REAL ESTATE AUCTION - 90+/-ACRES OFFERED IN 4 TRACTS IN WHITLEY COUNTY, INDIANA

10705 CR 850 W, South Whitley, IN 46787 - Whitley County, Indiana

Owner: Gene Shepherd, Lorene Dotson, Christopher Shepherd and Nickolas Shoemaker Wed, Jan 28, 2026 EASTERN

AUCTION IS OVER

TOTAL SOLD: $1,475,000

Tract(s): 1	@ $675,000	($16,875/acre)
Tract(s): 2-4	@ $800,000	($16,000/acre)

• TILLABLE FARMLAND • HUNTING & RECREATIONAL LAND • COUNTRY HOMESTEAD

OPEN HOUSE/INSPECTION DATES

Wednesday January 7, 2026 from 4-6pm
Monday January 12, 2026 from 4-6pm

PROPERTY LOCATION

10705 CR 850 W, South Whitley, IN 46787
From the intersection of SR 114 & SR 105, take SR 114 West 1-1/2 miles to CR 850 W then North 1/4 mile to Tracts #2, 3 & 4. Continue North 1/2 mile to CR 1000S then travel West 1/4 mile to Tract #1.

AUCTION LOCATION

The Gardens Event Center
11758 N SR 13, North Manchester, IN 46962

PROPERTY DESCRIPTION

Country homestead with 4 bedrooms and 1 bath on 90+/-acres offered in 4 tracts.

TRACT DESCRIPTIONS

Tract 1: 40± ac with road frontage on CR 1000S. Approx. 29+/- acres of productive tillable farmland with primarily Blount & Pewamo soils. 11+/- acres of wooded recreational hunting ground complete this tract.

Tract 2: 37± ac with frontage on CR 850W. This tract offers tillable farmland with Blount, Glynwood, Morley Haskins and Pewamo soils. Beautiful recreational land and wetland create a great wildlife habitat.

Tract 3: 3± ac COUNTRY HOMESTEAD with frontage on CR 850W. This turn of the century home has been well cared for. The home has 4 bedrooms, 1 bath and attached 2-car garage. There is a 54'x42'x12' pole barn and a 22'x30' drive-thru corn crib. Plenty of room for storage and hobbies.

Tract 4: 10± ac of mostly tillable land with frontage on CR 850W. Lots of possibilities. Investigate the potential.

TRACT MAP(S)

Tract 2-4

Tract 1

AREA MAP(S)

PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts and as a total 90+/- 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 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.

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).

DEED RESTRICTIONS: The following deed restrictions shall apply if the property sells in multiple tracts: All homes must be built to the Indiana 1 & 2 Family Dwelling Code. (This would exclude all mobile homes and typical doublewide modular homes.) The minimum square footage (exclusive of garages, basements and porches) on single story homes shall be 1,400 square feet. The minimum square footage on 1-1/2 story homes shall be 1,600 square feet. The minimum square footage on 2 story homes shall be 1,800 square feet. All homes must have no less than a 5/12 roof pitch and no less than a two-car, attached garage.

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 Whitley County Health Department.

CLOSING: The targeted closing date will be approximately 30-45 days after the auction.

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Seller will pay the 2025 taxes payable in 2026. Buyer will pay all of the 2026 taxes due in 2027 and thereafter.

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.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

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 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. Combination purchases will receive a perimeter survey only.

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.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.