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Tractor Talk Discussion Forum

OT...Advice on Grain Bin Sale or Rent

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MCL

05-18-2006 19:03:07




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We are trying to buy a property that has two grain bins on it that I will not need. I am guessing they are about 5000 bu each. They both have perforated floors. One has a dryer and the other just an aeration fan. They both have gearbox drive sweep augers. The one with the dryer has a stir-all in it. There is a roof auger running from one to the other. They both have their own pull out augers. I have no idea what if anything works. I had an offer to rent them (if I get them) for 10 cents/bushel. I live in central IN. Is this about right? Who should handle the cost of any repairs like replacing a bad motor? One or two of those big motors and goodbye to any profit. What would something like this be worth to sell? I would appreciate any input I can get. Thanks.

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Joe-Bob/IN

05-19-2006 16:53:36




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 Re: OT...Advice on Grain Bin Sale or Rent in reply to MCL, 05-18-2006 19:03:07  
We are in Northern IN and paid 10 cents for a 17,000 bushel bin last year. In fact I just cleaned it out two days ago. Most commonly the owner pays for the electric and upkeep but if the user burns gas to dry the user pays for the gas. Yeah those 3 and 5 horse motors cost about $600-$800 smackers. You could sell them but if buyer has to tear them down they aren't worth much. Maybe $500-$1000. The two local dealers here get paid to take bins like that off old farms and get to keep the bin. Where exactly are they located, we may want to buy them if you don't rent them out, which would be my suggestion honestly.

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MCL

05-23-2006 17:03:17




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 Re: OT...Advice on Grain Bin Sale or Rent in reply to Joe-Bob/IN, 05-19-2006 16:53:36  
I am near Frankfort IN.



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RickL

05-19-2006 05:05:40




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 Re: OT...Advice on Grain Bin Sale or Rent in reply to MCL, 05-18-2006 19:03:07  
I get 18cents bushel for my dryer/bin setup. they pay electric and LP. I do maintain fixed items. Those are bothe sellable products also.Been getting anywhere from 700 to 1500.00 per bin for those types. If yours are as nice as say and are 5000 bushel then they would be in 7 800 dollar range apiece with floors no floor cheaper. I have people wanting bins if that would help. Go for it on the rent but due puit it in writing.

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slacker

05-18-2006 20:53:18




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 Re: OT...Advice on Grain Bin Sale or Rent in reply to MCL, 05-18-2006 19:03:07  
I have two bins that I rent out. They are 30,000 Bu each, I get ten cents a bu, I pay the electric and any repairs, but then again my bins are larger than yours. Trying to sell a small bin is a challenge but you just never know. might get a thousand dollars for both if they remove them. Just my two cents



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MichaelNEIowa

05-18-2006 20:44:07




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 Re: OT...Advice on Grain Bin Sale or Rent in reply to MCL, 05-18-2006 19:03:07  
10 cents/bu is about right.

These resources might help:

Computing a grain storage rental rate:
Link

Renting Grain Storage Facilities: Link



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