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Jay County, Indiana

Owner: Estate of John Hanlin Wed, Mar 3, 2021


TOTAL SOLD: $3,150,000

Tract(s): 1 @ $810,000 ($8,526/acre)
Tract(s): 2 @ $240,000 ($7,272/acre)
Tract(s): 3 @ $300,000 ($5,000/acre)
Tract(s): 4+5+7+8 @ $1,116,000 ($7,130/acre)
Tract(s): 6 @ $24,000 ($6,857/acre)
Tract(s): 9-12 @ $660,000 ($6,666/acre)

• 447+/- Acres offered in 12 Tracts & Combinations • East Central Indiana • Just 30 Minutes from Fort Wayne, Indiana • Pastures & Fencing, Perfect for Livestock, Horses or Other Animals • Mostly Tillable with Rolling Land and Woods • Mostly Pattern Tiled • Beautiful Potential Building Sites • Plenty of Road Frontage • 2021 Crop Rights for the Buyer! • Zoning: Agriculture/Residential School District: High School - Jay County Jr./Sr. School & Elementary - Bloomfield • These tracts have great savings for anyone that wants or has livestock, horses, or other animals as these tracts are already fenced, have water & electric on many. The tracts are mostly tillable & have potential as a building site for your new home.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.

Note: Per the Jay County Health Department, please adhere to the following COVID-19 guidelines: 1) Do not attend if sick or not feeling well. 2) Wear a mask. 3) Practice social distancing. Hand sanitizer & masks will be available at the auction site. You may also bid online.

Information Book


Sat, Feb. 13 from 10am-1pm
Mon, Feb. 22 from 1-3pm

Meet a Schrader Representative at Tract 3.


9089 W Balbec Rd Pennville, IN 47369
From SR #1 go East on W Balbec Rd & West on 650 N in Jay County to properties.


Lions Club Civic Center, 307 E 100 N Portland, IN 47371


Tract 1: 95± ac All tillable w/irrigation & lift station. Tract has road access onto SR 1 & is mostly pattern tiled.

Tract 2: 33± ac Includes 60 ft.x120 ft. 3-sided cattle barn, waterers, concrete lot, electric, w/fence, well, & livestock chute. Potential building site.

Tract 3: 60± ac Beautiful tract consisting of a 2,214 sq. ft., 3-story brick home w/a 2.5 attached garage, 2 ponds & 1 pavilion. Home has 4 bedrooms, 1.5 baths, hot water heat & crawl space. Also included is a 34 ft.x60 ft. heated show barn w/10 ft. ceilings, 4 waterers & overhead door, a 42 ft.x62 ft. bank barn, 26 ft.x40 ft. office garage w/overhead doors, 14 ft.x14 ft. red garden shed, 24 ft.x40 ft. heated hobby workshop, 54 ft.x72 ft.x14 ft. high for hay storage & workshop w/sliding doors & overhead door. Tract is mostly pattern tiled. Bidding on this tract must be on an individual basis & cannot be combined w/other auction tracts.

Tract 4: 38± ac very secluded w/ an estimated 100 ft. of road frontage on Balbec Rd & a lane that goes back approx. 900 ft.. Presently, this tract is a pasture field. Great land for pasture. Tract is mostly pattern tiled.

Tract 5: 66.5± ac SWING TRACT can only be purchased by an adjoining property owner or combination of property that has road frontage. Tract also includes a lift station & is mostly pattern tiled.

Tract 6: 3.5± ac w/approx. 255 ft. of frontage on Balbec Rd. This Tract is level & a potential building site.

Tract 7: 24.5± ac w/an estimated 1060 ft. of frontage on Balbec Rd & 720 ft. of frontage on a gravel road. This is a rolling parcel that is fenced & seeded to alfalfa. Potential building site. Tract is mostly pattern tiled.

Tract 8: 27.5± ac w/road frontage & some roll. This is a pasture field presently w/a corral & chute, fence, pond, electric, well & some woods. Potential building site. Tract has a fair amount of drainage tile installed.

Tract 9: 25± ac w/about 1,055 of road frontage. Rolling pasture field w/fence. Parcel has electric, corral, well, cow & calf shed. Potential building site.

Tract 10: 21± ac w/an estimated 1,085 ft. of road frontage. This parcel has some woods & a fence. Potential building site.

Tract 11: 26.5± ac w/approx. 860 ft. blacktop road frontage. This parcel is presently a nice rolling pasture field & has a small wooded area. Potential building site.

Tract 12: 26.5± ac w/about 550 ft. of blacktop road frontage. This tract has rolling land w/a fence, pasture field, livestock chute, corral, well & electric. Potential building site.

These tracts have great savings for anyone that wants or has livestock, horses, or other animals as these tracts are already fenced, have water & electric on many. The tracts are mostly tillable & have potential as a building site for your new home.


Tracts 1-8

Tracts 9-12


PROCEDURE: Property will be offered in 12 individual tracts, any combination of tracts & as a total 447+/- 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).

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. ANY ANNOUNCEMENTS MADE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.