Saturday, November 19, 2011

Funderburg family's Boone County farmland auction nets $24.6M

Athans, sitting up front right next to the auctioneer, was aggressive from the start and ended up winning 2,403 acres for a purchase price of $18.5 million. In all, 12 people or farm businesses won parcels for a total price of $24.6 million.

It’s highly likely that today was the biggest farmland sale in local history, easily surpassing the $17 million paid by Union Pacific to four Ogle County farming families for 1,175 acres near Rochelle in 2001. The railroad needed that land to build the Global III intermodal facility.

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