Sold! Wyoming’s Bighorn Lodge

Surrounded on three sides by Grand Teton National Park in Jackson Hole, Wyoming, the Bighorn Lodge sold last week in an auction that included bidders from eight states; the winning bidder is from New Hampshire.

Sitting on 5.32 acres, Bighorn Lodge features breathtaking and unobstructed mountain views. As a premier mountain residence built with “museum quality” Western Cedar logs from British Columbia, Canada, this luxury property is considered to be the most beautiful log home in Jackson Hole and the entire Rocky Mountain region.

Its proximity to Jackson Hole allows for endless outdoor activities, from world-class alpine skiing and fishing to hunting, horseback riding, and wildlife viewing.

Auctioned by Concierge Auctions, the final price and buyer are confidential.

On the Block: Wyoming’s Steele Creek Ranch

Situated on the east slope of the Big Horn Mountains, near the “Horn,” Steele Creek Ranch is considered to be one of the most scenic and private mountain frontage ranches in Wyoming.

At 2,570 ± acres, this working cattle ranch features a diversity of terrain and habitat – from rolling grasslands to red stone outcroppings and ponderosa pine forests. Steel Creek, a perennial spring-fed stream, dissects the property and provides year-round water for the abundance of wildlife, including pronghorn, mule deer, elk, Merriams’ turkey, Hungarian partridge, sage grouse, and a variety of other non-game animals.

Located near the Bighorn National Forest, this private and secluded ranch offers amazing opportunities for the trophy big-game hunters, specifically elk, mule deer, and pronghorn antelope. There are also many recreational opportunities, from horse-back riding and mountain biking to cross-country skiing and fishing.

Date: 1:00 pm Mountain Time on Thursday, January 19, 2012

Location: Steele Creek Ranch, 1040 Greub Road, Buffalo, WY 82834

For more information, or to receive a detailed brochure:
Mirr Ranch Group
(307) 674-7377
www.MirrRanchGroup.com

J.P. King Auctions
(800) 558-5464
www.JPKing.com

Sold! Kentucky’s Diamond Island

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.

On the Block: 3,379 acres of Farmland in Boone County, Illinois

Schrader Real Estate & Auction Company will manage the sale of the 48 tracts, which total some 2,900 tillable acres. “It’s possible that we will have some large investors seeking to purchase substantial amounts of land, but local farmers and investors seeking 100 acres or less will have an equal chance to buy the land they want,” says R.D. Schrader.

Located five miles east of Rockford, the tracts range in size from 2± acres to more than 200 acres and will be available for the 2012 crop year.

Date: 10:00 a.m. central time, November 19, 2011

Location: Community Building Complex of Boone County
111 W. 1st Street, Belvidere, Illinois 61008
Phone: (815) 547-3928

For more information:
Schrader Real Estate & Auction Company
(800) 451-2709
www.SchraderAuction.com

Land Report November 2011 Newsletter

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.

For more up to the minute reports on listings, auctions, sales, and breaking news pertaining to land and landowners, be sure to follow The Magazine of the American Landowner on Facebook and Twitter.

P.S. Our award-winning quarterly magazine is available in a print version via subscription.

Sold! Nebraska’s Circle Cross Ranch

Update 12/2011

Forty-three minutes into the auction, the entire Circle Cross Ranch in Valentine, Nebraska sold for $11.75 million. The winning bidders, cattlemen Danny Weinreis of Minatare, Neb., and Gene Weinreis of Golva, N.D., along with their brothers, plan to continue operating Circle Cross as a cattle ranch. According to Danny Weinreis, “It’s really great cattle country here. We’re cow-calf operators. That’s what we’re looking for: a good feed base and a place to run mother cows.”

Auctioned by Hall and Hall, the auction attracted some of Cherry County’s largest landowners and about 30 bidders from across the country.

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Nestled in the Sandhills region of Northwestern Nebraska lies the spectacular 40,520± acre Circle Cross Ranch. Tucked in against the Niobrara National Scenic River, the Circle Cross  is located about 20 minutes southwest of the Nebraska town of Valentine. The Circle Cross includes 12,020± deeded acres, a 16,500± acre permit in the McKelvie National Forest, 3,400± acres of private and state lease,  and some 8,600± acres of additional private leases.

The ranch is irrigated by several wells on the property as well as pumps drawing water from the Niobrara. Approximately 1,100 acres of the ranch are irrigated through 7 pivot irrigation systems. The water is of excellent quality and abundant. Several stock tanks and ponds also dot the landscape around the ranch.

Cattle thrive on the Circle Cross’s vast grasslands and prairies. In addition, hay, corn, and other crops can be easily grown thanks to the well-developed irrigation system on the property.

Driving through the ranch you’ll find open plains, rugged terrain, and scenic trails following the river and through its many wooded areas. The land use permits on the adjacent Samuel R. McKelvie National Forest add additional grazing and recreational opportunities.

The Circle Cross is an ideal setting for operating a cattle operation, for crop production, or for a country gentlemen’s ranch and getaway.

