We Sell Farm & Ranch Real Estate...Differently

2007 Case Studies

MEIER IRRIGATED LAND AUCTION - 282.5 ac +/- pivot & flood located in Sedgwick County, CO. This auction was held on December 18, 2007, at the Sedgwick Cty Fairgrounds in Julesburg, CO.    The sellers were an estate and dissolution of a family corporation.  The property was offered in 2 parcels with a minimum bid of $315,000 and sold in 2 parcels for a total of $495,000. One buyer was an investor and the other was an investor who owned the adjoining property. 50 auction attendees with 23 registered bidders. 91 days from signing of listing contract to closing. 

 

 

RIVERBOTTOM ▪ JUMBO HUNTING PROPERTY AUCTION - 165.8 ac +/- South Platte Riverbottm Hunting property and property located adjacent to Jumbo reservoir located in Logan County, CO.  This auction was held on December 13, 2007, at the Crook Community Center in Crook, CO.  There were two sellers.  One seller inherited the property and had been in the family for over 60 years. The other seller was selling adjoining property for estate planning. The South Platte Riverbottom minimum bid was $96,000 and sold for $252,500.  The property adjoining Jumbo Reservoiri was offered as 2 parcels and as a single unit for a minimum bid of $170,000 and sold with a minimum bid of $205,000. The buyer for the South Platte property is a owner operator who will hunt the other buyer as an investor. 44 auction attendees with 15 registered bidders. 73 days from signing of listing contract to closing.

 

 

BUDIN ▪ WELD CTY RANCH AUCTION - 9,000 ac +/- pasture & improvements located in Weld County, CO. This auction was held on November 26, 2007, at the Ramada Inn in Sterling, CO.    There were a total of 5 sellers who had inherited and leased the property to tenants.  The property was offered in 3 parcels, 1 combination, and as a single unit with a minimum bid of $1,340,000 and sold as a single unit for $2,600,000. The buyer was owner operator who had sold other property and was completing a 1031 exchange. 155 auction attendees with 41 registered bidders. 66 days from signing of listing contract to closing.

 

 

SMITH DRYLAND AUCTION - 963 ac +/- dryland, CRP, & improvements located in Logan County.  This auction was held on October 16, 2007, at the Ramada Inn in Sterling CO.    The auction was a result of the seller’s divorce settlement.  The property was offered in 8 parcels, 2 combinations, and as a dryland unit with a minimum bid of $442,500 and sold as a dryland single unit $630,000. The buyer was reinvesting from a 1031 exchange and lease to a tenant. 60 auction attendees with 25 registered bidders. 91 days from signing of listing contract to closing.

 

 

PETRINO PASTURE AUCTION - 2,492 ac +/- pasture located in Adams County. This auction was held on October 10, 2007, at the Country Steak-Out in Fort Morgan, CO.    The sellers were 5 siblings who inherited the property.  The property was offered in 2 parcels and as a single unit with a minimum bid of $582,500 and sold as a single unit for $830,000 as a single unit. The buyer was the adjoining owner-operator. 16 auction attendees with 6 registered bidders. 84 days from signing of listing contract to closing. 

 

 

BONDHUS DRYLAND AUCTION - 1,458.6 ac +/- dryland located in Washington County. This auction was held on September 6, 2007, at the Washington County Fairground’s Event Center.  The seller had inherited the property and leased it for years to tenants.  The property was offered in 6 parcels, 2 combinations, and as a single unit with a minimum bid of $620,000 and the property sold in 2 parcels and 2 combinations for $852,500. 3 buyers were 3 local owner operators and 1 buyer was a investor with ties.  60 auction attendees with 17 registered bidders. 84 days from signing of listing contract to closing.

 

 

PANTRY STOP STORE FRONT PROPERTY AUCTION – Commercial property downtown Sterling.  This auction was held on July 17, 2007, at the Pantry Stop in Sterling, CO.  The seller was an owner operator who had closed their retail business.  The property was offered as 1 parcel with a minimum bid of $155,000 and sold for $199,000. The buyer was another retail business who relocated to downtown Sterling.  27 auction attendees with 7 registered bidders. 61 days from signing of listing contract to closing.

 

 

THE WILLIAM STRETESKY FOUNDATION CRP LAND AUCTION - 1,105 ac +/- CRP located in Deuel County, NE. This auction was held on June 27, 2007, at the Lions Club Building in Chappell, NE.  The seller was a foundation.  The property was offered in 2 parcels and as a single unit with a minimum bid of $265,000 and sold as a single unit for $417,500. The buyer was adjoining landowner.  24 auction attendees with 7 registered bidders. 78 days from signing of listing contract to closing.

 

 

CB LAND CO RIVERBOTTOM AUCTION - 456 ac +/- South Platte Riverbottom with 2 miles of river frontage & improvements located in Morgan County. This auction was held on June 25, 2007, at the Country Steak-Out in Fort Morgan, CO.  The sellers were owners who were using for hunting.  The property was offered in 3 parcels, 1 combination, and as a single unit with a minimum bid of $1,540,000 and sold as a single unit for $1,540,000. Two buyers purchased together to hunt. 24 auction attendees with 7 registered bidders. 84 days from signing of listing contract to closing.

