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Morgan County saw a new high price of $16,900 an acre paid for quality farmland September 30. The auction, conducted by Worrell Land Services, LLC, Jacksonville, and called by Darrell Moore, Winchester, featured 116.39 acres of entirely tillable Class A (142.6 PI) farmland located near Franklin in Morgan County. In addition to crop production income, the farm is also part of the “rent pool” for the newly developing APEX Wind Energy project, with future income generation from underground cabling.
The September 30, 2021 record-breaking price tops the previously-held record from 2013 when a Worrell Land Services (then named Worrell-Leka Land Services) Morgan County land auction brought $16,000 per acre.
Said Luke Worrell, Managing Broker and the Seller’s Designated Representative for today’s sale, “The results from this morning’s auction confirm we are indeed in uncharted territory in regards to land values. There is a lot of demand and Class A acreage is selling at record levels. I believe we are in for a very active and strong land market throughout the remainder of 2021 and beyond.”
He added, “It was an honor to work with and for the Hinderliter family on this transaction. Hobie [Hinderliter] was a vital part of our community and it was a true honor to represent land that he had owned.”