Date: 10:00 a.m. Central Time, December 2, 2011

Location: Valentine, Nebraska

For more information or to receive a detailed brochure:
Hall and Hall Auctions
(800) 829-8747
www.HallandHall.com 

On the Block: 600+ Acres in Kentucky and Tennessee

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

Location:
Selmer Airport Hanger (SZY)
2282 Airport Rd
Selmer, TN 38375

Roebuck Auctions
(901) 763-2825

Sold! Colorado’s Banning Lewis Ranch

This week, Ultra Resources confirmed that the company had purchased 18,000 acres of the Banning Lewis Ranch for $20 million. With the sale now complete, the U.S. Bankruptcy Court and the City of Colorado Springs will need to determine whether the city land-use agreements related to the city’s 1988 annexation of the ranch should remain intact.

Confirming the purchase of the ranch, an Ultra spokeswoman said that the company expects to drill for oil and natural gas on the ranch. And it appears that the Banning Lewis deal may be just one part of Ultra’s plans for drilling in the area, as the company paid $1.67 million in July and August to Denver-based Pine Ridge Oil & Gas for leases on nearly 100,000 acres of land in eastern El Paso County and an exploratory well east of Fountain.

According to Colorado Springs Mayor Steve Bach, the sale of most of Banning Lewis Ranch to Ultra means “there is a real possibility that the Banning Lewis Ranch will not be built into residential and commercial neighborhoods as previously expected.”

In a statement, Colorado Springs City Attorney Chris Melcher said that the city will continue negotiations with Ultra “to reach a satisfactory resolution of the annexation issues, but if that effort is not successful the city intends to seek enforcement of all rights and responsibilities under the agreement in the Colorado bankruptcy court of Colorado state court.”

Click HERE to read more.

 

 

Sold! Texas’s Camp Cooley Ranch

SEPTEMBER 6 UPDATE:

Camp Cooley Ranch sold at auction for $28.5 million to Circle X Land and Cattle Company August 4. Twenty-two qualified bidders, along with their families, attorneys, lenders, and consultants, attended the auction, which was held at the Robertson County ranch. The $28.5 million sale price included surface and mineral/royalty interests. All equipment and personal property was offered through a separate transaction.

According to Bernard Uechtritz of Great Estates Ranches, Camp Cooley ranks as one of the most beautiful ranches in the nation, thanks to its topography, abundant waters, and multi-million-dollars of improvements. “In the cattle industry, Camp Cooley is a major brand name,” he said. Uechtritz coordinated the extensive marketing campaign leading up to the auction; the auction itself was overseen by Hall and Hall Auctions.

Read more details HERE.

JULY 25 UPDATE:

In the midst of a statewide drought that is crippling Texas farms and ranches, Camp Cooley Ranch continues to thrive.

“Camp Cooley is an oasis,” says Bernard Uechtritz during a telephone conversation from the headquarters of the Central Texas ranch. “Every other ranch I’ve seen over the last few weeks has browned up, but not Camp Cooley. It continues to irrigate, to fertilize, and to bale hay. Take a look at that aerial video at Camp Cooley.com. We shot that two weeks ago, and everything was still green. Still is. Name another ranch in Texas that is baling hay in late July.” According to Uechtritz, Camp Cooley Ranch has a year round carrying capacity of 4,000 head, and as recently as two weeks ago was running 4,700 head.

As the August 4 auction deadline approaches, Uechtritz reports that multiple stalking horse bids have been received for specific assets as well as for the entire ranch. “The action has been terrific. We’ve easily had 20-plus parties tour the ranch and given it a serious look,” Uechtritz says.

Leading the list has been a large number of cattle companies that recognize Camp Cooley’s turnkey potential. “Readers of The Land Report would immediately recognize the names of many of these famous ranch operators. These guys know what a once-in-a-lifetime opportunity Camp Cooley presents,” Uechtritz says. Other parties who have toured the ranch have eyed the mineral rights, the water rights, royalty revenues, the hunting preserve, and the possibility of developing a wetlands mitigation bank.

“Watching the interest build around Camp Cooley has been extremely exciting for Hall and Hall,” Scott Shuman says, head of Hall and Hall’s Auction Division. “When you get a property with the history and the potential of Camp Cooley and combine it with such close proximity to major metropolitan areas such as Houston, Dallas, Austin, and San Antonio, it’s bound to generate a ton of interest. And we’re definitely seeing that. I expect the pace to pick up even more as the auction date approaches.”

Buyer’s registration forms and bidder’s packets for the invitational auction are being released on Friday, July 22. Bidders must pre-qualify and be invited to attend the August 4th auction, which is presently scheduled to take place at Camp Cooley Ranch. Through the protected buyer process that was approved by the court, there is also the possibility of a private treaty sale prior to the August 4 auction.

Learn more HERE.

