Home / Auction Info



Steuben County, Indiana

Owner: Charles P. Martz Tue, Nov 24, 2020


TOTAL SOLD: $2,375,000

Tract(s): 1-8 @ $2,375,000 ($7,251/acre)

• 334.5+/- Acres offered in 8 Tracts or Combinations • Great Opportunity for Productive, Tillable Farmland • 304+/- Tillable Acres • Tracts Ranging from 15+/- to 80+/- Acres • 9+/- CRP Acres • Three 10,000 Bushel Grain Bins Being Sold for Removal • 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.

Information Book


Wednesday, October 28 from 3-5pm
Monday, November 9 from 3-5pm

Meet a Schrader Representative on Tract 1 at the Grain Bins


If traveling on I-69, take exit 340 toward Ashley onto SR 4. Continue East on SR 4 for 1 mile, then head North on CR S 225 W. Continue for 1.5 miles and the property will be on your left.


Sylvan Cellars Event Center, 2725 E Northport Rd, Rome City, IN 46784
If traveling from the South, from the intersection of SR 6 and SR 9 take SR 9 North for 4 miles. The auction site will be on your left. If traveling from the North, from the intersection of W County Line Rd and SR 9 in Wolcottville, take SR 9 South for 1.5 miles and the auction site will be on your right.


Tract 1: 78± ac of majority productive tillable farmland. Contains woods providing for additional recreational opportunities. Approximately 120 of total road frontage on S 225 W.

Tract 2: 58± ac SWING TRACT Majority productive tillable farmland in addition to CRP land.

Tract 3: 32.5± ac of majority productive tillable farmland. Offers approximately 985 of great road frontage on Grapevine Rd.

Tract 4: 69± ac of majority productive tillable farmland. Contains storage shed. 1,315 of frontage on Grapevine Rd & 1,400 on S 225 W.

Tract 5: 15± ac of majority productive tillable farmland. Offers great potential building site & 985 of frontage on Grapevine Rd.

Tract 6: 45± ac of productive tillable farmland w/ 600 of frontage on Grapevine Rd.

Tract 7: 30± ac of productive tillable farmland. 1,400 of frontage on S 225 W.

Tract 8: Three 10,000 bushel grain bins in excellent condition being sold for removal. Comes with farm fan CF/AB270 dryer and DMC vac transfer 700. Selling the complete system as is.



PROCEDURE: The property will be offered in 8 individual tracts, any combination of tracts & as a total 334.5+/- acre unit. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations & 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, & 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).

DEED RESTRICTIONS: The following deed restrictions shall apply if the property sells in multiple tracts: All homes must be built to the Indiana 1 & 2 Family Dwelling Code. (This would exclude all mobile homes & typical doublewide modular homes.) The min. square footage (exclusive of garages, basements & porches) on single story homes shall be 1,400 sq. ft.. The min. square footage on 1-1/2 story homes shall be 1,600 sq. ft.. The min. square footage on 2 story homes shall be 1,800 sq. ft.. All homes must have no less than a 5/12 roof pitch & no less than a two-car, attached garage.

CLOSING: The targeted closing date will be approx. 30 days after the auction.

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Seller shall pay all 2020 real estate taxes due & payable in 2021. Buyer shall assume any taxes thereafter. Buyer shall assume any ditch & drainage assessments due after closing.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries & due diligence concerning the property. Inspection dates have been scheduled & will be staffed w/ auction personnel. Further, Seller disclaims any & 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, & proposed boundaries are approx. & have been estimated based on current legal descriptions and/or aerial photos.

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 & 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 & sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

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

DISCLAIMER & ABSENCE OF WARRANTIES: All info contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, & no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approx. . Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & due diligence concerning the property. The info 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 & increments of bidding are at the direction & discretion of the Auctioneer. The Seller & 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.


TERMS ON GRAIN BIN PURCHASE: Cash or Check w/proper ID. 4% convenience fee for credit cards. Announcements made the day of the auction take precedence over any printed material. Not responsible for accidents.