Strong Sales in a Softer Market

IOWA

1,306.83 acres in Fremont Co., IA, located southwest of Thurman, sold via private treaty in mid-July. This partially irrigated farm had 1,140.63 tillable acres with a CSR2 rating of 74.20. There were 104 acres, m/l, in timber. Farm included an older dwelling and multiple outbuildings and grain bins. Farm sold to a farmer-buyer at $12,894/Ac., or $199.09/CSR2 point/tillable acre.

240.56 acres in Butler Co., IA, located northeast of Aplington, was offered in 2 parcels via One-Chance Sealed Bid sale in early October. Parcel 1, consisting of 116.77 total acres, sold for $15,700/Ac., or $190.37/CSR2 point/tillable acre with 107.00 crop acres and a CSR2 rating of 90.00. Parcel 2, consisting of 123.79 total acres, sold for $16,600/Ac. Or $186.90/CSR2 point/tillable acre with 119.12 crop acres and a CSR2 rating of 92.30. Both parcels sold to a local farmer.

ILLINOIS

273.52 acres in Mercer Co., IL, located south of Seaton, was offered in 3 parcels via Virtual Online auction in late October. Parcel 1 had 81.48 total acres with 80.79 estimated tillable acres and a PI rating of 137.90. It sold for $17,000/ac., or $124.33/PI point/tillable acre. Parcel 2 had 88.14 total acres with 66.14 estimated tillable acres; 17.14 acres in CRP; and a PI rating of 130.50. It sold for $13,000/Ac., or $132.75/ PI point/tillable acre. Parcel 3 had 103.90 total acres with 92.51 tillable acres and PI rating of 130.10. It sold for $11,800/ac., or $101.87/PI point/tillable acre. All three parcels were sold to farmer-buyers.

80.00 acres in Tazewell Co., IL, located west of Minier, sold via Virtual Online auction in mid-November. This property had 78.69 tillable acres with a PI rating of 141.90 and sold for $20,600/Ac., or $147.59/PI point/tillable acre.

MINNESOTA 

668.46 acres in Blue Earth Co., MN located northeast of Minnesota Lake, sold via Hybrid auction in early-September in 6 parcels. The individual parcels ranged in size from 40.25 acres up to 161.07 acres with tillable acres ranging from 40.43 acres up to 154.46 acres. CPI ratings ranged from 77.90 up to 84.60, giving the seller a price per CPI point/ tillable acre that ranged from $140.22 to $168.37 (average of $154.70).

SOUTH DAKOTA

1,275.70 acres in Clark Co., SD, located southwest of Clark, sold via One-Chance Sealed Bid sale in mid-October. The property was predominantly grass, spring-fed pastureland, but also had 271.18 tillable acres with a PI rating of 78.30. Property included older livestock buildings, a machine shed, Morton shed, grain bins and concrete silos. The farm sold for $3,998/ac., or $240.19/PI point/tillable acre to a farmer buyer. 

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