Osage Land Sale Nets Record Amount

Updated: 06/11/2014 9:57 AM
Created: 06/10/2014 10:14 PM
By: Justin Thompson-Gee

(ABC 6 News) --  It was standing room only at a land auction in Osage Tuesday when farms sold for millions.

Almost 400 acres from the Thorensen Farm on the west side of Osage went up for auction.

Auctioneers were expecting a sale of $4 million to $5.5 million but the total sale greatly exceeded expectations.

"With the number of acres if you do the math now we're talking 4, 5, 6 million, something like that," land owner Brian Thoresen said.

The land ended up selling for a total of just under $7.25 million with an average acreage price of $18,500, a record for Mitchell County.

Investors from Texas, Wisconsin and Florida were in attendance but most of the winning bids were local.