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LAND AUCTION - 237+/- ACRES OFFERED IN 7 TRACTS IN LAPORTE COUNTY, INDIANA

LaPorte County, Indiana

Owner: Russell Family Tue, Oct 18, 2016

SOLD FOR $1,320,000

• 237+/- Acres offered in 7 Tracts • Productive Tillable Land • Managed Timberland with 870,000+/- bd/ft Sawtimber • 406 Trees Ready for Harvest • Potential Building Sites • Hunting & Recreational • Frontage on US Hwy 20 • Online Bidding Available • 6:00PM CDT - 7:00PM EDT


OPEN HOUSE/INSPECTION DATES

Meet a Schrader Representative at Tract 5 and East Rolling Drive:
Monday, September 19 from 10 to noon CDT
Wednesday, October 5 from 1 to 3 PM CDT


PROPERTY LOCATION

Property is located just west of Rolling Prairie, IN at the intersection of US Hwy 20 and CR 350 East.

AUCTION LOCATION

Best Western Hotel & Conference Center, 444 Pine Lake Ave., LaPorte, IN 46350

TRACT DESCRIPTIONS

Tract 1: 9± ac with 600 ft. +/- frontage on both US 20 and CR 350 East with both Residential and Agriculture Zoning and approved by LaPorte County for one residential home site.

Tract 2: 43± ac with 42+/- tillable acres and frontage on CR 350 East. Combine with Tract 1 for 52+/- acres.

Tract 3: 23± ac of Classified Forest that are a Swing Tract to be added to one of the adjacent Tracts or owners of adjacent land.

Tract 4: 2± ac wooded tract with 300+/- feet frontage on North Meadowlark Drive and approved by LaPorte County for one residential home site.

Tract 5: 4± ac with access from East Rolling Drive. Includes 30 ft. x 34 ft. +/- pole barn built about 2000 with no utilities and not approved for a residential building site without first obtaining a LaPorte County Building Department Variance for less that 200 feet of road frontage on East Rolling Drive.

Tract 6: 67± ac of Classified Forest and Wildlands with 900 ft. +/- road frontage on CR 350 East that includes large ravines and trails. Approved for one residential building site.

Tract 7: 89± ac of Classified Forest and Wildlands with 450 ft. +/- frontage on CR 350 East with intermitted Water on the east side and large ravines and trails. Approved for two residential building sites.

CLASSIFIED FOREST: 182.5+/- acres with an estimated cost for removal from the Classified Forest program of $32.21 per acre from the LaPorte County Auditor.
Copy of James Potthoff, District Foresters, April 24, 2012 Reinspection available to prospective buyers.


INTERACTIVE MAP

TRACT MAP(S)

SOIL INFORMATION

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 7 individual 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: 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. Purchase agreements are available for review prior to the auction. All final bid prices are subject to the Sellers acceptance or rejection in its sole discretion.

EVIDENCE OF TITLE: The Seller agrees to furnish Buyer(s) an updated commitment for an Owners Policy of Title Insurance prior to closing. The property will be conveyed by a Warranty Deed as more specifically set forth in the purchase agreement.

REAL ESTATE TAXES: Seller shall pay the 2016 real estate taxes and ditch assessments due and payable in 2017. All subsequent real estate taxes and assessments shall be the buyers responsibility.

CLOSING: Closing shall take place on or before December 2, 2016.

POSSESSION: Possession shall be granted at closing, subject to tenants rights to 2016 crop year.

SURVEY: The Seller shall determine any need for a new survey and shall be prepared only when required to convey title as more fully set forth in the purchase agreement. Any new survey provided shall be for the perimeter only when tracts are combined. The survey costs shall be shared 50:50 between Buyer(s) and Seller. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres on purchased acreage.

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 date has been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Buyers 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 aerial photos and neither Seller nor Auction Company warrants such information.

CLASSIFIED FOREST: 182.5+/- acres have been enrolled in Classified Forest program. Any sites selected for building would be subject to removing adequate portions of the property from the program and payment by the Buyer of any fees. Seller is selling the property subject to the program and Buyer(s) agree to accept the property as is with the program in place.

VOLUME BY SPECIES: This chart represents a 2016 tree marking completed by Chris Egolf, Consulting Forester.

AGENCY: Schrader Real Estate & Auction Company, Inc. 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 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 STATEMENTS MADE.

STOCK PHOTOGRAPHY: Photos are for illustrative purposes only and are not of the auction property.

Auction Brochure

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