Spencerville, IN - DeKalb County, IN

Owner: Kandy Schwandt Dowd & Bruce Barone Mon, Mar 25, 2024 EASTERN


TOTAL SOLD: $1,550,000

Tract(s): 1-4 @ $1,550,000 ($19,375/acre)

• Gorgeous Potential Building Sites • Productive Tillable Land • Woods for Hunting & Recreation • Private Farm Sites! • Potential Immediate Organic Farm

This farm has been in the same family since 1920. They have taken pride in their stewardship of the property w/ the use of conservation practices over many years. This property offers many possibilities from home & farm sites to hunting & recreation, to continued conservation practices!! Take advantage of this opportunity to purchase a very hard to find property! Craft your bidding to your needs via the multi-combination bidding process!


Monday, March 4th from 5-7pm & Saturday, March 16th from 10am-1pm
Or Call Auction Manager for walk-over inspections (260.410.1996)


Located in Newville Township, just 1 mile east of SR 101 & 1/4 mile north of Allen County line & just 7 miles from Harlan!


Spencerville Community Center
5629 CR 68, Spencerville, IN


Tract 1: 8.5± ac This tract offers a gorgeous potential building site! It is a grassed opening nestled within a wooded border on all sides. The bordering woods to the south & east is a drain which provides for heavy deer traffic. The terrain is high towards the road & slopes down to the drain making for a potential walk out sight!!

Tract 2: 44.5± ac There is a 7+/- acre raised opening behind the trees which offers another beautiful potential building site!! The tract then opens up to the large tract of tillable acres. The tillable acres have been in Conservation Reserve Program for several decades. The CRP Contract has expired last year, allowing for Buyer(s) to do w/ it as desired! Potential for immediate Organic Farming! Per Dekalb County FSA office, it potentially could be re-enrolled in another CRP program.

Tract 3: 10± ac "SWING TRACT" It lies between the Tract 4 woods to the south & an adjoining woods to the north. Tract would be a great food plot location for either, or combine w/ Tract 2 for the balance of the tillable land. Tract can be bid on only by an adjacent land owner or in combination w/ either Tracts 2 or 4.

Tract 4: 17± ac This tract will have access via a 100ft owned access from the road. This has the potential for a very private building site or a great hunting & recreation property! There are 7+/- acres of woods. There are 3+/- acres of tillable land included to the west for a great food plot site or potential open home site! There are some mature trees within the woods for some potential income. The woods are enrolled in Classified Forest!


Tracts 1-4


PROCEDURE: The property will be offered in Four (4) individual tracts, any combination of tracts & as a total 80+/- acre unit. There will be open bidding on all tracts & combinations, SUBJECT TO SWING TRACT RULES, during the auction as determined by the Auctioneer. Bids on tracts, tract combinations & the total property may compete. The property will be bid in a manner resulting in the highest total sale price.

DOWN PAYMENT: 10% down payment at close of the 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, & 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. The terms of this agreement & any addendum are non-negotiable.

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

DEED: Seller shall provide Warranty Deed(s).

PERIMETER DRAIN TILE EASEMENT: Easement access will be provided over tracts in this property for perimeter drain tile outlets if perimeter drain tile outlets beyond each individual tract are required by the Dekalb County Health Department.

CLOSING: The balance of the real estate purchase price is due at closing, which is targeted to take place approximately 30 days after the auction, on or before April 30, 2024.

POSSESSION: Buyer(s) shall receive possession at closing.

REAL ESTATE TAXES: Real estate taxes will be pro-rated to the date of closing.

DITCH ASSESSMENTS: Buyer shall pay all ditch 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 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.

TRACT MAP(S) & ACREAGE: All tract map(s), tract acreage, dimensions & proposed boundaries are approximate & have been estimated based on current legal descriptions and/or aerial photos. They are not provided as survey products & are not intended to depict or establish authoritative boundaries or locations.

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 Seller's option & sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

BUILDING SITES: For purposes of building sites, all tracts are being offered as a non-reviewed sell-offs by the Dekalb County Plan Commission. It will be the Buyer's responsibility to apply for any Platting & Building permitting required by the Dekalb County Plan Commission, Dekalb County Building & Health Departments.

EASEMENTS: All real estate is being sold subject to any existing recorded easements.

AGENCY: Schrader Real Estate & Auction of Fort Wayne, LLC & 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.