Southeast Missouri Business NEWS & VIEWS...
1,380 ACRES AUCTIONED
NEAR SCOTT CITY...
Acreage Parcels in Scott County
November 8th, 2000 saw one of the largest tracts of property auctioned in the Cape Girardeau area in recent years. Mississippi Lime Company commissioned Farmers National Company to offer their entire North Scott County land holdings amounting to 1,380 acres of property.
The Omaha, Nebraska auction company divided the acreage into 12 separate tracts consisting of a combination of woodlands, row crop property, potential development parcels and a significant amount of Mississippi River frontage sites. Most of the property was located along either State Route N or Roth Road, approximately 2 miles from the Scott City city limits.
Auction day was held at the Holiday Inn Convention Center in Cape Girardeau with a large crowd of both bidders and observers. The 12 land parcels ranged in size from 13 to 442 acres was offered in any combination or as a total unit with the final sale price subject to the approval of the seller, Mississippi Lime Company.
The total bid price for all tracts calculated to just over $1.5 million or an average of $1,113 per acre. The largest combination of property purchased was 610 acres for $570,000 which amounted to just over $900 per acre.
Bidders and buyers ranged from adjoining property owners of the various tracts to land speculators and investors. The sellers required a 10% earnest money deposit on the day of the sale and closing of all transactions are planned by December 22, 2000.
To Contact Tom Kelsey: tom@tomkelsey.com
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