Chapman's McLean Ranch auctioned off for over $16 million dollar - KSWO 7News | Breaking News, Weather and Sports

Chapman's McLean Ranch auctioned off for over $16 million dollars

Thousands of acres in both Gray and Wheeler county were sold at an auction, as Amarillo Developer George Chapman looks to settle his debts.

16,000 acres were split into 43 tracts ranging in size from 40 to 800 acres. After more than four hours of bidding from over 100 participants, final bids were accepted. Chapman's ranch was sold to 19 bidders for a total of $16,797,000.

Spanky Assiter, owner of Assiter Auctioneers says Chapman is pleased with the turn out from the auction. "Some bidders bought multiple sections. Others bought small tracts. I think everybody is happy. The bidders are happy, the bankers are happy, Mr. Chapman is happy. It's just a great day for everybody involved," Assiter told us.

Chapman is the former owner of the Country Barn Steak House which is also said to be up for auction later this month.

Colleen Nelson - NewsChannel 10.

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