SOURCE: Murray Wise Associates LLC

Murray Wise Associates LLC

April 07, 2011 08:53 ET

South Dakota Ranch to Be Auctioned

RAPID CITY, SD--(Marketwire - April 7, 2011) -  A 2,485-acre ranch in South Dakota's Pennington County will be offered at auction Tuesday, May 17, with Murray Wise Associates marketing the ranch and managing the sale.

The property includes pasture, a home, tillable land and ponds. It was previously known as the Gordon and Connie Howie Ranch, located approximately 10 miles southeast of Rapid City on Highway 44.

It will be sold in 23 tracts, ranging from 37 acres to more than 329 acres, according to Murray Wise, president of the auction company.

"When we sell land, we always seek to offer it in tracts of various sizes, because not everyone is in the market for 2,485 acres. In this case, 14 of the tracts will consist of less than 50 acres -- most of them between 35 and 45 acres. And all are contiguous to other parts of the ranch. What that means is that bidders can make offers on just the properties that fit within their means and budgets," said Wise.

By offering in tracts and allowing bids on combinations of various sizes, the company opens the competition to more potential buyers, said Wise.

"Demand for agricultural land is very strong right now, and that has attracted hedge funds and other large investors. If we offered this ranch only as a whole, it might be more difficult for local farmers and investors to compete. But we put the bidders seeking just a few acres on a level playing field with those who are seeking to buy larger portions or even the entire property," said Wise.

The auction will begin at 11 a.m. It will be held at Comfort Suites, 1333 North Elk Vale Road, Rapid City, S.D. Individuals seeking additional information may contact the company at 800-607-6888 or visit www.murraywiseassociates.com.

About Murray Wise Associates LLC
Murray Wise Associates LLC, headquartered in Champaign, Illinois, with additional offices in Florida and Iowa, is a leading national agricultural real estate marketing and auction company. The company also manages farmland assets for individual clients in Iowa, Kansas, Kentucky, Missouri, Minnesota, Nebraska, North Dakota, Oklahoma, South Dakota and Wisconsin. More auction information.

Contact Information

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

    Lindsay Fernandes
    205-823-3273