EUREKA, Kan. (AP) — Auctioneers say a 9,100-acre ranch in south-central Kansas has been sold to seven buyers for a total of $13.5 million.
The ranch in Greenwood County was owned by the Frank N. Bills Living Trust. The trust decided to sale the ranch after Bills died in January at the age of 70.
The Wichita Eagle reports (http://bit.ly/14u3BWO ) the ranch was broken into 16 tracts and sold to seven buyers from Texas, Nebraska and Kansas. The average price was $1,475 per acre.
Auctioneer Jeremy Sundgren of El Dorado says it was one of the largest ranches ever auctioned in south-central Kansas.
He says the buyers were all owner-operators, rather than investors. Bidders came from seven states.
Sundgren said Bills was a hard-working man who assembled the land himself over many decades.
Information from: The Wichita (Kan.) Eagle, http://www.kansas.com