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Farmland minutes from South Bend to be offered in July 23 auction

Farmland minutes from South Bend to be offered in July 23 auction

SOUTH BEND, Indiana (June 23, 2014) - Approximately 525 acres of agricultural land in the Lakeville area of St. Joseph County will be offered at auction Wednesday, July 23, with Schrader Real Estate and Auction Company managing the sale.

The land, about seven miles south of South Bend, is part of the holdings that had been acquired by Robert Newton, co-founder of Hoosier Racing Tire, who died in 2012.

"Mr. Newton was best known for Hoosier Racing Tire and his philanthropic work, but he also had a real passion for farming. This land is being sold because it doesn't fit into the plans of the family," said Gene Klingaman, vice president of the auction company.

The property is being offered in eight tracts, with land tracts ranging in size from 8.5 acres to 148.4 acres. A 5.5-acre tract includes a new 186,000-bushel grain handling system. "The grain handling system, built in 2010, is truly state of the art," said Klingaman.

The land auction will begin at 1 p.m. on Wednesday, July 23, in a building immediately behind the Hoosier Racing Tire Corporate Headquarters in Lakeville on U.S. 31.

A separate auction at 11 a.m. on the same day and location will feature farm equipment, including a 2010 tractor and 2010 combine, as well as other equipment for tilling, planting and harvest.

Schrader personnel will be available on Thursday, June 26, and Tuesday, July 8, to accommodate inspections and provide detailed information.

Online bidding will be available by prior arrangement, allowing qualified remote bidders to watch live video of the auction, view existing bids and enter bids and combinations.

Individuals interested in additional information may call 800-451-2709.

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