VeraSun to auction farm land

By Kris Bevill | July 08, 2009
Report posted Aug. 7, 2009, at 12:57 p.m. CST

As part of VeraSun Energy Corp.'s efforts to maximize return for its creditors in relation to the company's Chapter 11 bankruptcy filing earlier this year, the company plans to auction 1,600 acres of property located in Illinois on Sept. 10.

The land to be sold was acquired by VeraSun over several years and was to be developed in support of its ethanol business. A spokesman for Schrader Auction, the company in charge of the auction, said most of the acreage is highly productive, tillable farmland. However, "we anticipate some interest for other purposes, especially for tracts near existing commercial, industrial and residential development," he said. "We believe the accessibility to rail and roads will also be a factor in broadening the potential uses."

Of the land to be sold, 487 acres is located near Litchfield, Ill. in Montgomery County; 380 acres is located near Granite City, Ill., in Madison County; and 733 acres is located near Danville, Ill. in Vermilion County. For more information, contact Schrader Auction.