 

 

VONDY DRYLAND, CRP, & PASTURE AUCTION - 1,760 ac +/- dryland located in Morgan County CRP, & pasture.  This auction was held on May 1, 2007, at the Country Steak-Out in Fort Morgan, CO.  The seller was family trust.  The property was offered in 8 parcels, 2 combinations, and as a single unit with a minimum bid of $550,000 and sold as 8 parcels for $650,500 to 6 buyers. One buyer bought the CRP as an investment, one buyer bought to reinvest 1031 funds and owner operate,  and 4 buyers were owner operators. 50 auction attendees with 15 registered bidders. 76 days from signing of listing contract to closing.

 

 

COPE GRAIN ELEVATOR AUCTION – 960,000 bu grain storage facilities located in Washington & Cheyenne Counties.  This auction was held on April 17, 2007, at The Club @ Indian Hills in Yuma, CO.  .  The seller was estate who family had operated the facilities.  The property was offered in 2 parcels with a minimum bid of $160,000 and sold to one buyer for $197,500. The buyer was a grain elevator operator who lease the facility. 3 auction attendees with 2 registered bidders. 131 days from signing of listing contract to closing.

 

 

SANDSTEAD CRP & PASTURE LAND AUCTION - 759 ac +/- CRP & pasture located in Logan County. This auction was held on April 3, 2007, at the Ramada Inn in Sterling, CO.    The sellers were an older couple where the husband passed away before the auction.  The property was offered in 5 parcels, 2 combinations, and as a single unit with a minimum bid of $222,500 and sold as a single unit for $322,500. The buyer was owner operator. 42 auction attendees with 18 registered bidders. 60 days from signing of listing contract to closing.

 

 

C & T MARTIN PIVOT & GRASS LAND AUCTION - 1,720 ac +/- pivot irrigated, grain storage, and pasture located in Chase County, NE.  This auction was held on March 27, 2007, at the Imperial Inn in Imperial, NE.    The seller was owned by a mother and son who leased the property. The property was offered in 7 parcels, 2 combinations, and as a single unit with a minimum bid of $1,525,000. The pivot irrigated sold as one unit and the pasture separately for a total $2,075,000 to two owner operators. 68 auction attendees with 16 registered bidders. 66 days from signing of listing contract to closing. 

 

 

GOSS RIVERBOTTOM & IRRIGATED FARMLAND AUCTION - 457 ac +/- South Platte Riverbottom hunting, flood irrigated & improvements located in Morgan County. This auction was held on February 21, 2007, at the Country Steak-Out in Fort Morgan, CO.    The seller was 2 brothers who split their interest.  The property was offered in 3 parcels and as a single unit with a minimum bid of $1,050,000 and sold as a single unit for $1,700,000. The buyer was a group of investors who purchased the property to hunt.  68 auction attendees with 11 registered bidders. 111 days from signing of listing contract to closing.

 

 

STALEY LAND AUCTION - 80 ac +/- flood irrigated & improvements located in Morgan County. This auction was held on February 20, 2007, at the Country Steak-Out in Fort Morgan, CO. The seller was elderly leasing the property.  The property was offered in 2 parcels and as a single unit with a minimum bid of $280,000 and sold in 2 parcels for $415,000. Both buyers were owner operators. 47 auction attendees with 14 registered bidders. 93 days from signing of listing contract to closing. 

 

 

HARMS DRYLAND AUCTION - 1,022 ac +/- dryland, grass, & CRP located in Logan County.  This auction was held on February 13, 2007, at the Ramada Inn in Sterling, CO.  The seller was two brothers retiring from farming.  The property was offered in 4 parcels, 1 combination, and as a single unit with a minimum bid of $315,000 and sold in 3 parcels for $445,000. The buyers were owner operators. 55 auction attendees with 21 registered bidders. 70 days from signing of listing contract to closing. 

 

 

MAROSTICA RANCH AUCTION - 1,141 ac +/- pasture & flood irrigated located in Logan County. This auction was held on February 13, 2007, at the Ramada Inn in Sterling, CO.  The seller was a farmer/rancher in the area who leased this property to tenants.  The property was offered in 4 parcels, 1 combination, and as a single unit with a minimum bid of $625,000 as sold as a single unit for $785,000. The buyers were local owner operators. 49 auction attendees with 11 registered bidders. 79 days from signing of listing contract to closing.

 

 

CSU MEAT PROCESSING PLANT AUCTION – Meat processing plant located in Larimer County.  This auction was held on January 22, 2007, at CSU’s ARDEC in Fort Collins, CO.  The seller was Colorado State University.  The property was offered with a minimum bid of $310,000 sold for $357,000. The buyer was an owner operator.  13 auction attendees with 4 registered bidders. 115 days from signing of listing contract to closing.