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N Dakota, S Dakota | So the Diamond Ring Farm in S Dakota is listed for sale again at $42 million.
35,178 total acres, 31,116 tillable near Philip, SD with a private elevator on a rail spur in Midland, SD.
A newer house and 100' x 600' shop are the only buildings.
The listing says 'all mineral rights believed intact'. That's pretty unusual, must add some value.
What would the whole thing bring at unreserved auction??
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39.48, -82.98 | I get the impression...about half what they are asking. |
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Central ND | There is another thread a ways down the page, maybe a few of us can partner up? |
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N Dakota, S Dakota | My apologies, JD4030, didn't mean to hijack your thread, saw it later on.
Just thinking the listing price is way high, wondering what it would bring at auction. |
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Central ND | No apologies needed, that's why I posted it too, dad sent me the pic and thought the same as you that it's too high |
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S.W. Minn. | Aren't land prices always to high? |
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SW Iowa | What happened to all the bins and grain handling equipment?
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Central South Dakota | None of the locals will take it, so what does that tell a person. It also wasn't farmed for a year and basically grew up into weeds until the county forced them to spray it, so it's a real mess IMHO. Personally, I wouldn't touch it if it was offered to me for $25/acre.
The problem with the Diamond Ring is that guys out east that keep buying it and going broke doing it get all glossy eyed at the thought of being a "big wheel" and farming 30,000 acres in one chunk, but there is a lot more to it than that. MHO is the cycle of people going broke farming it will continue if anyone was stupid enough to pay that much for it.
The old Haskin's place that RDO bought was breaking them also. It was rented out by RDO this last year in smaller chunks and then it sold to some investors from out east that are going to try growing organic peas and wheat I'm told. Something tells me that place will be screwed up shortly too. At least when Leon and Rex owned it, it was a shining example of the right and proper way to farm big on the fringe. |
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Eastern Half of Kansas | It would appear some bins have disappeared if your photo is older than present google map.
Edited by Big Square 11/4/2017 19:44
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Indiana | Never heard of this farm and must admit I’m curious. Can you provide a little backstory on this farm if you don’t mind?
What exactly are they trying to do? Why isn’t it working? Why did they think it would work in the first place?
Thanks
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NE SD | wind, age, size
the small ones were not in great shape, use and time they were shot, think wind get some of them too
June 2015 the bin bins were damaged and I believe the rest of the small ones were removed
IIRC two big bins were replaced and others were repaired |
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| What would yield expectations be in that area? True 10 year average, if not mind my asking. TIA |
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NE SD | It has a long and colorful past
Google search will get you a vast variety of articles
Diamond Ring Farm Midland SD
Wilbert Ohlmann
Ohlmann's Diamond Ring Farm is ranked 14th on EWGS subsidy list for South Dakota and hasn't received a payment since 2005
they were #1 for many years
the current owners a group of "investors" and their "best" tenant have had a colorful relationship
Diamond Ring Dowling Bros.
one of the schemes involved renewing the lease with the tenant, while negotiating the owners leased to a third party that planted the crop
then the first tenant made legal maneuvers and got his right to lease it and took the crop and crop insurance from what the third party had planted
then the owners had to reimburse the third party for planting AND didn't get rent
It is an example of Government programs and abuse of them
Very poor ground best suited for grazing , bought up broke up and farmed with the best government programs and the abuse of them IMO
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NE SD | true ? unknown
average ? 0-60 bu wheat
30ish for ten year on THAT farm
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SC KS | busyretired - 11/4/2017 16:36
So the Diamond Ring Farm in S Dakota is listed for sale again at $42 million.
35,178 total acres, 31,116 tillable near Philip, SD with a private elevator on a rail spur in Midland, SD.
A newer house and 100' x 600' shop are the only buildings.
The listing says 'all mineral rights believed intact'. That's pretty unusual, must add some value.
What would the whole thing bring at unreserved auction??
I'm no expert but I would say $20 million |
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Diamond Ring Farm - what is today's auction price?
