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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Repair Windows errors before they cause bigger problemsFix Now →A 229.95-acre farm in Grundy County, Iowa, sold for a combined $3,910,954 at public auction on March 20, 2024. The land was offered in three tracts, but one buyer acquired all three. The property had been in the same family since George Columbus Coates began farming it in 1873.
What each tract sold for
The reported winning bids totaled $3,910,954. The acreage, per-acre bid and tract totals were:
| Tract | Acreage | Winning bid per acre | Total bid | Reported CSR2 average |
|---|---|---|---|---|
| 1 | 77.48 | $18,550 | $1,437,254 | 96.1 |
| 2 | 74.66 | $17,500 | $1,306,550 | 96.7 |
| 3 | 77.81 | $15,000 | $1,167,150 | 92.7 |
| Total | 229.95 | — | $3,910,954 | 95.2 weighted average |
Successful Farming reported that bidding proceeded in three rounds for each tract, with the same buyer ultimately winning all three. The sale total divided by the reported acreage works out to about $17,009 per acre across the farm; the individual tract prices differed, so that blended figure should not be mistaken for a bid on any one tract.
Why the farm attracted attention
High reported CSR2 ratings
Successful Farming described the property as high-quality cropland and reported an overall weighted-average CSR2 rating of 95.2. More than 91 acres—about 40% of the farm—were rated 100. Iowa’s Corn Suitability Rating 2 index runs from 5 to 100; the reported tract averages were 96.1, 96.7 and 92.7.
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Yield figures reported by the auction website
As relayed by Successful Farming from the auction website, Tracts 1 and 2 had reported yields of 240 bushels of corn or 69.6 bushels of soybeans per acre. Tract 3 was listed at 232 bushels of corn or 67.3 bushels of soybeans per acre. These are reported figures, not independently verified yield-test results.
How the result compared with 2023 land-value estimates
Successful Farming compared the auction with the 2023 Iowa State University Land Value Survey. Those survey estimates were $11,835 per acre statewide, $14,231 per acre for Grundy County, and $15,531 per acre for estimated high-quality land in Grundy County.
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The auction’s blended result of about $17,009 per acre was above each of those 2023 estimates. That is a comparison between one 2024 auction and survey estimates from 2023, not a like-for-like appraisal or a measure of current 2026 farmland values. The article also reported CSR2 averages of 68.4 statewide, 86.9 in Grundy County and 91.4 in O’Brien County, attributing those figures to Iowa State University.
Auctioneer Jason Smith said the outcome was around his team’s expectation. Iowa State University Extension economist Rabail Chandio said the sale did not indicate unusual demand and was broadly in line with the region. Her comments in the 2024 report connected land values with lower expected farm incomes and high interest rates, while noting that changes in rates can take time to affect land values; they should be read as observations from that period, not a forecast for today’s market.
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A farm with a long family and tenant history
Ownership dating to 1873
George Columbus Coates began farming the property in 1873. According to the report, he raised livestock and operated a business buying and shipping livestock and corn to Chicago. After his death, the property passed to his daughter Florence and her descendants. Porter family members held it in trust while living in California; a trust provision reportedly prevented a sale until 1960, but the family retained ownership until the 2024 auction.
Newspaper clippings described in the article recorded three offers Coates declined: $160 per acre in 1908, $250 in 1913 and $500 in 1920. The report said Iowa’s average land value was below $100 per acre in 1908, $130 in 1913 and $255 in 1920. Those are historical figures as presented in the 2024 article, rather than independently checked archival records.
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The Kock family’s tenancy
The Kock family moved onto the farm in 1929. Tenant farmer Paul Kock told the auction crowd his family had farmed it for about 94 years, calling it “some of the best ground in the world” and praising its fertility. The family home, yard and surrounding buildings were excluded from the land auction. Kock’s daughter was purchasing the residence, which would make her the fourth generation of the family to live there.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What this auction does—and does not—say about farmland prices
The $3.91 million result documents the price paid for this particular Grundy County property in March 2024. Its reported acreage, strong CSR2 ratings and individual tract bids help explain why it attracted attention, but the sale is not a current statewide benchmark. The 2023 survey figures are historical estimates, and the commentary accompanying the auction described the result as broadly normal for the region rather than evidence of extraordinary demand.
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Successful Farming also mentioned a $30,000-per-acre Iowa sale in November 2022 and two Sioux County sales at $29,600 per acre in February 2024. Those are historical examples cited by the article, not claims about current records.
Read Lisa Foust Prater’s Successful Farming report, updated March 26, 2024.
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