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SOLD

LAND AUCTION - 389.5+/- ACRES IN 11 TRACTS IN SULLIVAN COUNTY, INDIANA

Sullivan County, Indiana

Owner: Ernie Johnson Thu, Jun 30, 2016

SOLD FOR $1,591,000

• 389.5+/- Acres offered in 11 Tracts • 278.3 Cropland Acres • 4 Ponds • Home • Grain Storage, Scale • Modern Shop & Machine Sheds • Potential Home Sites • Hwy 41 Frontage • 15 miles south of Terre Haute • Wooded Acreage • Reesville Soils • Be sure to attend the Farm Equipment Auction at 9AM on Tract 7 • Including: (2) JD Tractors, (3) Trucks, Late Model Tillage Equip. & Shop Tools


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Monday, June 6th from 4pm - 6pm
Thursday, June 16th from 4pm - 6pm
Wednesday, June 29th from 1pm - 5pm

PROPERTY LOCATION

Located between Sullivan & Terre Haute at Farmersburg. From Farmersburg travel south on US Hwy 41, .6 miles to Co. Rd. 1100 N, turn west .5 mile to the property.

AUCTION LOCATION

Sullivan County Fairgrounds, 1301 E. Co. Rd. 75, Sullivan, IN.

TRACT DESCRIPTIONS

Tract 1: 191± ac having approx. 146+/- tillable acres, level to sloping topography and predominately Reesville soils. The balance is mostly wooded acres and two nice ponds.

Tract 2: 8± ac fronting Co. Rd. 1100N, a hard surface county road with public water available. This small tract has many uses.

Tract 3: 13± ac fronting Co. Rd. 1100N, a hard surface county road. There is open land with grass and wooded areas, picturesque pond, public water available.

Tract 4: 18± ac fronting Co. Rd. 1100N, a hard surface road. This tract is wooded with some open areas, public water is available. A nice recreational tract.

Tract 5: 48± ac having approx. 40+/- acres tillable, with frontage along US Hwy 41 and Co. Rd. 1100N. Predominately Reesville soils. There is a billboard lease, adding income to this tract.

Tract 6: 9± ac located at the corner of US Hwy 41 and Co. Rd. 1100N. Mostly tillable farmland, this tract could be used in many ways. Consider the high traffic count, easy access, available utilities and location.

Tract 7: 5.5± ac this farming headquarters is situated in the heart of the Johnson Farm and has many modern improvements that have been well maintained.
Home: Improvements include a brick ranch style house containing approx. 3300 square feet of living area on the main and lower levels. There is a living room, kitchen with modern cabinetry, built-in electric double oven, stove top and tile flooring. 2 bedrooms with closets on the main floor, 1 bedroom on the lower level, a full bath and carpeting throughout. The home is heated by a propane gas forced heat furnace and central air, the property has public water. The lawn is well groomed, has mature shade trees and white vinyl fencing. Adjacent to the homes is a three car detached garage, full concrete floor and portioned office area.
Shop: 1973 Morton building, 45 ft.x75 ft. fully concreted floor, 14 ft. eves, fully insulated with a Reznor propane ceiling mount furnace, 20 ft. double sliding machine doors, 110 & 220 electric.
Machine Storage: 1988 Cleary 60 ft.x100 ft. pole building, 16 ft. eves, 24 ft. double machine doors, electric lighting. Hay or Machine Storage: 30 ft.x40 ft. open face pole construction machine shed with electricity.
Garage: 24 ft.x32 ft. frame garage with vinyl siding, concrete floor, electric overhead door.
Grain System: consisting of approx. 75,000 bushel storage total with approx. 60,000 bu. storage tied together with transfer augers.

  • 1982 Stormor 4200 bu. hopper bottom bin
  • 1982 Stormor 14,000 bu. bin with drying unit
  • 1989 Superior 23,000 bu. bin with aeration
  • Behlen 8,000 bu. bins with aeration
  • (2) Superior 12,000 bu. bin with aeration
  • Behlen 3300 bu. bin. There is a grain, testing, grading and system control building, a 30 ft. electronic platform truck scale.

    Tract 8: 27.9± ac fronting US Hwy 41 with 18.1 tillable acres and the balance wooded, Reesville soils. A productive tract in a high traffic area with many possible uses.

    Tract 9: 13± ac with access and frontage along US Hwy 41, nearly all tillable Reesville soils. A productive tract in a high traffic area.

