Section Six north of Minonk has been put up for sale at auction on August 31. The land was sold through sealed bids by the City of Minonk in February 2010. The winning bid was by H & H Farms of Plano for $2,826,100, or $5002 per acre for the 565 acre plot With the increase in farmland prices this past year it seems likely that the owner is flipping the land to make a profit as recent land purchases in the area have been as high as $8000 an acre.
The land is zoned commercial and is being offered in 8 tracts from 6 to 114 acres in size which makes it possible that potential buyers could include commercial developers or businesses, and not just farmers. However, Minonk Mayor Bill Koos said the City is monitoring the legality of the sale with respect to zoning and development requirements of the City. Koos noted that the seller made no mention of the fact that the land is within the city limits of Minonk and is also included in a TIF district.
For more information on the auction, click on the following link. http://www.landsofillinois.com/illinois/?detail=&inv_id=1003534