Located on the Ohio River approximately ten miles downstream from Henderson, Kentucky, Diamond Island sold for $6,166,028 by Kurtz Auction and Realty. The winning bidder was Mapleland Co., a local farm that plans to continue farming the property.
Estimated to be 1,468 acres, the historic Diamond Island includes a ferry barge, ferry landing site, and a grain bin complex on the other side of the river in Posey County, Indiana.
With its naturally fertile soil, Diamond Island has been used to produce corn and soybeans for decades. In addition to grain production, other potential income sources include oil, timber and hunting, as well as the leasing of docking rights to a barge company.
Owned by John H. Bower Heirs LLC, the heirs of John H. Bower, who with his brother was in the mule, land and timber business 100 years ago, the sale of this property marks the first time the property has changed hands in a century.
In a spirited auction that lasted just over three hours, Anderson Circle Farms in Harrodsburg, Kentucky sold for $25 million. The winning bidder, Justice Family Farms, also owns land in South Carolina, North Carolina, Virginia, and West Virginia.
At 5,529 acres, Anderson Circle Farms has been in the making since 1967, when Ralph G. Anderson began acquiring farms adjacent to his original 220-acre Mercer County Farm. For more than four decades, Mr. Anderson and his family worked hard to acquire and restore the remarkable historic estates that came to be known as Anderson Circle Farms.
Used primarily as farmland for cattle and crops, a total of 2,400 head of cattle live on the farm, including a purebred and commercial Angus herds. Anderson Circle Farms also includes 3,500 acres of high-quality, well managed tillable farmland, some of which is used for grain, vegetable, and tobacco production.
Drawing over 140 bidders, it was “hard to imagine a more dramatic finish than this one,” said R.D. Schrader, president of Schrader Real Estate & Auction. “A couple of bidders wanted the entire property but we had a lot of folks – including farmers, investors and other bidders – who were hoping to buy various parts of the land and the homes that were part of Anderson Circle Farms.”
Take a moment to scan the November edition of The Land Report newsletter. You’ll be amazed at the amount of activity going on in land markets currently.
Impending auctions of key parcels, record-setting new listings, fire-sale prices on bankrupt holdings – the number of transactions taking place in all sectors is quite encouraging and, as you will soon read, in all parts of the country.
P.S. Our award-winning quarterly magazine is available in a print version via subscription.
Five tracts in Western Tennessee and Kentucky totaling more than 600 acres will be auctioned on October 27. In addition to a considerable recreational component, the tracts are heavily timbered. According to Roebuck Auctions founder John Roebuck, these tracts are ideal investment opportunities that feature great hunting. A past president of the National Auctioneers Association, Roebuck has spent more than three decades in the auctioneering profession.
The breakdown on the tracts by location is as follows:
- 243± acres in McNairy County, Tennessee
- 195± acres in Hardeman County, Tennessee
- 9± acres in Hardeman County, Tennessee
- 58± acres in Hardin County, Tennessee
- 103± Acres in Calloway County, Kentucky
More details on the tracts, which will be auctioned by Roebuck Auctions on Thursday, October 27, is available HERE.
Date: Thursday, October 27, 2011 at 6:07 p.m. CDT
Selmer Airport Hanger (SZY)
2282 Airport Rd
Selmer, TN 38375
This Dallas banker teamed up with Ronald Perelman to sell Golden State Bancorp to Citigroup for $5.8 billion in 2002. Ford also owns the historic Diamond A Ranch in New Mexico and Diamond A Racing in Kentucky, which produced Pleasantly Perfect, winner of the Breeders’ Cup Classic in 2003 and the Dubai World Cup in 2004.