Auction of farm in McLean County, Illinois, draws 40 bidders
BLOOMINGTON, Ill., Sept. 15, 2014 /PRNewswire/ -- The auction of approximately 294 acres of McLean County farmland on Friday, Sept. 12, attracted 40 registered bidders, resulting in a sale for more than $3.2 million.
"This was a really big response for the size of the farm, but it demonstrates what we've been seeing all year – that buyers are looking for higher quality land and thinking in terms of long-term returns," said Joe Bubon, executive vice president of Murray Wise Associates, which managed the sale.
"The tillable land went to two different investors, which is noteworthy when you remember that three-fourths of the farmland in recent auctions has been selling to farmers. Despite the soft corn prices we've seen this year, investors are buying quality land that will provide them a solid return," said Bubon.
Jean Miller, representing the family selling the farm, said she was "delighted" with the results of the auction.
"Throughout the weeks leading up to the auction, the staff of Murray Wise Associates did a superb job of advertising our farm and assisting the prospective bidders with detailed information. I feel sure this led to the strong turnout and the positive outcome. We could not be more pleased," she said.
The farm is located in the Allin and Dale Townships, approximately 10 miles west of Bloomington.
Upcoming auctions include the offering of 447 acres in DeWitt County (Nov. 6) and 750 acres in Clay County (Nov. 17).
Individuals seeking additional information about those and other auctions may visit www.murraywiseassociates.com or call 800-607-6888.
Murray Wise Associates LLC, headquartered in Champaign, Ill., is a leading national agricultural real estate marketing and financial advisory firm, with additional offices in Florida and Iowa.
For more information:
Carl Carter, 205-823-3273
SOURCE Murray Wise Associates LLC
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