JULY 15 POST:

A Texas icon goes on the block this August as Camp Cooley Ranch is to be auctioned off by Hall and Hall Auctions. At 10,600± acres, Camp Cooley is one of the largest properties in close proximity to Houston, Dallas, Austin, and San Antonio. A sophisticated multi‐level turnkey cattle and commercial hay operation, Camp Cooley generated more than $700,000 in grazing revenues, more than $1.5 million from commercial hay operations, and more than $1.4 million in gas royalties in 2010. In addition, there are considerable untapped revenue streams associated with existing gas and water rights. Located in the heart of the Lone Star State near Franklin, Camp Cooley will be auctioned by Hall and Hall as a single tract on August 4, 2011.

Download a comprehensive presentation with complete details via PDF HERE, or take a tour online at Camp Cooley.com.

LOCATION

Camp Cooley Ranch is located in Robertson County in the heart of Central Texas and is bounded by the Navasota River to the east. Approximate drive times are as follows: Bryan-College Station, 30 minutes; Austin, 90 minutes; Houston, two+ hours; Dallas, two+ hours; San Antonio, three hours.

HISTORY

The ranch takes its name from the Civil War

Houston entrepreneur Bert Wheeler assembled Camp Cooley from dozens of neighboring tracts. As Camp Cooley’s renown grew, Wheeler hosted such Texas luminaries as John Connally and Lyndon Johnson.

Under current owner Klaus Birkel, Camp Cooley Genetics has become one of the country’s best known seedstock cattle operation, running up to 4,500 cow/calf pairs and as many as 2,000 bulls.

ASSETS

Ranch headquarters is a 8,590-square-foot lakeside main residence. Improvements include a 15-suite executive office complex, meeting rooms, and security and communication systems to monitor the ranch.

The entire ranch is served by a computer-monitored water well system, including all residences, barns, workshops, a multi‐use sale pavilion, and the breeding and cattle workstations. There are approximately 84 miles of roads in place on Camp Cooley.

Camp Cooley boasts rolling terrain that boasts numerous lakes, abundant woodlands, as well as wetlands that are ideal for development as a mitigation bank. The ranch’s 1,000‐acre exotic game preserve is among the oldest in the state and could be increased in size.

OPPORTUNITY

Qualified bids need to be submitted by Wednesday, July 27 at 5 p.m. (CST). For more information on this auction, contact Bernard Uechtritz at (214) 608-8567 or Scott Shuman at (800) 829-8747.

Indiana Farmland Reaches New Highs

Recent record-setting prices for prime Indiana farmland prompted The Land Report to reach out to Rex Schrader, chief financial officer of Schrader Real Estate & Auction Company. In late June, the company’s auction division sold properties in Spencer and in Randolph counties. Both auctions saw record prices per acre.

The Spencer County land sold at prices as high as $6,875 per acre, with most of the tillable land selling for $6,428 and $6,554 per acre. “We sold about 223 acres of this land in 2003 for $1,930 per acre, which was good at the time. It’s more than tripled,” said Schrader. Mason Seay, a longtime agriculture specialist for German American Bank, said the price was “the highest ever for land in Spencer County for row crop production.” Approximately 82 percent of the Spencer County land was tillable.

In the Randolph County auction, 551 acres sold to a single buyer for $2,677,500, or $4,859 per acre. “Like the Spencer County land, this property had appreciated considerably,” said Schrader. “The price varies according to quality and location, but across the board the clear direction is up.”

Schrader’s many years in the business led him to share some other observations on the current ag land market. “The larger the acreage offering, the more interest there is,” he says. “Ten years ago at a Schrader auction, a lot more buyers ended up on the winning end. More lots sold in smaller tracts. Today we’re seeing a trend of more and more farms being purchased in whole.”

Read the Chicago Fed’s most recent report on rising farmland values HERE.

Although some skeptics assert that the current market for top ag land has all the makings of a bubble, Schrader disagrees.  ”I don’t believe it is a bubble. This market is based on income, on expected income. Commodity markets lead land prices. Follow corn prices over the past few years and you can see why land prices continue to rise,” Schrader says.

A second driver pushing up prices is basic economics. Schrader cites the limited supply of ag land and points out that those farms tend to remain tightly controlled by farmers or farming interests.

A third and final consideration is alternative investment vehicles. Anyone who has paid attention to the schizophrenic gyrations of the Dow this week knows that a low correlation exists between investing in equities and sleeping easy.

So who continues to push prices higher? Despite the entry of non-traditional investors into the market, Schrader sees farmers as the principal drivers. “The farmer is still the bull in the market place. They are the ones driving the market. Right now, the debt to asset ratio of most farmers is very low. They’ve made a lot of profit in the last three to four years. On top of that, other investors such as investment funds typically have to look at returns as a rigid guideline. That gives a farmer a little more leeway to pay a slight premium above the ratio of net income to purchase price.”

Schrader’s closing comments aren’t about land. They are about capital:

It’s amazing how much money is out there today. And it’s all waiting to pounce on the right piece of property. - Rex Schrader

Based in Columbia City, Indiana, Schrader Real Estate and Auction Company is a leading auctioneer of tillable farmland throughout the U.S. Individuals seeking additional information about the firm and its auctions may visit www.schraderauction.com or call (800) 451-2709.

Subscribe to the Magazine of the American Landowner HERE.

 

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