From New Mexico to the Midwest: What Three Land Sales in 2025 Show Us about the Unique Business of U.S. Farming

American Farmland Owner writes about some of the farmland and ranch sales that happen all over the country. From 500,000-acre cattle ranches to much smaller family farms entering the market for the first time in 150 years, we are often intrigued by the stories behind the land as it changes hands.    

Here are three of them we chose to highlight from the past year, including some of the features that make them unique: 

Great Western Ranch. Photo courtesy: Hall and Hall.

One of the Biggest

The Great Western Ranch, one of the largest single landholdings in the United States, sold to new owners in July. Located on the western edge of New Mexico, the ranch spans 504,801 acres. That is about 790 square miles or roughly three-quarters the size of Rhode Island.

Stretching 70 miles east to west and 29 miles north to south, the property was previously owned by the family behind D.R. Horton, a major homebuilding company based in Texas. It was originally listed for $115 million, though the final sale price and identity of the buyer have not been disclosed.

RELATED: Read more about the New Mexico property’s history and the owner who grew the operation to one of the biggest in the country. 

The ranch is widely regarded as a rare and highly valuable property due to its size, location, and long history of careful management. Situated in one of the most productive regions for livestock grazing and big game in the western U.S., it supports wildlife such as bull elk, mule deer, and antelope. The land generates income through large-scale livestock operations and a high-end guided hunting lease with Black Mountain Outfitters. 

Land experts describe the Great Western Ranch as a “legacy ranch,” meaning it holds historical, cultural, and regional significance that cannot be replicated. In addition to extensive water systems, fencing, and infrastructure, the property contains archaeological sites dating back to the Anasazi period, adding to its unique and irreplaceable value.

Indiana Farm’s Unique Irrigation System

A 150-year-old farm in west-central Indiana recently drew attention when it went up for auction in September, not only for its long family ownership but for its innovative water management system. The 1,420-acre property, held by the same family since shortly after the Civil War, sold for $20.82 million. 

Long-time realtor Gene Klingaman noted that the farm stood out because it featured a subsurface irrigation system—something he had never encountered in a sale before.

RELATED: Hedge fund guru J. Kyle Bass follows developments across the globe. He stressed to American Farmland Owner the importance of conservation practices in farming and investment portfolios. 

Ed Britton, one of the family members selling the land, explained that the system was installed as part of the family’s deep commitment to land stewardship rooted in Christian values. It sits alongside traditional drainage and irrigation and works by capturing rainwater in the soil, storing it, and redistributing it underground during dry periods. This approach conserves water, reduces nutrient runoff, and improves soil moisture without relying solely on above-ground irrigation.

Controlled drainage is being studied and promoted by universities such as Ohio State and North Carolina State for its environmental and productivity benefits. Research shows it can increase corn and soybean yields by an average of 10% and up to 20% in dry years.

Compared to traditional irrigation, it minimizes evaporation and keeps nutrients like nitrogen in the soil. Installation costs vary but are generally considered a worthwhile long-term investment in sustainable farming.

Nebraska Farm’s Unexpected New Life

A 220-acre property in northeast Nebraska sold at the beginning of 2025 for $1.81 million after being marketed as a secluded “hunter’s dream,” featuring a cabin, rolling hills, native grasses, and strong pheasant populations.

Located near Norfolk and within 80 miles of Omaha, the land quickly received a full-price offer. While realtors expected a quick sale, longtime realtor Randy Oertwich was surprised by the buyer’s plans for the property. A local farmer purchased the property with the intention of converting it from recreational grassland into a traditional row crop farm.

RELATED: Why a massive Oklahoma property may transition from cattle operation to gaming property under new ownership.  

To make this happen, the new owner removed the land from the Conservation Reserve Program (CRP), where it had been enrolled for 20 years. The previous CRP contract paid $238 per acre annually to keep the land out of production and protect it from erosion.

Oertwich believes the decision highlights a broader issue: CRP rental rates may be too low to compete with potential crop income, even at a time when commodity prices are historically low.

CRP rental rates vary by location and land type, with cropland generally paying more than grassland. While experts acknowledge the program’s benefits for soil health and wildlife, they have seen enrollment in Nebraska decline significantly from its peak in the 1990s.

The sale highlights the challenges in balancing conservation incentives with landowners’ needs to make money off the land.