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SOLD

LAND AUCTION - 492+/- ACRES OFFERED IN 7 TRACTS IN SULLIVAN & KNOX COUNTIES, INDIANA

Sullivan & Knox Counties - Near Oaktown

Owner: Summers Wolfe, LLC Tue, Jun 26, 2018

SOLD FOR $3,175,000

• 492+/- Acres offered in 7 Tracts • 437 Ac. Tillable • 3 Center Pivot Irrigation Systems • Excellent Produce Acreage • Suited for Melons, Vegetables & Specialty Crops • Irrigated Land in the Heart of Produce Country! • Sullivan & Knox Counties • Near Oaktown • 13 miles South of Sullivan • 15 miles North of Vincennes • Online Bidding Available


Auction Info Book


OPEN HOUSE/INSPECTION DATES



Monday, June 4th from 10AM - 12Noon
Thursday, June 14th from 10AM - 12Noon

Meet a Schrader Representative at Tract 1

PROPERTY LOCATION

From the Jct. of US Highway 41 & Co. Rd. 1100 S 3.3 mile north of Oaktown or 3.5 mile south of Carlisle.
To Tract 1 through 5:
Take Co. Rd. 1100 S and go west 2.3 mile (making several turns) to the property.
To Tract 6 & 7: Take Co. Rd. 1100 S and go east 0.7 mile to the south side of Tract 6.

AUCTION LOCATION

Sullivan County 4-H Fairgrounds Exhibit Building, 1361 E. County Rd. 75 N, Sullivan, IN.

TRACT DESCRIPTIONS

Tract 1: 123± ac nearly all tillable, level topography, Ade & Elston soils, a small grain bin and a T-L, 6 tower, hydraulic, center pivot irrigation system. New tires 2017.

Tract 2: 67± ac nearly all tillable, level topography, Ade, Elston & Stockland soils, and a Reinke, 4 tower, center pivot irrigation system.

Tract 3: 85± ac all tillable, level topography, Ade and Elston soils and a Valley, 5 tower, center pivot irrigation system with corner arm.

Tract 4: 19± ac all tillable, level topography, Ade & Elston soils.

Tract 5: 60± ac with 40.7 tillable acres, the balance wooded. An excellent tract for recreational & hunting with a good potential income stream.

Tract 6: 113± ac with 105.6 tillable acres, Princeton, Rensselaer & Ayshire soils. Frontage on Co. Rd. 1100 S and Old Hwy. 41.

Tract 7: 25± ac fronting Old Hwy. 41. A nice pasture, recreational tract with trees and a stream making it a potential building site. There is a 40 ft. x40 ft. Quonset building.

TRACT MAP(S)

TRACTS 1-4

TRACT 5

TRACTS 6 & 7

SOIL INFORMATION


TRACTS 1-4


TRACT 5


TRACTS 6 & 7

AREA MAP(S)

PROCEDURE: The property will be offered in 7 individual tracts, any combination of tracts and as a total 492+/- 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 Warranty Deed(s).

CLOSING: The balance of the real estate purchase price is due at closing, which will take place on or before July, 26, 2018.

POSSESSION: Possession shall be at closing subject to tenants right to 2018 crop.

REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning with taxes due in November 2019 and thereafter.

CASH RENT 2018: Seller shall retain the 1st cash rental installment of 2018. Buyer shall receive the 2nd installment of cash rent for 2018.

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 and/or aerial photos.

MINERAL RIGHTS: Seller shall retain all mineral rights they own until August 1, 2028. At which time Seller shall convey 100% of their mineral right interest to the owner of the surface.

IRRIGATION TRACTS 1 & 2: The well providing irrigation water to Tract 2 is situated on Tract 1. In the event Tract 1 and Tract 2 sell separately, the Buyer of Tract 2 shall be responsible for providing their own water source.

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.

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.