    Tract 10: 32± ac with access and frontage along US Hwy 41. This tract has a level to sloping topography with both tillable and wooded acreage. There is a billboard lease providing an income stream. A diverse tract in a high traffic area.

    Tract 11: 24± ac fronting Co. Rd. 140E 16.37 tillable acres, mostly Reesville soils. A productive tract on its own or combine with tract 10 for access to US Hwy 41.


    INTERACTIVE MAP

  • TRACT MAP(S)

    SOIL INFORMATION

    AREA MAP(S)

    BIDDING PROCEDURE: Tract 7 and Tract 8 will be offered as individual tracts only and neither may be combined with any other tract. All other tracts will be offered individually, in any combination and as a whole unit. Bidding on individual tracts and permitted combinations will compete until the end of the auction. Tract 7 will be sold to the highest bidder regardless of price, with no minimum bid and no reserve selling price. All other tracts will be sold to the highest bidder(s) if and only if the aggregate total of the high bid(s) is equal to or greater than the unpublished reserve amount.

    PURCHASE CONTRACT: Immediately following the close of bidding, each high bidder will sign a purchase contract in the form provided in the bidder packets. All information contained in this sale brochure and other marketing materials is subject to the terms and conditions contained in the written purchase contract. Seller shall not be bound by any statement, promise or inducement that is not contained or incorporated in the written purchase contract. Prior to the auction, the form of purchase contract and court-approved bid procedures will be available for review at www.schraderauction.com and/or upon request.

    PAYMENT: 10% of the purchase price will be due as a down payment on the day of auction, with the balance due at closing. 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.

    CLOSING: Closing will be on or before August 1, 2016 or as soon as possible after said date upon completion of the survey (if applicable), the final title commitment, Sellers closing documents and any post-sale bankruptcy court proceedings that may be required in order to consummate the sale.

    POSSESSION: Possession will be delivered at closing, but subject to the rights of tenants under: (i) the existing farm lease(s) for the remainder of the 2016 crop year; and (ii) the existing Billboard Location Lease(s) for the remainder of its term. Seller is retaining the rights to the farm rent for 2016 and all billboard rent due prior to closing.

    REAL ESTATE TAXES: Seller will pay the estimated real estate taxes for all of 2016 (due in 2017) except that, with respect to Tract 7, the taxes will be prorated to the date of closing.

    DEED: The property will be conveyed by warranty deed, free and clear of liens but otherwise subject to all roads, easements, matters of record and other permitted exceptions described in the purchase contract.

    EVIDENCE OF TITLE: Preliminary title evidence will be available for review prior to the auction. At closing, Seller shall furnish a standard owners title insurance policy in the amount of the purchase price, subject to all permitted exceptions.

    SURVEY: A new survey will be obtained only if necessary to record the conveyance or otherwise deemed appropriate in Sellers sole discretion. Survey costs, if any, will be shared equally (50:50) by Seller and Buyer.

    TRACT MAPS; ACRES: Tract maps and acres depicted in the marketing materials are approximations based on county parcel data, current legal descriptions and/or aerial mapping and are not provided as survey products.

    PROPERTY INSPECTION: Inspection dates have been scheduled and will be staffed with auction personnel. Seller and Auction Company disclaim any and all responsibility for the safety of prospective bidders and other persons during any physical inspection of the property. No person shall be deemed an invitee with respect to the property by virtue of its being offered for sale.

    THIS PROPERTY IS OFFERED AS IS, WHERE IS. NO WARRANTY OR REPRESENTATION, STATED OR IMPLIED, IS MADE BY SELLER OR AUCTION COMPANY CONCERNING THE PROPERTY. Prospective bidders are responsible for conducting their own independent inspections, investigations, inquiries and due diligence prior to bidding. The information contained in this brochure and other marketing materials is provided subject to a bidders independent verification. Seller and Auction Company assume no liability for any inaccuracies, errors or omissions. All sketches and dimensions are approximate.

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

    CONDUCT OF AUCTION: The conduct of the auction and increments of bidding will be at the direction and discretion of the auctioneer. Seller and its agents reserve the right to preclude any person from bidding if there is any question as to the persons identity, credentials, fitness, etc. All decisions of the auctioneer at the auction are final.

    CHANGES: Please arrive prior to scheduled auction time to review any changes or additions to the property information. AUCTION DAY ANNOUNCEMENTS WILL TAKE PRECEDENCE OVER THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS.