Prime 130 ± Acre Farmstead in Wayne County

50/50

Classic Farmhouse, Barns, Grain Storage, Tillable Crop Acres, and Timber

Located just off State Road 1 between Connersville and Milton, this 129.5 ± acre farm offers an exceptional combination of productive acreage, well-maintained outbuildings, and a classic early-1900s farmhouse. With approximately 108 acres of tillable ground, 18 acres of timber, and roughly 5 acres dedicated to the homestead, barns, and grain storage, the property provides both strong income potential and long-term versatility. The farm currently generates $230 per acre, producing about $24,000 in annual revenue, and will be offered with an open lease for the 2026 season.
The farmhouse is clean and solid, offering 2,756 square feet with four bedrooms, two bathrooms, and a partial basement. While it maintains the charm of its early 20th-century construction, it is ready for updating to suit the next owner’s preferences. An attached two-car garage provides convenience, while the surrounding set of outbuildings significantly expands the property’s utility.
The outbuildings include a 24×26 one-and-a-half-car garage, a 50×54 steel-framed insulated barn with concrete floors, a 54×72 barn with a dirt floor and insulated concrete footers, and a 30×50 shop with concrete floors previously used for mechanical and body-work purposes. There is also a 25×28 fertilizer barn with a combination of dirt and concrete flooring. All barns are equipped with single-phase electricity, and the property includes two grain silos to support ongoing farm operations.
This farm offers flexibility for buyers, as the sellers are willing to parcel the holdings and sell the homestead and barns separately from the acreage, or sell off larger sections of ground separate from the farm. With its convenient location, strong agricultural production, and valuable improvements, it serves as an excellent opportunity for investors, anyone pursuing a potential 1031 exchange, first-time farmers, homesteaders, or established operators looking to expand.

• 129.5 ± taxable acres
• 108± acres tillable — strong income-producing ground
• 18± acres of timber — potential for recreation or long-term value
• 5± acres in homestead and outbuildings
• Two grain silos for on-site grain storage

• Currently generating $230/acre (~$24,000 annual farm income)
• Open farm lease for 2026 season
• Convenient location just off State Road 1 between Connersville and Milton
• Option to parcel — homestead & barns, or larger acreage tracts, can be sold separately

• 11796 W Chapel Rd, Milton IN 47357
  • 89-12-17-000-204.000-026
    • Pt N 1/2 Ne Sec 17 15 13 77.00 A
    • 2024 PAY 2025 TAXES: $5355.10
  • 89-12-17-000-103.000-026
    • E S NW SEC 17-15-13 52.50A
    • 2024 PAY 2025 TAXES: $1645.58

From Cambridge City, Indiana: Head east on US-40. In approximately 3.4 miles (from Cambridge City Square), turn right (south) onto Pennville Road. Follow for 4.3 miles. Turn left (east) onto Chapel Road. The farm will be on your left (north) side in a half mile. Look for signs. Showings by appointment only. 11796 W Chapel Road, Milton IN 47357