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SOLD

1,739+/- Acres Offered in 24 Tracts, Major Land Auction

Lake County, Indiana, Lowell, Crown Point & St. John Indiana Areas

Owner: Trust#s 2106, 1500, 8173, 7973, 7273, 5191, 91981, 11474 & 6870 Tue, Nov 12, 2013

SOLD FOR $10,240,000

• 1,739+/- Acres Offered in 24 Tracts • Major Land Auction • Productive Tillable Land • Development Land • Woods • Hunting & Recreational Land • Potential Building SItes • 4 Homes with Acreage from 3.6+/- to 88.7+/- Acres • 24 Total Tracts Ranging from 3.6+/- Acres to 172.7 +/- Acres • Closest Property just 36 miles Southeast of Chicago

ONLINE BIDDING AVAILABLEYou may bid online during the auction at www.schraderauction.com. You must register by October 28th to bid online. For information on registering for online bidding, call Kevin Jordan at Schrader Auction Company - 800-451-2709.


OPEN HOUSE/INSPECTION DATES

Saturday, October 5, 9-11AM Central
Wednesday, October 9, 3-5PM Central
Thursday, October 17, 3-5PM Central


Inspection Headquarters: Range Line Community Presbyterian Church Hall, 18095 Clay St. Hebron, IN 46341. From Interstate 65, travel east on St. Rd. 2 for about 1-1/4 mile, turn north (left) on Clay St. Immediately the church will be on your right.

PROPERTY LOCATION

PROPERTY DIRECTIONS:
Unit A - Tracts 1-7: From the I-65 & SR 2 interchange, exit 240, east of Lowell, travel 1-1/4 miles east on SR 2 to Clay Street, turn north (left) on Clay Street and go 2 miles to E. 165th Ave. Turn east (right) on E. 165th Ave. and travel approx. 1/4 mile to property on south side of road.

Unit B - Tracts 8-13: From the north junction of US 41 with SR 2, west of Lowell, travel 1/2 mile south on US 41 to W. 185th Ave. Turn west (right) on W. 185th Ave. and go approx. 1.8 miles to Calumet Ave. Turn south (left) on Calumet Ave. and go approx. 3/4 mile to property on east side of road. Property on the west side of Calumet Ave. begins in approx. 1/8 mile further south.

Unit C - Tracts 14-23: From the I-65 & US 231 interchange, exit 247, east of Crown Point, travel 3-1/2 miles southeast on US 231 to the town of Leroy and turn north (left) on Elkhart Street. Then take a near immediate turn east (right) on E. 141st Ave. and go 2/10 mile to Gibson Street. Turn north (left) on Gibson and go 1 mile to property on west side of road.

Unit D - Tract 24: In St. John at the intersection of US 41 (Wicker Ave.) and W. 93rd Ave., (Walgreens on northwest corner) go west on W. 93rd Ave. approx. 100 feet to Patterson Street, turn north (right) on Patterson Street and travel northwesterly for approx. 1-2/10 miles to W. 85th Ave. Turn west (left) and go approx. 8/10 mile on W. 85th Ave. to Magnolia Street. Turn north (right) on Magnolia Street and go 2/10 mile to W. 83rd Place. Turn west (left) and travel on W. 83rd Place (turns into Limerick Dr.) a short distance to property on both sides of Limerick Drive OR to the south end of Tract 24; from the intersection of US 41 (Wicker Ave.) and W. 93rd Ave. travel west on W. 93rd Ave. for approx. 2 miles to Calumet Ave. Turn north (right) on Calumet Ave. and go approx. 1/2 mile to the property.

AUCTION LOCATION

Saint Elijah Serbian American Hall
8700 Taft Street, Merrillville, IN 46410

From I-65 and U.S. 30 interchange travel west on U.S. 30 approx. 2 miles to Taft St. (St. Rd. 55). South (left) on Taft St. approx. 8/10 mile to auction site on right.

PROPERTY DESCRIPTION

UNIT A - TRACTS 1 - 7
UNIT B - TRACTS 8 - 13
UNIT C - TRACTS 14 - 23
UNIT D - TRACT 24

TRACT DESCRIPTIONS

Tract 1: 80± ac of very productive farmland. 73.5+/- acres tillable and approximately 3 wooded acres. Road frontage on E. 165th Ave. and Grand Blvd.

