Jasper County, IN

Owner: J & W Gilmore Farms LLC
(6PM Eastern) (5PM Central)
Mon, Nov 21, 2022 CENTRAL


TOTAL SOLD: $7,040,000

Tract(s): 1-5+7 @ $5,350,000 ($12,250/acre)
Tract(s): 6 @ $250,000
Tract(s): 8+9 @ $360,000 ($9,253/acre)
Tract(s): 10+11 @ $1,080,000 ($8,089/acre)

• Productive Soils • Highly Tillable Tracts • One Unit - 240 +/- Contiguous Acres • Farmstead with 1 Story Home, Grain Storage and 2 Machine Sheds • Wooded Tracts for Hunting/Recreational • Investigate Home Site Potential in Wooded Park Like Setting

Contact Auction Managers for Information Booklet including FSA and building information and other due diligence materials.

Auction Info Book


Thursday, October 27th from 3-5pm Central/4-6pm Eastern
Saturday, November 5th from 9-11am Central/10am-Noon Eastern
Meet a Schrader Representative at Tract 6: 8642 S 380 W, Rensselaer, IN 47978


From 3 3/4 miles south of Rensselaer on US 231 at the intersection of US 231 & SR 16:
To Farm A: Go west on SR 16 approximately 3 miles to Tract 1 on north side of the road.
To Farm B: Continue west of Tract 1 on SR 16 3/4 mile to CR 980 W. Go north on 980 W 1/4 mile to Farm B on the west side of the road.
To Farm C: From the intersection of US 231 & SR 16, go east on SR 16 approximately 1.8 miles to CR 380 W. Go north on 380 W 1 mile to Farm C at the northwest corner of 380 W and 900S.
To Farm D: From the intersection of US 231& SR 16, go east on SR 16 approximately 6.2 miles to CR 60 E. Go north on 60 E 2 miles to CR 800 S. Go east on 800 S 1/4 mile to Farm D on the south side of the road.


Meadow Springs - 8631 S US 421, Francesville, IN 47946
Approximately 12 1/2 miles east of Rensselaer on SR 114 to US 421.
Auction Location is at the southwest corner of US 421 & SR 114.



Tract 1: 80+/- Acres Productive farmland and 80.1+/- tillable acres per FSA. Frontage on State Road 16.


Tract 2: 80+/- Acres Productive farmland and all tillable except road. Frontage on CR 980 W.
Tract 3: 40+/- Acres Productive farmland and all tillable except road. Frontage on CR 980 W.


Tract 4: 99+/- Acres Productive farmland with 94.65 tillable acres per FSA. Frontage on CR 380 W.
Tract 5: 31.5+/- Acres Productive farmland and all tillable except for the ditch on the south/southwest and road. Road frontage on CR 380 W.
Tract 6: 3.5+/- Acres Highly improved tract with an attractive one story 1589 SF home with 3 bedrooms, 1 bath, full basement and central a/c. Garage is 26' x 30' with a roof covering to the house. A 50' x 72' machine shed with a 24' x 32' heated shop and another 48' x 72' machine shed. There is also an 8,000 bushel (per tenant) dryer bin, 6,000 bushel (per tenant) dryer bin, 16,500 bushel (per tenant) grain bin and a grain leg. There is also a 44' x 29' converted corn crib, an older 30' x 80' tool shed and a 20' x 50' chicken house. Contact the auction managers for an Information Book for more building information. The address is 8642 S 380 W, Rensselaer, IN 47978. Consider bidding in combination with Tract 5 for more room for animals and tillable land.
Tract 7: 106+/- Acres Productive farmland with 99.64 tillable acres per FSA. An older open front shed is included with this tract. Frontage on CR 900 S and CR 380 W.


Tract 8: 24+/- Acres Productive farmland that is mostly all tillable. Frontage on CR 800 S.
Tract 9: 15.5+/- Acres Beautiful, mostly wooded tract. Investigate the home site potential in this wooded park like setting. Also consider the excellent hunting and recreational opportunities and investigate for timber potential. Look at bidding in combination with Tract 11 for additional hunting/recreational opportunities and tillable land. A wide lane is already established through the woods.
Tract 10: 85.5+/- Acres Productive farmland and mostly tillable. Frontage on CR 800 S.
Tract 11: 48+/- Acres "SWING TRACT"; This tract has a nice mix of productive tillable land and woods at the rear of the property. This Tract must be bid on in a combination with an adjoining tract or by an adjoining landowner


FARM A: Tract 1

FARM B: Tracts 2 & 3

FARM C: Tracts 4-7

FARM D: Tracts 8-11


PROCEDURE: The property will be offered in 11 individual tracts, any combination of tracts (subject to "swing tract" limitations) and as a total 613+/- 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 cashier's 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 Seller's 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 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 Seller's expense, an updated title commitment prior to closing. The cost of providing an Owner's 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 or as soon thereafter upon completion of surveys, if applicable, the final title commitment and Seller's closing documents. 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 at closing subject to tenant rights for the 2022 crop. Possession of the house and all outbuildings on Tract 6 will be delivered on February 1, 2023. Possession of the open front shed on Tract 7 will be delivered on February 1, 2023.

REAL ESTATE TAXES: Seller shall pay all 2022 real estate taxes due and payable in 2023. Buyer(s) shall assume any taxes thereafter. Buyer(s) shall assume any ditch and drainage assessments due after closing.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on county tax parcel data, 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. Farms, A, B & D will be surveyed prior to or after the Auction. 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 Seller's 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, except for Tract 6 or any combination that includes Tract 6.

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 Bidder's 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.

STOCK PHOTOGRAPHY: A deer photo was used for illustrative purposes only and was not taken on the auction property.

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 person's credentials, fitness, etc. All decisions of the Auctioneer are final.