Wife and I went to sale last night for entertainment. 400 acres 311 tillable. Wet farm, not good ground for the area, but decent sized chunk of tillable in 1 spot. Auction came down to two investors looking to eventually subdivide it off. Cousin of mine farmed it. Idk what the future of the rental situation is. This farm is right on the edge of subdivisions and commercial property.

I believe 40 of the 400 acres was already zoned commercial. Top quality farmland has sold in the $8-9000 range, and lesser quality in the $7-8000 range here. The land sold for $10,500 to one bidder #. I honestly felt like the buyer got a good deal. With some time and the right connections I feel he can get 50% increase in less then 5 years on some of it. The 40 acres zoned commercial should be worth $15-20,000 per acre IMO.

This was the largest parcel between the towns of Danville Indiana and Avon Indiana. Once u go east of Avon starts Indianapolis. I've included a map that shows each separate legal parcel bordering or neighboring the sold pieces last night to show the subdivisions and businesses parcels.

Between the field marked 22.04 acres and the field marked 21.37 acres is an Elementary School to give you an idea of the proximity to "town" 

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IMG_20151117_184724325.jpg (331KB - 92 downloads)