Tract 2: 118± ac of productive farmland. 114.8+/- acres tillable in one large field. Road frontage on E. 165th Ave. and Grand Blvd.

Tract 3: 120± ac of productive farmland. 110.5+/- acres tillable. Road frontage on E. 165th Ave.

Tract 4: 160± ac of quality farmland. 159.6+/- acres tillable in 3 fields which could be farmed in 1 large field with the clearing of only 2 interior tree lined fencerows. E. 173rd Ave. frontage.

Tract 5: 21± ac Investigate the building site possibilities! Road frontage on E. 173rd Ave. and Grand Blvd. 9.9+/- tillable acres, grass land used for hay and trees. Two old electric lines are on this tract along with remnants of an old building which was burned.

Tract 6: 37± ac This tract offers 15.8+/- tillable acres, woods and a pond. Explore the recreation/hunting and building site potential. Road frontage on Grand Blvd. An electric line stops near the south end of this tract on Grand Blvd. Also, take a look at the walnut trees on the west side of this tract.

Tract 7: 24± ac 14.7+/- acres tillable and do not miss looking at the nice stand of walnut trees in the northwest corner and west side. Investigate the hunting/recreation and income potential of this tract with trees and woods along its exterior. If tract 7 is purchased separately, tree clearing and possibly a small ditch crossing along Grand Blvd is needed to access the property by vehicle. Any tree clearing and ditch crossing, along with any needed approvals, will be the responsibility of the buyer.

NOTE: If you are interested in the R-1 zoning(one-family zone) on UNIT A, contact the auction manager for more information.

Tract 8: 40± ac of quality farmland. Mostly tillable and efficiently farmed in one field. Calumet Ave. road frontage.

Tract 9: 66± ac of productive farmland. Mostly tillable with waterways on the east side of the property. Road frontage on Calumet Ave. Consider combining with tracts 8 and 10 for a nice larger unit on the east side of Calumet Ave.

Tract 10: 35.7± ac Swing Tract - of productive farmland with waterways. This tract must be bid in combination with Tract 9 or by an adjoining landowner.

Tract 11: 20± ac tract of land with 14.4+/- acres of tillable land, and woods. Homesite and frontage on Calumet Avenue. This tract also has an older 2 story 2,048 sq. ft. farm house (needs TLC and in need of repair). Potential to remodel the house or a beautiful building site. Also, there is an old barn and silo on this tract. Excellent location near the Indiana-Illinois State Line. Tri-Creek School Cooperation district.

Tract 12: 71.3± ac of mostly tillable productive farmland. Road frontage on Calumet Ave. Consider bidding in combination with Tract 13 for a 102.3+/- acre unit.

Tract 13: 31± ac Swing Tract - with 27.7+/- acres of productive tillable farmland. West Creek borders the west side. Consider the potential of the walnut trees in the southeast corner. The ditch crossing into this parcel from tract 12 appears to need improvement and possibly replacement. Any ditch crossing improvements, along with any needed approvals, will be the responsibility of the buyer. This tract must be bid in combination with Tract 12 or by an adjoining landowner.

Tract 14: 172.7± ac of mostly tillable productive farmland. Excellent location east of Crown Point with road frontage on Gibson St. and E. 129th Ave.

Tract 15: 54± ac Explore the recreational and hunting opportunities along with the income potential of this tract just east of Crown Point. There are two separate woods totaling approximately 20 acres, as well as tillable land. Road frontage on E. 129th Ave. (unimproved at this point).

Tract 16: 3.6± ac tract of land with a 2 bedroom home, 1 bath, small kitchen and living room. Also there is a 755 sq. ft. work shop with lights. 5017 E. 129th Ave. Crown Point, IN 46307.

Tract 17: 6.9± ac tract of land with some woods and open area. It has an older 2 story farm house in need of repair with approximately 2310+/- sq. ft. (per assessor property card). Also, there is a 2 car garage, (2) silos and a 30 ft. x 60 ft. tool shed with concrete floor, lights and is insulated. 4915 E. 129th Ave. Crown Point, IN 46307.

Tract 18: 92.3± ac Tillable land, marshland and small woods. Investigate the recreational potential of this tract along the Niles Ditch. Access is from E. 129th Ave. at the southeast part of this tract. E. 129th Ave. is unimproved at this point and for approximately 1/2 mile to the east. Within the town of Winfield. Contact auction manager for additional information regarding tillable acreage.

Tract 19: 88.7± ac of productive farmland. Mostly tillable and loads of road frontage. The property is improved with a 2 story older farm house with 1680+/- sq. ft. (per assessor property card), 4 bedrooms, 1 bath, small kitchen and living room. This tract has a 20 ft. x 45 ft. shop and horse barn with a 20 ft. x 32 ft. addition and the entire barn presently has (4) horse stalls. The wooded area north of the house offers a park like setting. There is also an old barn and silo. Frontage on Gibson St. and E. 129th Ave. Within the town of Winfield. 5006 E. 129th Ave. Crown Point, IN 46307.

Tract 20: 36.1± ac with 25+/- acres tillable. This tract offers very productive farmland and approximately 10 acres of woods along Gibson St. Investigate for a possible home site in the woods or the field to the north which offers great open views. Within town of Winfield.

Tract 21: 64± ac Explore the recreational and hunting opportunities of this mostly wooded (41+/- acres) property with tillable land for crops and/or food plots. Also, make sure to inspect the timber (oak and hickory). Access is from E. 129th Avenue on the south which is unimproved at this point. There is a 20 ft. wide strip from E. 121st Avenue to the main portion of this parcel. Improvements would need made to this 20 ft. strip for good access, such as a ditch crossing and possibly tree clearing. Any ditch crossing, needed approvals and any other needed improvements are the responsibility of the buyer. Within the town of Winfield.

Tract 22: 141.5± ac of productive farmland which is mostly tillable. Access from E. 129th Ave. (unimproved at this point). Within the town of Winfield. Contact auction manager for additional information regarding tillable acreage.

Tract 23: 106.1± ac Consider the possibilities. Potential beautiful wooded home site with tillable land for income and additional land for recreation. Frontage on E. 121st Ave. A ditch crossing will be needed to access the southern portion of the tract. Any ditch crossing and any needed approvals will be the responsibility of the buyer. Consider combining with Tract 22 and have access to the area south of the ditch without installing a ditch crossing. Within the town of Winfield. Contact auction manager for additional information regarding tillable acreage. Unit C is within the Crown Point Community School Corporation District.

Tract 24: 149.1± ac in St. John, Indiana near the Indiana-Illinois state line. R-2 zoning with a great location bordering quality residential subdivisions. This property offers a developer great natural settings for lots given its trees, sloping terrain and open land. Get a jump start on developing this property. Engineering plans for proposed Kilkenny Estates, Unit 4 are available. These plans call for 161 lots. Contact Auction Company for additional information. Roads stubbed to the property.

Note: We believe that Tracts 6, 7, 13, 21, 23 and 24 may have some timber value, therefore we will have a timber buyer cruise these woods and give us an estimate of timber value on each of the above tracts.


INTERACTIVE MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 24 individual tracts, any combination of tracts and as a total 1739+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete.

DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide a Trustees Deed(s).

PLANNING APPROVAL: Any development or construction on the property will require obtaining applicable local governmental approvals. Buyer assumes all responsibility and risk in connection with any applicable requirements to obtain any applicable governmental approvals.

CLOSING: The balance of the purchase price is due at closing, which will take place within 15 days after Sellers closing documents are prepared (estimated to be on or before December 12, 2013). Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession is at closing subject to tenants rights for the remainder of the 2013 crop year.

REAL ESTATE TAXES: Buyer shall assume the 2014 real estate taxes due in 2015. Seller shall pay the Clean Water Act Fee for 2013 due and payable in 2014 as well as the Little Cal River Basin Storm Water Assessment for the year 2013 due and payable in 2014. Buyer shall pay all other assessments or installments for assessments due after closing.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions, aerial photos, and/or Lake County GIS.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only. A new perimeter survey of Unit B will be completed prior to auction. That survey cost will be split 50:50 between Buyer and Seller. Surveyor will determine the cost to allocate to each tract (8-13). Any further survey needed for Unit B (Tracts 8-13) shall be determined solely by Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.

STOCK PHOTOGRAPHY: Wildlife photos are for illustrative purposes only and were not taken on the property.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENT MADE