SOURCE: Schrader Real Estate & Auction Company

Schrader Real Estate & Auction Company

June 16, 2011 11:15 ET

Former American Countryside Farmers Market, Land Sell for $4.93 Million

ELKHART, IN--(Marketwire - Jun 16, 2011) - After months of waiting and speculation, the future of the American Countryside Farmers Market finally came into view Wednesday night as a capacity crowd jammed into three levels of the building for the auction of the market and the adjoining land.

By the time the bidding ended, the 315-acre property had sold to two bidders for a total of $4.93 million. The 51,000-square-foot building and 275 acres sold for $3.78 million to Borden Waste-Away, a local firm that indicated an interest in relocating its headquarters to the building. The remaining 40 acres were purchased by a separate bidder. The auction attracted 69 registered bidders.

"We had a healthy competition between bidders who just wanted a few tracts and those seeking larger combinations," said R.D. Schrader, president of Schrader Real Estate & Auction Company, the Columbia City, Ind., firm that marketed the property and conducted the auction. "The new owners of the building and 275 acres said they feel this property can give them room to grow the company, and I hope it does just that. I expect they'll be announcing their plans for it in due time," he said.

One thing is certain: Borden Waste-Away will have a corporate home like no other. The building, one of the area's best-known landmarks, was built in 2006 by Amish craftsmen and is the world's largest structure framed with peg-reinforced mortise-and-tenon joinery.

Schrader Real Estate and Auction Company, based in Columbia City, Ind., is a leading auctioneer of land throughout the United States. Individuals seeking additional information about the firm and its auctions may visit or call 800-451-2709. More auction information.

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