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LAND AUCTION - 147+/- ACRES OFFERED IN 3 TRACTS IN LAKE COUNTY, INDIANA

Merrillville, Lake County, Indiana - Southeast of I-65 & US 30 Interchange on Clay Street

Owner: Brothers Sand, LLC
5PM - CST
Tue, Aug 13, 2019

AUCTION IS OVER

5PM CST • 147+/- Acres offered in 3 Tracts • Outstanding Hunting & Recreational Property • Deer, Waterfowl, Turkey and Trophy Quality Northern Pike • 2 Ponds Totaling 25+/- Acres and the Deep River Crosses the Property • 26+/- Deer Stands along with Duck & Goose Blinds Stay with Property • Productive Farmland with CRP Income • 71.6+/- Cropland Acres of which 31.4+/- Acres are in CRP • Short Drive from much of Lake and Porter Counties • Investigate for Potential Home Site • Southeast of I-65 & US 30 Interchange • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.

Rodger and Les Blythe are selling a unique and very versatile property that is just a short drive from much of Lake and Porter Counties. We encourage you to attend one of the inspection dates to fully view the property and see what it has to offer, or contact the auction manager for a private showing.

This Property is in the town of Merrillville and zoned Agriculture.

Deer blinds/stands go with the tract where currently located.



OPEN HOUSE/INSPECTION DATES

Tuesday, July 16 from 4 - 6pm (CST)
Saturday, July 27 from 9 - 11am (CST)
Monday, August 12 from 4 - 6pm (CST)

Meet a Schrader Rep at Tract 2 off Clay St.

PROPERTY LOCATION

From the I-65 and US 30 Interchange (Exit 253) in Merrillville, go east on US 30 approximately 2.3 miles to Clay St. Turn south (right) onto Clay St and go approximately 1 mile to the property on the east side of the road.

AUCTION LOCATION

Turkey Creek Golf Course & Banquet on the Green, 6400 Harrison St, Merrillville, IN 46410. From the I-65 and 61st Ave Interchange (Exit 255) in Merrillville, go west on 61st Ave approximately 1.3 miles to Harrison St. Turn south (left) onto Harrison St and go 0.3 miles to auction site on the west side of the road.

TRACT DESCRIPTIONS

Tract 1: 20± ac Mostly tillable with productive soils. There is an area of approximately 2 acres in the northwest corner that is not tilled. This tract has frontage on Clay Street.

Tract 2: 87± ac This very unique tract has woods, cropland, 2 ponds totaling approximately 25 acres and the Deep River crosses the property in the rear. The west pond is 11+/- acres and the east pond is 14+/- acres. There are 31.4+/- cropland acres, all in CRP. The contract payment is $4,287.00 per year ($136.52 per acre). The CRP contract expires September 30, 2020. This tract has frontage on Clay Street. Three dozen duck decoys, three dozen goose shell decoys, six dozen goose silhouette decoys, two dozen goose floater decoys, two Ameristep pop up blinds and one unregistered jon boat go with this tract.
* Parts of Tract 2 are subject to restrictions for wetlands preservation. The restrictions, and the particular areas subject to the restrictions, are described in a Declaration of Restriction on Land Use recorded in 1994. Contact the Auction Manager for a copy of this Declaration.

Tract 3: 40± ac SWING TRACT
A beautiful tract offering a great mix of tillable and wooded land and the Deep River crosses this tract making a tremendous area for wildlife. There is a bridge for crossing the river on this tract. This tract may only be bid on by an adjoining landowner or in a combination including Tracts 1 and/or 2.

TRACT MAP(S)

SOIL INFORMATION

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts (subject to swing tract limitations), and as a total 147+/- 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 final bid prices are subject to the Sellers acceptance or rejection. All successful Bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.

DELIVERY OF TITLE: Seller will provide a Warranty Deed subject to all easements and restrictions of record and all other Permitted Exceptions described in the purchase contract.

EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Sellers expense, an updated title commitment prior to closing. The cost of providing an Owners Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing. The targeted closing date will be approximately 30 days after the auction. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession is at closing subject to tenant rights for the 2019 crop.

REAL ESTATE TAXES: Seller shall pay all 2019 real estate taxes due and payable in 2020 and also the Little Cal River Basin and Merrillville Storm Water assessments for 2019 due and payable in 2020. Buyer(s) to assume all real estate taxes and other assessments, including drainage assessments, if any, thereafter.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on property tax information, county GIS, existing surveys and/or aerial mapping.

SURVEY: It is expected that the property will be conveyed using existing legal description(s). A new survey will not be provided unless a new survey is required in order to record the conveyance or unless otherwise deemed necessary or appropriate in Sellers sole discretion. If a new survey is provided, 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. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres.

LEASE INCOME: All 2019 farm cash rent to go to Seller.

CONSERVATION RESERVE PROGRAM: Buyer of Tract 2 shall assume the existing Conservation Reserve Program (CRP) contract obligations and shall timely sign all documents required by the Farm Service Agency (FSA) office in connection therewith. Any penalty, repayment, and/or interest assessed due to termination, non-compliance and/or owner-ineligibility after closing shall be the responsibility of the Buyer. All allocations of the annual contract payments shall be determined by the FSA Office.

NOTE: Deer blinds/stands go with the tract where currently/located. The following items will go with Tract 2: 3 dozen duck decoys, 3 dozen goose shell decoys, 6 dozen goose silhouette decoys, 2 dozen goose floater decoys, 2 Ameristep pop up blinds and 1 unregistered jon boat.

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.

EASEMENTS: Subject to any and all existing easements.

AGENCY: Schrader Real Estate and 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.

Auction Brochure

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