Home / Auction Info



12093 US Hwy 40 Cambridge City, IN 47327 - Wayne County, IN

Owner: Robert L. Jacobs Trust, Gary Jacobs - Trustee, Jeffry Jacobs - Trustee, Robert Bever - Attorney Mon, Nov 22, 2021


TOTAL SOLD: $1,125,000

Tract(s): 1+3 @ $320,000 ($7,619/acre)
Tract(s): 2 @ $110,000
Tract(s): 4 @ $430,000 ($6,718/acre)
Tract(s): 5 @ $265,000 ($6,883/acre)

• 122.36 FSA Cropland Acres • Frontage on Both Sides of US 40, Pennville Rd & Jacksonburg Rd • Between Cambridge City & Centerville • Well Kept County Home • Great Combination of Cropland, Investment Opportunity, Recreation Tracts & Billboard Income • Cambridge City Schools • 2022 Crop Rights Being Conveyed

Auction Info Book


Nov. 6th from 9:00 to 11:00AM
Nov. 13th from 9:00 to 11:00 AM
Nov. 20th from 9:00 to 11:00 AM

Meet a Schrader Rep at Tract 2


12093 US Hwy 40, Cambridge City, IN 47327
DIRECTIONS: From Cambridge City at Hwy 1 east on Hwy 40, about 3 mi. to Pennville Rd. Both sides of US 40.


Golay Community Center
1007 E Main St Cambridge City, IN 47327
At the intersection of US 40 & State Hwy 1 on the NW corner.


Tract 1: 19.5± ac all cropland with about 980ft of frontage on the south side of Hwy 40. Income from 2 billboards annually. Good investment and great location.

Tract 2: 1.5± ac with ranch home, 3 bedroom, 1 bath and good, full basement. One car attached garage, central air. Immediate possession. Built 1958. Well maintained in nice setting on Hwy 40.

Tract 3: 22.5± ac with 20+/- acres cropland. Balance in woodland. About 1,300ft of frontage on south side of Hwy 40 and about 425ft on Pennville Rd. Nice investment and great location on two good roads.

Tract 4: 64± ac with 54+/- cropland acres and 9+/- acres of woods and stream. Great hunting/recreation area with easy access. These tracts are hard to find with billboard income and lots of frontage on Hwy 40.

Tract 5: 38.5± ac with 29.6+/- acres cropland. Crosby soils. About 9 acres of woodland and about 447ft of frontage on Jacksonburg Rd.


Tracts 1-5


PROCEDURES: The property will be offered in 5 individual tracts, any combination of tracts, or as a total 146+/- 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: Real Estate 10% down payment on the day of the auction with the balance in cash at closing. The down payment may be made in the form of cash, 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: Successful bidder(s) will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. All final bid prices are subject to the Seller's acceptance or rejection.

EVIDENCE OF TITLE: Sellers shall provide an owner's title insurance policy in the amount of the purchase price.

DEED: Sellers shall provide Trustee Deed.

CLOSING: The targeted closing date will be approximately 30 days after the auction. The balance of the real estate purchase price is due at closing.

POSSESSION: At closing subject to 2021 crop rights.

REAL ESTATE TAXES: Seller to pay 2021 taxes payable 2022 to be credited to Buyer(s) at closing. Taxes estimated at $2,713.16/yr.

ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.

SURVEY: A new survey will be made where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Buyer(s) and Seller will share survey expense 50:50. Combination purchases will receive a perimeter survey only. Closing prices will be adjusted to reflect any differences between advertised and surveyed acreage's.

FSA INFORMATION: Farm #2651. See Agent.

EASEMENTS: Sale of the property is subject to any and all easements of record.

MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller.

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 "AS IS, WHERE IS" basis, and no warranty or representation, either express or implied, concerning the property is made by the seller or the auction company. 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 Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers and Selling Agents reserve the right to preclude any person from bidding if there is any question as the person's credentials, fitness, etc. All decision of the Auctioneer is final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. AUCTION COMPANY OR OWNER NOT RESPONSIBLE FOR ACCIDENTS.