Vincennes, IN - Knox County, IN

Owner: Lucinda Hartshorne & Mary Elizabeth Schiau Thu, Jan 26, 2023 EASTERN


TOTAL SOLD: $16,032,000

Tract(s): 1-3 @ $3,020,000 ($15,252/acre)
Tract(s): 4 @ $62,000 ($6,888/acre)
Tract(s): 5-8 @ $3,600,000 ($15,319/acre)
Tract(s): 9-14 @ $9,350,000 ($14,946/acre)

• Highly Productive Ragsdale, Patton, & Sylvan Soils • Possession for 2023 Crop Year • 70,000 Bushel Grain Storage & Handling System

ONLINE BIDDING AVAILABLE You may bid online during the auction at You must be registered One Week in Advance of the Auction to bid online. Contact Schrader Auction Company at 800-451-2709 with questions.

Auctioneer's Note: This is a Rare Opportunity to Buy Over 1000 Acres of Some of the Highest Indexing Soils in Knox County! If You are Looking to Expand Your Land Holdings as a Farmer or Investor, this is the Opportunity You've Been Waiting For! We Look Forward to Meeting Each of You at one of the Inspections & at the Auction, so Mark Your Calendar for January 26, 2023!

Auction Info Book


Tuesday, December 27th from 11AM-1PM
Thursday, January 12th from 11AM-1PM
Wednesday, January 25th from 11AM-1PM


From Bruceville, IN at the junction of SR 67 & SR 550 take St Rt 550, head southeast 3 miles to Tracts 1-4.

Tracts 5-8, continue southeast on SR 550 .5 mile to Catt Rd turn right and travel .7 mile to Tracts 5-8.
Tracts 9-12, continue 2 miles on SR 550 to Summers Rd, turn left & travel 2 miles to the south side of Tracts 9-12.
Tracts 13 & 14, continue on SR 550 3.5 miles to Evans Rd, turn left & travel 1.8 miles to Tracts 13 & 14.


Highland Woods Community Center
1377 Hart St, Vincennes, IN 47691


Tract 1: 151± ac 148+/- Tillable Acres. Mostly Ragsdale, Reesville & Sylvan Soils. Frontage on Hwy 550 & N Vash Rd.

Tract 2: 3± ac 2+/- Tillable Acres. 70,000+ Grain Storage & Handling System w/ 6 Bins, Enclosed in Ground Dump, 4,600-5,750 Bushel Capacity Leg, Inline Loading & Unloading Drag Conveyor.

Tract 3: 44± ac 38+/- Tillable Acres. Mostly Sylvan Soils. Frontage on Royal Oak Rd. 5+/- Wooded Acres.

Tract 4: 9± ac 2+/- Tillable Acres. Fronting Hwy 550. Potential Build Site w/ Woods & Tillable Acreage.

Tract 5: 40± ac 39+/- Tillable Acres. Mostly Patton, Sylvan & Hosmer Soils. Fronting Catt Rd.

Tract 6: 36± ac 33+/- Tillable Acres. Patton & Hosmer Soils. Fronting Catt Rd.

Tract 7: 149± ac 142+/- Tillable Acres. Mostly Patton Soils. Fronting Catt Rd & Hatton Rd.

Tract 8: 10± ac 8+/- Tillable Acres. Potential Building Site. Fronting Hatton Rd. Iona & Sylvan Soils.

Tract 9: 76.4± ac 76.404+/- Acres, 70+/- Tillable Acres. Mostly Hosmer & Iona Soils. Fronting Royal Oak Rd.

Tract 10: 151.4± ac 151.416+/- Acres, 142+/- Tillable Acres. Mostly Iona. Sylvan & Birds Soils. Fronting Rte Rd.

Tract 11: 49.5± ac 49.481+/- Acres, 41+/- Tillable Acres. Mostly Ragsdale, Patton & Birds Soils. Fronting CR 1275 E.

Tract 12: 224.3± ac 224.284+/- Acres, 219+/- Tillable Acres. Mostly Ragsdale, Sylvan & Birds Soils. Fronting Summers Rd.

Tract 13: 69± ac 65+/- Tillable Acres. Mostly Ragsdale, Patton & Sylvan Soils. Fronting Evans Rd.

Tract 14: 55± ac 30+/- Tillable Acres. Combination of Tillable & Woods. Potential Building Site or Hunting Tract w/ Income.


Tracts 1-4

Tracts 5-8

Tracts 9-12

Tracts 13+14


PROCEDURE: The property will be offered in 14 tracts, combination of tracts, or as a whole, consisting of a total of 1,028+/- acres. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. Bids on individual tracts & the total property may compete. The property will be sold in the manner resulting in the highest total sale price.

DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, w/ the balance due in cash at closing. 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, & ARE CAPABLE OF PAYING CASH AT CLOSING.

ACCEPTANCE OF BID PRICES: All successful bidders will be required to sign purchase agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Seller's acceptance or rejection.

DEED: Seller shall be obligated only to convey a merchantable title by a Warranty Deed.

EVIDENCE OF TITLE, TITLE INSURANCE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller shall furnish at Seller's expense an updated title insurance commitment disclosing marketable title to the real estate in the name of the Seller as of a date after the Auction & prior to closing, subject to all standard requirements, conditions & exceptions & subject to the Permitted Exceptions. At closing, Seller shall pay for the cost of issuing a standard coverage owner's title insurance policy in accordance w/ the updated commitment. Any lender's title insurance policy shall be at Buyer's sole expense.

CLOSING: The balance of the purchase price is due at closing. The targeted closing deadline is approximately 60 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment & Seller's closing documents. The closing agent's fee for administering closing shall be shared 50:50 between Buyer(s) & Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession shall be granted at closing on all auction tracts except Tract 2. Tract 2 (grain bins), possession shall be granted no later than September 1, 2023.

REAL ESTATE TAXES: The 2022 Real Estate taxes due in 2023 shall be paid by the seller at the time of closing.

MINERALS: Seller shall convey 100% of the mineral rights they own.

ACREAGE & TRACTS: All tract acreages, dimensions & proposed boundaries are approximate & have been estimated based on county tax parcel data, county GIS and/or aerial mapping. Any corrections, additions, or deletions will be made known prior to the auction.

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 & successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Seller's option & 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 & surveyed acres but if & only if the difference exceeds one acre.

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 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. It shall be a requirement that Buyer shall indemnify, defend & hold Owner harmless from any & all loss, cost, expense, damage, liability, mechanics' or materialmen's lien or claim of lien, action or cause of action, including without limitation reasonable attorneys' fees, arising from or relating to any & all inspections, studies, investigations or entries upon the Property by Buyer or its agents or representatives. Such indemnity shall expressly survive closing or any termination of a purchase contract if no Closing occurs & the purchase contract is terminated.

COVER CROP: Buyer shall reimburse seller at closing, for the current cover crop. Check w/ auction company for reimbursement cost per auction tract.

TRACT 2: Tenants shall have through August 31, 2023 to remove grain from bins. Possession shall be granted no later to September 1, 2023.

EASEMENTS: Subject to any & all existing easements.

POTENTIAL EASEMENT - TRACTS 9 & 10: In the event Auction Tracts 9 & 10 sell separately a 50ft easement shall be established for ingress & egress along the west boundary of Auction Tract 9 as illustrated in the brochure auction tract map.

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

DISCLAIMER & ABSENCE OF WARRANTIES: All information 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 approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & 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 & 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 person's credentials, fitness, etc. All decisions of the Auctioneer are final.