Indiana farmland sells for $9,450 per acre

KENTLAND, Ind., Feb. 27, 2014 /PRNewswire/ — Tuesday’s auction of approximately
637 acres of farmland in Indiana’s Newton County farmland drew a capacity crowd
of well over 100 and resulted in a sale of $6.02 million, or $9,450 per acre.

The auction, conducted by Schrader Real Estate and Auction Company, attracted 40
registered bidders.

“For all the speculation about possible weakness down the road, we as
auctioneers deal with the reality of the open market on a given day. And that
reality is that there’s still a good market for quality farmland. All of our
2014 auctions to date have resulted in sales,” said R.D. Schrader, president of
the auction company.

“Farmland is still a great long-term investment, and we’re continuing to see a
lot of demand from both farmers and investors,” said Schrader. “The two farms we
sold in Newton County went as an entirety, but before they were combined for the
highest total bid, we had bids on the higher quality land reaching $9,900 per
acre.”

Schrader said other upcoming auctions will continue to provide clarity to the
market for midwestern farmland. “In March, we’ll be selling 533 acres in
Illinois and another 541 acres in Sullivan County, Ind. Then in April, we have
833 acres in Delaware County, Ind. Several upcoming sales of smaller farms will
also give useful indications,” he said.

Individuals interested in additional information about those and other
properties may call 800-451-2709 or visit schraderauction.com.

Schrader Real Estate and Auction Company, based in Columbia City, Ind., is a
leading auctioneer of agricultural land throughout the United States and is a
four-time USA Today/National Auctioneers Association Auction of the Year Winner,
as well as a two-time winner of the Grand Champion Marketing Award of
Excellence.

CONTACT: Carl Carter 1-205-823-3273

SOURCE Schrader Real Estate and Auction Company

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