to closing per agreement with the seller. TRACT 3 was 43 +/- acres, all tillable. Soils were Londo and Tappan loams. There was existing cement tile at 40 feet to 50 feet spacing and a pump with meter located on the property. This field was planted in sugar beets last year, with the buyer able to work the field prior to closing per agreement with the seller. Tract 1 sold for $160,000; Tract 2 also hit $160,000 computing to $2,253/acre. Tract 3 sold for $356,000 equating to $8,279/acre.

Belding - On April 16, Miedema’s LastBid Real Estate presented a 1998 built 4,391 square-foot home on 5 +/- acres. The 7-bedroom/3-bath 2-story was sited at the end of a private dirt road near Lincoln Lake. The house featured hardwood throughout the main level, full basement, laundry room, and multiple walk-in closets. It was on well/septic and had a generator hookup. Roof and furnace were replaced in 2022/23. A pole barn with an overhead door was adjacent. The high bid was $412,000 subject to owner’s approval.

Ohio

Orrville - On April 18, Kiko held a live and simulcast online auction of 9 +/- private acres offered as 3 tracts. Each was considered a prime building candidate, with good elevation, stately hardwoods, countryside views, and frontage along T.R. 448/Bair Road. Mineral rights conveyed with the sale. Tract 1 was 2.5 +/- acres, with 237 feet of frontage. Tract 2 had 2.7 +/- acres, with 560 feet of frontage. Tract 3 held 3.3 acres, with 150 feet of frontage. Tract 1 sold for $140,000 computing to $56,250/acre; Tract 2 went for $136,350 or $50,500/acre; and Tract 3 sold for $166,650 also $50,500/acre. Financing was available to qualified buyers.

Wayne County - Kaufman Realty and Auctions held a zero buyer’s premium auction of 12.6 +/- acres on April 25. The parcels, located near I-71, offered outstanding building sites, with level topography and good frontage on Ruff Road. Tract 1 was 4 +/- acres of open land, with 266 feet of frontage. Tract 2 had 3.5 +/- acres of open land, with 234 feet frontage; and Tract 3 contained 5.1 +/- acres of open land with 30 feet of access via easement off of Ruff Rd.  Tract 1 sold for $56,000, or $14,000 acre. Tracts 2 and 3 sold combined for $103,200, calculating to $12,000/acre.