This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

16,000-acre McLean Ranch Set For September Auction

AMARILLO, Texas, 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 Amarillo-based 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 McLean.

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 Gray and 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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs