AUCTION IS OVER

• THE REAL ESTATE AUCTION HAS BEEN CANCELED!! Personal Property Auction is still scheduled for MAY 23rd! PREMIERE NORTHEAST INDIANA FARM • REAL ESTATE & PERSONAL PROPERTY AUCTION • Real Estate to be auctioned on May 20 @ 6PM • 140 Acres offered in 8 Tracts or Combinations • 2 Custom Built Homes • 6 Acre Lake • Awesome Outbuildings • Productive Tillable Soils • Great Hunting Woods • Scenic Building Sites • Online Bidding Available • Personal Property to be Auctioned on May 23 @ 9 AM • Vehicles & Equipment, Implements • Lawn & Garden • Outdoor Items • Shop Equipment, Tools • Firearms, Miscellaneous

OPEN HOUSE/INSPECTION DATES

To Preview Real Estate
SUNDAY, APRIL 26 from 2-4PM
MONDAY, MAY 11 from 5-7PM
or Call Office for Private Showing!

PROPERTY LOCATION

Steuben County, Clear Lake Township, Section 31 - 7885 E. 500 N., Fremont, IN.
Located just One Half Mile South of 120. Take 120 East out of Fremont to 850 E and turn South to E. 500 N.

AUCTION LOCATION

PEACE LUTHERAN CHURCH (355 E. State Rd., 120, Fremont, IN)

TRACT DESCRIPTIONS

Tract 1: 20± ac WITH LAKE ACCESS & WOODS. This tract has it all! It includes part of the lake, an awesome potential building site, and approximately 10 acres of great hunting woods. There is a 50 foot access off of E. 500 N. and runs back nearly a half mile deep. There is an open stream that borders along the woods part and a mowed path through the entire length of the woods.

Tract 2: 12.5± ac 2 CUSTOM BUILT HOMES, BUILDINGS, PART OF LAKE, ON 12.5 SCENIC ACRES! This tract includes part of the 6+/- acre lake. CUSTOM BUILT BY THE OWNER, The main house is situated on a large lawn with an absolutely beautiful view of the entire farm. It boasts over 3100 square feet of finished living area! It has 4 bedrooms, 3 baths, 2 kitchens, and 2 utility rooms. The main level is elevated and includes a bright open kitchen with views out the back of the farm. Step into the living room from the kitchen and enjoy plenty of open entertainment area. The spacious master bedroom with master bath and closets is also on the main level. The first of two utility rooms is situated off of the 2-1/2 car garage. There is a spectacular full length covered deck (56 feet) off of the back of the elevated main level that offers the most beautiful views of the farm. The lower level features another full kitchen, 2 bedrooms, full bath, a fantastic pantry room, and the second utility room. This level has a finished entertaining area with a gorgeous field stone woodburning fireplace. There is a walk-out onto the large covered patio area. The home has two 200 amp electrical panels, and is heated with a Lennox gas forced air furnace. Extra wide sidewalks and hundreds of plantings highlight the awesome landscape of this home. The second home was also custom built by the owner and features 3 bedrooms and 1-1/2 baths. It has a beautiful kitchen / living room area with a woodburning fireplace. There is a covered porch and two car garage. Great additional family member home, in-law home, rental potential!

OUTBUILDINGS: The metal building features 60 ft. x 34 ft. area with concrete floor and 3 ft. poured walls. There is a 14 ft. x 12 ft. overhead door with an 18 ft. outside concrete pad. Large overhead vapor lighting inside. There is a 32 ft. x 40 ft. enclosed area at the opposite end of barn with dirt floor, and 8 ft. poured walls. There is an 18 ft. opening with double slider doors. The large shop and storage barn is a total length of 320 feet. The shop area is 40 x 44 with woodburning furnace. There is tons of lighting and all concrete floor. There is a 9 ft. H x 20 ft. W overhead door. The ceilings are 10 ft. plus. There is an additional 15 ft. x 18 ft. heated room plus a 15 x 20 break area room with 1/2 bath. The remaining part of the building is 282 ft. x 40 ft. with dirt tiled floor and lighting the entire length. There is an overhead door into the shop area and an overhead door at the end. Huge storage above the building in a walk-up attic area.
**COMBINE TRACTS 1 AND 2 FOR AN ABSOLUTE ONE OF A KIND 31 ACRE ESTATE!

Tract 3: 40± ac Mostly all tillable acreage, this tract features the combination of the productive Rensselaer loams and drained Houghton muck soils. There is a few acres of the woods on the east edge. The entire west property line is the open drain. There is 50+ feet of access off of E. 500 N.
**COMBINE TRACTS 1, 2, AND 3 FOR AN AWESOME 73 ACRE FARM!

Tract 4: 13± ac OF ALL WOODS. This tract has a 50 ft. easement access from E. 450 N. This tract offers a very private potential building site, or a perfect private hunting & recreation site!

Tract 5: 15.5± ac OF MOSTLY TILLABLE PLUS SOME WOODED ACRES. This tract again, offers lots of opportunities. The combination of Rensselaer loam and drained Houghton muck soils for farming. Also, a gorgeous, very private potential building site set back off of the road with woods backdrop.

Tract 6: 13± ac OF WOODS. This tract offers great hunting with 50 ft. access easement off of E 450 N. Also, another potential building site in the woods with mowed paths for recreation.

Tract 7: 8± ac MOSTLY TILLABLE ACRES. This tract has 250+ feet of owned access off of E. 450 N. It runs over 900 feet deep.

Tract 8: 18± ac OF MOSTLY TILLABLE ACRES. This tract has nearly 600 feet of road frontage along E. 450 N. It is a combination of mostly Rensselaer loam and Glynwood silt loam. Good productive soils for farming or possible small estate site!

AREA MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 8 tracts, any combination of tracts, and as a total 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: TRACT 1 - $10,000 down payment on the day of auction with the balance in cash at closing.

OTHER TRACTS and Combination with Tract 1: 10% down payment on the day of auction with the balance in cash at closing. The down payment may be made in the form of cash, 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. Seller reserves the right to reject any and all bids.

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

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

CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of presentation of insurable title. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession of Tract 1 and 2 on day of closing, immediately following the closing, Possession of Tracts 3, 5, 7, and 8 subject to tenant farmers 2015 crop. Possession of wooded tracts 4 and 6 on day of closing.

REAL ESTATE TAXES: The Real Estate Taxes shall be pro-rated to the day of closing.

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

SURVEY: The Seller shall provide a new survey where the tract divisions in this auction create new boundaries. 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 purchase will receive a perimeter survey only.

PERIMETER DRAIN TILE EASEMENT: Easement access will be provided over tracts in this property for perimeter drain tile outlets if perimeter drain tile outlets beyond each individual tract are required by the Steuben County Board of Health.

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

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 AS IS, WHERE IS basis, and no warranty or representation, either express, 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 conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the 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 STATEMENTS MADE.

Auction Brochure

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