Farmland prices show strength in Nebraska auction

PAPPILLION, Neb. — Farmland prices continued to show strength Monday as Schrader Real Estate and Auction Co. auctioned approximately 850 acres for $5.97 million in Sarpy County, near Omaha.

The tillable land brought prices ranging from $3,553 to $14,711 per acre, with the lower and higher ends reflecting flood and development potential, according to R.D. Schrader, president of the company.

“The location - with some land along the Missouri River and some served by water and sewer - resulted in a wide variation in prices per acre. But the demand was strong across the board, reflecting the continued strength in prices of agricultural land. On the 380 acres that were comparable to similar tillable land in Nebraska, the price was almost $5,800 per acre, which is extraordinary by historical standards,” said Schrader.

Most of the tillable land included in the sale is currently used for soybeans and corn.

Strong Asian demand for American soybeans, corn and other crops has helped feed strong commodity prices, and that has translated into increased demand for farmland, according to Schrader.

“We hadn’t had a lot of opportunities to auction tillable Nebraska land in the current environment, so we were glad to see a favorable market response to our proprietary method of selling farmland in tracts and encouraging bids on various combinations of tracts,” he said.

Kentucky farm auction is scheduled for April 29

LEXINGTON, Ky. (AP) — The central Kentucky farm of a one-time attorney convicted of scamming millions from clients in a diet-drug settlement has been ordered sold.

The U.S. Marshals Service is set to sell at auction Shirley Cunningham Jr.’s Hillcrest Farm on April 29.

Cunningham was sentenced in 2009 to 20 years in prison for keeping millions of dollars which should have gone to clients injured by the diet-drug combination of fenfluramine and phentermine. The case is under appeal.

LPS Auctions, the Chicago-based firm handling the sale, listed the 160-acre farm and 3,600 square-foot house in Georgetown at $3.4 million, The Lexington Herald-Leader reported.

Cunningham and another former attorney, William Gallion, were ordered to pay $127 million in restitution to the victims and to forfeit $30 million to the federal government.

South Dakota ranch will be auctioned on May 17

RAPID CITY, S.D. — A 2,485-acre ranch in South Dakota’s Pennington County will be offered at auction Tuesday, May 17, with Murray Wise Associates marketing the ranch and managing the sale.

The property includes pasture, a home, tillable land and ponds. It was previously known as the Gordon and Connie Howie Ranch, located approximately 10 miles southeast of Rapid City on Highway 44.

It will be sold in 23 tracts, ranging from 37 acres to more than 329 acres, according to Murray Wise, president of the auction company.

“When we sell land, we always seek to offer it in tracts of various sizes, because not everyone is in the market for 2,485 acres,” said Wise.

“In this case, 14 of the tracts will consist of less than 50 acres – most of them between 35 and 45 acres. And all are contiguous to other parts of the ranch. What that means is that bidders can make offers on just the properties that fit within their means and budgets.”

By offering in tracts and allowing bids on combinations of various sizes, the company opens the competition to more potential buyers, said Wise.

“Demand for agricultural land is very strong right now, and that has attracted hedge funds and other large investors,” said Wise. “If we offered this ranch only as a whole, it might be more difficult for local farmers and investors to compete. But we put the bidders seeking just a few acres on a level playing field with those who are seeking to buy larger portions or even the entire property.”

The auction will begin at 11 a.m. It will be at Comfort Suites, 1333 North Elk Vale Road, Rapid City, S.D. Individuals seeking additional information may contact the company at 800-607-6888 or visit www.murraywiseassociates.com

1,530 acres will be sold near downtown Tulsa

TULSA, Okla. — On May 23 at 1 p.m. 1,530 acres located near downtown Tulsa, will be offered at public auction by Hall and Hall Auctions at the Tulsa Air and Space Museum. The property, offered in 11 tracts ranging from 20 to 320 acres, is a nice mixture of recreational land, tillable farmland and pecan orchards.

Every tract has extensive frontage on well-maintained Tulsa County paved roads, and the southeast side of the property borders Bird Creek. For more information contact Scott Shuman, head of Hall and Hall Auctions at 1-800-829-8747 or visit www.hallhall.com/auction-services

The multi-parcel method of sale will allow ranchers, farmers, investors, hunters and outdoor enthusiasts to bid on individual land tracts or combinations of tracts that will best suit their needs. Hall and Hall expects a diverse group of bidders to attend this auction. Potential buyers will be able to bid on their choice of tracts, any combination of tracts, or on the entire property.

“This land is ideal for the investor seeking to increase his or her portfolio, or a local farm operator expanding an operation,” said Shuman. “For the hunter or outdoor enthusiast, this property offers a tremendous opportunity.”

An inspection date for potential bidders to meet with Hall and Hall staff, view the properties, and ask questions is set for May 12 from 9 a.m. to noon. Interested parties should meet Hall and Hall representatives on that date on Tract 3 to view the property and pick up additional information. Contact Scott Shuman for more details at scott@hallandhall.com or 800-82-8747.

Real estate veteran Weinzetl joins Murray Wise Associates

CHAMPAIGN, Ill. — Real estate and auction veteran Michelle “Shelly” Weinzetl has joined Murray Wise Associates as a vice president in the company’s auction division, which specializes in agricultural properties nationwide.

Weinzetl, previously a partner in Minnesota-based Alliance Auction and Realty Services, will be responsible for lining up and managing auctions in Minnesota, North Dakota, South Dakota, eastern Colorado, Oklahoma, Nebraska, Kansas, Montana, eastern Wyoming and northern Texas.

“We’re delighted to add a professional with Shelly’s credentials. She has the experience to work with farmers, ranchers and owners of agricultural land to help them make smart decisions in bringing their land to auction,” said Ken Nofziger, president of Murray Wise Associates.

Weinzetl said her desire to focus more on agricultural land was a driving factor in her decision to join Murray Wise.

“No auction company has a better track record for selling large farms and ranches, and their methods of marketing land in multiple tracts ensure the best possible result. That is important to me,” said Weinzetl.