Rensselaer, IN - Jasper County, IN

Owner: Lake County Trust Co. Trust #2925 Tue, Mar 21, 2023 CENTRAL


TOTAL SOLD: $1,945,000

Tract(s): 1+2 @ $1,045,000 ($13,571/acre)
Tract(s): 3+4 @ $900,000 ($11,612/acre)

• Productive Farmland • Highly Tillable Tracts • Woods Providing Hunting & Recreational Opportunities • State Road 16 Highway Frontage • Investigate Home Site Potential • 2023 Crop Rights Available • Offered in 4 Tracts or any Combination • Ranging from 28.5+/- to 49+/- Acres


Wednesday, March 1st from 2PM-4PM (CST)
Wednesday, March 8th from 2PM-4PM (CST)

Meet a Schrader Representative at Tracts 3 & 4 on the road off SR 16.


From 3 3/4 miles south of Rensselaer on US 231 at the intersection of US 231 and SR 16, go west on SR 16 for 2 miles to Tract 1 on the south side of SR 16. Tract 2 is south of Tract 1 on Jordan Road (CR 780 W) and Tracts 3 and 4 are a short distance west of Tract 1 on the north side of SR 16.


Knights of Columbus
325 E Vine St., Rensselaer, IN 47978
From downtown Rensselaer at the Jasper County Courthouse head northeast for 2 blocks on US 231 (Washington St.). Turn left on US 231 (N. McKinley Ave.) and go approximately .3 mile to E. Vine St. (E. Vine St. is the first street south of the railroad tracks). Turn east on E. Vine St. and go 1 block to auction site.


Tract 1: 39± ac Productive soils and mostly all tillable. This tract has road frontage along State Road 16 and Jordan Road (CR 780 W) is east of the property.

Tract 2: 38± ac Productive soils and nearly all tillable. This tract has 3 acres in CRP that expires 9-30-26. Frontage on CR 1050 S and Jordan Road (CR 780 W) is east of the property.

Tract 3: 28.5± ac Productive soils, nearly all tillable and frontage along SR 16.

Tract 4: 49± ac Productive soils with 29.28 tillable acres per FSA. Consider the hunting and recreational opportunities that the wooded area in the northwest part of the tract offers. Beautiful Carpenter Creek also winds through this area. Also investigate this tract for a potential home site. This tract has frontage on SR 16.

NOTE: Tracts 3 and 4 will be sold subject to any existing rights with respect to the use of the roadway along their common boundary (which is not currently maintained by the Jasper County Highway Department per a representative of the Highway Department). If not sold together, Tracts 3 and 4 will be subject to and have the benefit of a new ingress/egress and utility easement to be created within a 50 foot wide corridor (25 feet on either side of the approximate centerline of the roadway).

Immediate Pre-Closing Available on Cropland with Additional 10% Down Payment. Corn stalks fall vertical tilled - Contact Auction Managers regarding fall chemicals applied

REAL ESTATE TAXES: 2021 payable 2022:

  • Tracts 1 & 2 (1 Tax ID #) $908.02 Drainage Assessments: $138.02
  • Tracts 3 & 4 (1 Tax ID #) $692.58 Drainage Assessments: $133.72

  • Cropland - 136.63 acres (Includes 3 acres in CRP)
  • Corn Base 67.7 ac., PLC Yield 167
  • Soybeans Base 65.93 ac., PLC Yield 43
  • CRP - 3.0 acres (Annual pymt. $174.11/acre - Total $522/year) Expires 9-30-26


    Tracts 1-4


    PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts and as a total 154.5+/- 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 Trustee's 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 will be delivered at closing. Immediate access is available for the cropland, prior to closing, if Buyer so elects, for normal spring farming activities, including preparing for and/or planting the 2023 crop, soil testing, fertilizer application and/or tillage. If Buyer elects to have access prior to closing, Buyer will be required to deliver an additional 10% down payment (for a total of 20%) and sign a Pre-Closing Access Agreement.

    REAL ESTATE TAXES: Seller shall pay all 2022 real estate taxes due and payable in 2023. Buyer shall assume any taxes thereafter. Buyer shall assume any ditch and drainage assessments last due without a penalty 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.

    CONSERVATION RESERVE PROGRAM: Buyer of Tract 2 shall assume the existing Conservation Reserve Program (CRP) contract(s) obligations and shall timely sign all documents required by the FSA office in connection therewith. Any penalty, repayment and/or owner-ineligibility after closing shall be the responsibility of the Buyer. All allocations of the annual contract payments shall be prorated by the FSA office in accordance with its usual practices.

    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 and 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 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.

    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.

    AGENCY: Schrader Real Estate & 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.


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