• 257.3+/- Acres offered in 6 Tracts • Productive Tillable Farmland • Development Land on SR 10 • Billboard Lease Income • Brick, Ranch Style Home • 2 Large Pole Buildings • 10 Horse Stalls • Potential Home Sites • Recreational & Hunting Opportunities • Immediate Possession of Farmland Available • 65+/- miles southeast of Chicago, IL • 4+/- miles east of Lake Village, IN
REAL ESTATE AUCTION - 257.3+/- ACRES OFFERED IN 6 TRACTS IN NEWTON CO., IN
Newton County, Indiana - Part of Sections 13 & 17, T31N, R8W, Lincoln Township
Owner: The Ante & Milena Vulich Trust under agreement dated 9/25/1992; Ante Vulich; Denis Vulich Thu, Mar 24, 2016 EASTERNAUCTION IS OVER
TOTAL SOLD: $845,000
| Tract(s): 1 | @ $260,000 | ($5,200/acre) |
| Tract(s): 2 | @ $115,000 | ($2,233/acre) |
| Tract(s): 4+5 | @ $320,000 | ($5,818/acre) |
| Tract(s): 6 | @ $150,000 | ($4,644/acre) |
OPEN HOUSE/INSPECTION DATES
Saturday, March 5 from 9-11am (Central)
Thursday, March 10 from 3-5pm (Central)
Meet a Schrader representative at the buildings on Tract 4.
PROPERTY LOCATION
To Tract 1: From the junction of State Roads 10 and 55, west of Roselawn, IN, take SR 10 2 miles west to County Road 100 E. Go south (left) on CR 100 E approximately 1/2 mile to property on east side of road.
To Tracts 2-5: From junction of State Roads 10 and 55, go west approximately 1 mile on SR 10 to County Road 200 E. Go south (left) on CR 200 E .4 miles to property on west side of road.
To Tract 6: From east of Roselawn at the Interstate 65 and State Road 10 interchange, go west on SR 10 approximately 6/10 mile to property on the south side of road. Property is just a short distance west of traffic signal.
AUCTION LOCATION
Lincoln Township Fire Department, 3130 E. 1177 N., Thayer, IN 46381. From the junction of State Roads 10 and 55, west of Roselawn, IN, go north on SR 55 approximately 1.8 miles to 1185 N (1st street north of railroad tracks). Turn east (right) on 1185 N and then take another immediate right (south) onto East Avenue, and follow the curve to the left (turns into 1177 N) traveling approximately 1/8 mile to auction site on north side of street. GPS does not work with this address so please use the directions provided.
TRACT DESCRIPTIONS
Tract 1:
50± ac
Productive farmland with 48.11 tillable acres per FSA, in one field. Road frontage on CR 100 E.
Tract 2:
51.5± ac
This tract is nearly all wooded. Consider the hunting and recreational opportunities of this tract or investigate the possible use as a building site. An underground pipeline crosses this tract diagonally. This tract will have 30 ft. of road frontage on CR 200 E.
Tract 3:
68.5± ac
Mostly tillable farmland with an area of trees near the road and in the southcentral portion of the tract. Consider the income potential of the tillable land on this tract along with the possible use as a building site. Frontage on CR 200 E.
Tract 4:
20± ac
This tract is improved with a 1600 SF brick ranch style home with a full basement and attached 2 car garage built in 1972. There is also a 120 ft. x 48 ft. metal sided pole building with concrete floor, floor drain, 2 overhead electric doors 22 ft. wide x 12 ft.6 in. high and a 1/2 bath with electric heat in the bathroom. Attached to this building is a 48 ft. x 34 ft. garage with concrete floor, 2 overhead electric doors, one 16 ft. wide x 9 ft.8 in. high and the other 12 ft. wide x 9 ft.8 in. high. There is also a 108 ft. x 50 ft. metal sided pole building with dirt floor. Consider the possible storage uses of this building or use for an indoor riding arena. Attached to this building is a 108 ft. x 17 ft. lean-to with 10 horse stalls and a tack room. This tract also has a wood frame metal sided building partially open to the south. There are 8.3 tillable acres per FSA, a fenced area for horses and a wooded area. There is a paved driveway and this tract has frontage on CR 200 E. Consider bidding in combination with Tract 5 for more tillable land. The address of the home is 9560 N 200 E Lake Village, IN 46349.
Tract 5:
35± ac
SWING TRACT-This tract has productive soils and there are 30.93 tillable acres per FSA. This tract must be bid on by an adjoining landowner or in a combination bid with Tracts 2, 3 or 4.
Tract 6:
32.3± ac
Great highway location on State Road 10 in an area of established businesses. It is approximately 6/10 of a mile west of the Interstate 65 and State Road 10 interchange, and a short distance west of the traffic signal at SR 10 and CR 600 E. There are 2 billboard signs generating a total lease income of $7,200 per year. The property is zoned B2. This property is nearly all wooded and also has road frontage on CR 600 E (Newton-Jasper county line).
REAL ESTATE TAXES: 2014 payable 2015 (Tract 1) $1,305.36; (Tracts 2 & 3) $2,360.48; (Tracts 4 & 5) $5,371.88; (Tract 6) $126.00
Contact auction managers for room sizes and additional information regarding the home.
AREA MAP
TRACT MAP(S)
Tract 6
Tracts 1-5
AREA MAP(S)
PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts, and as a total 257.3+/- 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.
DEED: Seller shall provide a Warranty Deed and/or Trustees Deed sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.
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, which will take place 30 days after auction day, or as soon thereafter as applicable closing documents are completed by the Seller. 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 of house is 30 days after closing. Otherwise possession is at closing or immediate possession of farmland with an additional 10% down payment.
REAL ESTATE TAXES: Seller shall pay all 2015 real estate taxes due and payable in 2016 except that, with respect to Tract 4 only, the 2016 real estate taxes shall be prorated to the date of closing.
ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on property tax information, county GIS and/or aerial mapping.
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 or where Seller otherwise determines a survey is appropriate. Any need for a new survey shall be determined solely by the Seller. Seller and successful Bidder(s) 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 acres and surveyed acres, except with respect to Tract 4 or any combination which includes Tract 4.
LEASE INCOME: House lease income on Tract 4 and billboard lease income on Tract 6 will be prorated to the date of closing. House and billboard lease income after closing shall go to the buyer of the respective tracts.
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 & 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 the 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: Some photos are for illustrative purposes only and are not of the auction property.
