MARSHALL, Ill. — For the first time in over 75 years, Maurer-Ensor-Fraley Farms — located in Clark County, just southeast of Marshall — was recently offered to the public for sale. Portions of the farm had been family-owned for over 150 years.
Most farmland is now sold through auctions, since that method can help sellers get higher value due to competitive bidding. However, in addition to three farm tracts, the property also includes two recreational parcels, for which a traditional real estate listing is more common.
Rather than sell all five tracts through either method, Ranch & Farm Auctions decided on a two-pronged approach — auctioning the farmland, nearly 80% of which consists of income-producing acres, and relying on a traditional listing for the recreational land, which offers deer and turkey hunting, fishing and camping opportunities.
Adam Crumrin, an Illinois land specialist with Whitetail Properties Real Estate, the parent company of Ranch & Farm Auctions, said the resulting sale far exceeded the owner’s expectations.
“By taking a combined approach and developing customized marketing programs, we were able to maximize the dollar return,” he said.
Crumrin noted that a traditional listing would have required more time than an auction in order to set up trail cameras and conduct multiple property showings to potential buyers.
“Selling the entire property by auction would have required less work for us, but that would not have given the seller top dollar,” he said.
The three farm tracts, totaling almost 179 acres used for planting of corn, soybean and wheat, sold at prices ranging from $8,000 to $11,250 an acre. The two recreational parcels, totaling about 150 acres, netted sales prices of $4,500 and $4,300 an acre.
For additional information on buying or selling farmland and recreational properties, visit www.whitetailproperties.com or www.ranchandfarmauctions.com.