• POTENTIAL BUILD SITES • LAKE ACCESS TO MARL LAKE • HUNTING LAND • EASY ROAD ACCESS • DRIVEWAY PERMITS FOR EACH TRACT • FARMING RIGHTS IN 2027
LAKE FRONT PROPERTY AUCTION - 36.45+/-ACRES OFFERED IN 3 TRACTS IN NOBLE COUNTY, INDIANA
S 250 W, Albion, IN 46701- Noble County, Indiana
Owner: Wayne Edwards, Keith Edwards, & Diane Saggars Thu, Sep 17, 6:00 PM EASTERN
OPEN HOUSE/INSPECTION DATES
Thursday September 3, 2026 from 4-5pm
Saturday September 12, 2026 from 10-11am
PROPERTY LOCATION
S 250 W, Albion, IN 46701
Take SR 33 northwest out of Merriam towards Wolf Lake for 3.5 miles until you arrive at W 200 S. Turn right & continue down the road for a 1/4 mile until you arrive at S 250 W. Turn north & travel up 1/2 mile & the property is located on the west side of the road.
AUCTION LOCATION
Camp Lutherhaven
1596 S 150 W, Albion, IN 46701
PROPERTY DESCRIPTION
Lake access lots on the undeveloped Marl Lake! This 36.45+/- acre property is offered in 3 tracts along South 250 West, just minutes from Wolf Lake, Indiana, & presents an outstanding combination of lake access, rolling farmland, timber & build site potential. Tracts 1 & 2 offer access to Marl Lake an undeveloped 29/- acre natural lake that provides a rare & peaceful setting for those looking to build a lakeside retreat or country home, w/driveway permits already approved through the Noble County Highway Department for all 3 tracts. Tract 3 rounds out the offering w/access to 5+/- acres of timber, creating excellent hunting & recreational opportunities. The property carries 26.4+/- FSA tillable acres currently in cash crop production, offering income potential & farming rights transferring to the new owner beginning in 2027. Whether you are a farmer looking to acquire tillable land, an investor seeking land w/long-term upside, or a buyer ready to build your dream property on the water, this offering has something for everyone. Do not miss your chance to bid on the tract or combination that fits your goals!
TRACT DESCRIPTIONS
Tract 1: 16.4± ac Featuring access to Marl Lake & a peaceful setting along South 250 West. This is the largest tract in the offering & presents an outstanding opportunity for the buyer looking to secure a potential scenic lakeside build site w/ productive tillable land. A driveway permit has been approved through the Noble County Highway Department, making this tract nearly ready for your build timeline. Consider combining w/Tract 2 for a contiguous 26.45+/- acre lakeside holding.
Tract 2: 10± ac Offering exceptional Marl Lake access & providing a more manageable parcel for the buyer seeking a potential lakeside build site. The tract is currently in cash crop production. A driveway permit has been approved through the Noble County Highway Department. Tract 2 sits directly adjacent to Tract 1, making it an ideal addition for the buyer looking to maximize their lake frontage & overall acreage. Consider combining w/Tract 1 for a contiguous 26.45+/- acre lakeside parcel.
Tract 3: 10± ac Offering a mix of tillable land & natural recreational land, w/access to 5+/- acres of timberland. The wooded acreage provides excellent hunting potential & natural habitat, w/Indiana DNR property bordering the tract to the east, adding a layer of privacy. As an added bonus, Williams Lake public access is located directly across the road, putting additional water recreation right at your doorstep. A driveway permit has been approved through the Noble County Highway Department. Consider combining w/Tract 2 for a larger contiguous holding w/lake access.
AREA MAP
TRACT MAP(S)
AREA MAP(S)
PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts & as a total 36.45+/- acres. There will be open bidding on each individual tract, as well as combination of tracts.
DOWN PAYMENT: 10% down payment on the day 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 representation of the Sellers' acceptance or rejection.
DRIVEWAY PERMITS: Driveway permits have been approved by the Noble County Highway Dept. & can be recorded by the buyers of each tract after closing.
DEED: Seller shall provide a Warranty Deed(s).
CLOSING: The balance of the real estate purchase price is due at closing, which will take place on or before 30 days after auction, or as soon thereafter as applicable closing documents are completed by seller.
POSSESSION: At closing subject to tenants crop rights.
REAL ESTATE TAXES: Seller will pay for all of the 2026 property taxes due in 2027.
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 purpose of building sites, it is the buyer's responsibility to check w/the Noble County Planning Commission & Health Departments.
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.
ACREAGE: All tract acreages, dimensions, & proposed boundaries are approximate & have been estimated based on current legal descriptions and/or aerial photos.
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.
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.
