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June 28, 2013 /PRNewswire/ -- Amarillo developer
George Chapman's 16,000-acre
McLean Ranch will be sold at auction after all, with a heavily promoted event aimed at farmers, land investors and others not only in
North Texas but throughout the Southwest and beyond.
"The agreement reached with Mr. Chapman on the ranch opened the door to do this right, and I'm optimistic that an aggressive marketing campaign will better enable us to communicate the value of this land," said
Spanky Assiter, chairman and founder of
Assiter Auctioneers, which is marketing the land and will conduct the auction.
The auction itself will be held at
10 a.m. Thursday, Sept. 12, at the McLean Cowboy Church, in
The ranch, widely known for its game and fishing, includes areas with mature trees, pasture land and irrigated tillable land, which will be offered in approximately 50 tracts ranging from approximately 40 to 1,280 acres. It has more than five miles of creeks and six lakes, one of which is more than 50 acres.
"You're basically talking about 25 square miles of
Texas, spread over
Wheeler counties, so there's a good bit of variety, and different parts of the land might well appeal to different types of buyers. It's probably best known for its grazing land, but it also includes irrigated cropland, recreational land, cattle facilities and waterfront land," said Assiter.
Bidders will be able to bid on individual tracts, groups or the entire ranch.
"There's just no telling which way this will go. Somebody interested in growing wheat may have little interest in the lake or hunting properties, so we'll let people bid on just the parts that appeal to them. This opens up the bidding to a much wider number of prospective buyers, and that generally ensures a fair market price," said Assiter.