SOURCE: Schrader Real Estate & Auction Company

Schrader Real Estate & Auction Company

March 05, 2012 10:30 ET

Major Auction of Farmland Set for Whiteside County, Ill.

ERIE, IL--(Marketwire - Mar 5, 2012) - Approximately 1,322 acres of quality Illinois farmland in Whiteside County will sell at auction March 21, with Schrader Real Estate & Auction Company managing the sale.

The land will be offered in nine tracts, ranging from 25 acres to 385 acres, and bidders will be allowed to bid on individual tracts, combinations or the entire property.

"This is excellent quality corn and soybean land that has been held by Proventus LLC and Proventus II LLC, an investment group, for several years," said R.D. Schrader, president of the auction company.

"With the growing acceptance of farmland as an attractive asset class with excellent returns, more investors have been showing an interest, but many have expressed a desire for more properties of 1,000 acres or more. Given the amount and quality of the land, this will likely get the attention of some. There is a good bit of contiguous land in this auction, including four tracts that make up a contiguous 595 acres," said Schrader.

By selling the land in tracts, the auction process also makes it easy for farmers or smaller investors to purchase land. "We like to sell in tracts because it allows bidders to bid on tracts based on their specific needs. In many cases, the land will go to a combination of small-tract buyers. The tracts will sell in the combination that brings the highest total price for the seller. We could have one buyer for the entirety or up to nine buyers buying tracts," said Schrader.

Some of the land includes frontage on U.S. Highway 88.

The auction will be held at Erie High School, Erie, at 6 p.m. Wednesday, March 21. Schrader personnel will be available at the Erie United Methodist Church Hall for inspections from 10 a.m. to noon Thursday, March 8. Individuals seeking additional information about the auction may visit www.schraderauction.com or call 800-451-2709.

Schrader Real Estate and Auction Company, based in Columbia City, Ind., is a leading auctioneer of agricultural land throughout the United States.

Contact Information

  • For more information:
    Carl Carter
    205-823-3273