Name: ABSOLUTE 43 RIVER & LAKE LOTS AUCTION - 66+/- ACRES ON 43 LOTS IN ELKHART COUNTY, INDIANA
Start: 2019-10-01T18:00:00-04:00
Location: RV/MH Hall of Fame and Museum/Northern Indiana Event Center

Auction result

Total Sold: $2,188,160

Tract(s)	Sold for	Per acre
1-16	$1,003,600
18+41-43	$116,480
19+30-40	$280,800
20+21	$176,800
22	$57,200
23	$69,680
24+25	$176,800
26+27	$166,400
28+29	$140,400

Own property nearby?

These are real results from this sale, not estimates. Ask Robert Mishler and Dean Rummel, who managed this auction, what your property would bring in today's market. There is no obligation.

Ask about my property or call 800-451-2709

43 River & Lake Lots - 66+/- Total Acres
Fabulous Water Front Views!
St. Joseph River Front Lots
Lot sizes .5+/- to 5+/- acres in size
Excellent Location in the City of Elkhart!
Minutes from Old US 20/Bypass
Sells Regardless of Price!
Exclusive Lake Front Lots on Quail Island
St. Joseph River - Elkhart City
Private Lake - Quail Island
ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.

Open house / inspection dates

Saturday, Sept. 7 from 10am-1pm
Sunday, Sept. 8 from 2pm-4pm
Wednesday, Sept. 18 from 4pm-6pm
Saturday, Sept. 21 from 10am-1pm
Sunday, Sept. 22 from 2pm-4pm
Watch for Signs!

Property location

St. Rd. #19 and W. Lexington Ave. Elkhart, Indiana, go west 800 ft. on Lexington Ave. to Haines Dr. or Lexington Landing located on south side of Lexington Ave directly across from Tom Naquin Chevrolet and Zeigler Ford auto dealership.

Auction location

RV/MH Hall of Fame and Museum/Northern Indiana Event Center, 21565 Executive Pkwy, Elkhart, IN 46514

Property description

In the 1950s Percival Haines bought this property and in the 60s and 70s dredged the river, dug a lake and shaped the mainland development called Lexington Landing and Quail Island. He, and his father before him, had a contracting company that built many of the roads, bridges, sewer and water lines in the greater Elkhart area. This project was nothing new for the Haines family. The property is owned by a partnership of Percivals 5 sons. The oldest living son is 91, and the families have decided that it is now time to sell all of the remaining lots as well as the the undeveloped property. They have chosen Schrader Auction Company to represent them to market this truly unique and beautiful asset so close to everything and yet private and tranquil.

Tract descriptions

Tract	Acres	Description
1	0.8±	QUAIL ISLAND River Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
2	0.6±	River Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
3	0.8±	Lake Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
4	0.6±	Lake Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
5	0.6±	Lake Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
6	0.6±	Lake Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
7	0.6±	Lake Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
8	0.6±	Lake Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
9	0.7±	Lake Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
10	0.7±	Lake Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
11	0.7±	Lake Frontage - Water/Sewer - Excellent Location - Unique Opportunities - Fabulous Water Front Views
12	6.0±	Lake Frontage - Water/Sewer Access - Endless Opportunities - Condos, Villas, High End Homes - River & Lake Frontage
13	4.1±	Lake Frontage - Water/Sewer Access - Endless Opportunities - Condos, Villas, High End Homes - River & Lake Frontage
14	5.9±	River Frontage - Water/Sewer Access - Endless Opportunities - Condos, Villas, High End Homes - River & Lake Frontage
15	4.3±	River Frontage - Water/Sewer Access - Endless Opportunities - Condos, Villas, High End Homes - River & Lake Frontage
16	1.1±	River Frontage - Water/Sewer - Endless Opportunities - Condos, Villas, High End Homes - River & Lake Frontage
17		River Frontage - Water/Sewer WITHDRAWN
18	3.0±	River Frontage - No Water/Sewer
19	0.4±	LEXINGTON LANDING River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
20	0.5±	River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
21	0.6±	River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
22	0.5±	River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
23	0.5±	River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
24	0.5±	River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
25	0.5±	River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
26	0.6±	River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
27	0.5±	River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
28	0.5±	River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
29	0.6±	River Frontage - Water/Sewer - Very Rare Offering - Excellent Location - Unique Building Opportunity - Fabulous Water Front Views
30	0.4±	Waterbend Dr. - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
31	0.5±	Waterbend Dr. - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
32	0.4±	River Pointe Dr. - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
33	0.5±	River Pointe Dr. - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
34	0.5±	River Pointe Dr. - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
35	0.8±	River Pointe Dr. - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
36		River Pointe Dr. - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
37	3.6±	Stillwater Lane - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
38	0.5±	Haines Dr. - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
39	0.5±	Haines Dr. - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
40	0.6±	River Pointe Dr. - Water/Sewer - Established Sub-division - Great Views - Shovel Ready to Build - Beautiful Neighborhood
41	0.7±	Haines Dr. - Water/Sewer - Planned Unit Development
42	0.8±	Haines Dr. - Water/Sewer - Planned Unit Development
43	0.8±	Haines Dr. - Water/Sewer - Planned Unit Development

Interactive map

Tract map

Area map

Terms

PROCEDURE: The property will be offered in 43 individual tracts, any combination of tracts and as a total 66+/- acres. 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.

BUYERS PREMIUM: A 4% Buyers Premium will be added to the final bid price and included in the contract purchase price.

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 cashiers 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 owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide Warranty Deed(s).

DEED RESTRICTIONS: See the Declaration of Restrictive Covenants for Haines Lexington Landing - Quail Island document on our website at www.schraderauction.com. Or contact the sale manager for details.

CLOSING: The targeted closing date will be approximately 30 days after the auction with the balance of the real estate purchase price is due at closing.

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning with taxes due in in Fall 2019 and pro rated 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 Bidders 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 Sellers option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

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 persons 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.

NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information.