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500 +/- Acres Offered in 9 Tracts - Northwest Indiana Real Estate Auction
Sat, Nov 17, 9:00 AM
Wheatfield, IN - Jasper County

Owner: Harold & Joann Stalbaum Trust

SOLD FOR $3,681,000

Auctioneers Note: Schrader Real Estate & Auction Company take great pride in offering this 500 +/- acres at auction for the Stalbaum Family Trust. This land has been owned by the Stalbaum Family for sometime. It has had been managed with excellent care. It has been no-tilled since 1999. Dont miss this chance to purchase large tracts of land with high efficiency for modern agriculture.

Sunday, October 14, 1-3 PM CST
Sunday, October 21, 1-3 PM CST
Sunday, November 4, 1-3 PM CST

Meet a Schrader Representative on Tract 9

From the intersection of St. Rd. 49 & St. Rd. 10 (east side of Wheatfield, IN), travel north on St. Rd. 49 1 mile to Co. Rd. 1300N, then east (right) approx. 2 miles. Property will be on north side of 1300N. Or approx. 3 miles east of Wheatfield, IN on St. Rd. 10 to Co. Rd. 300E, then 1 mile north to 1300N, then west 1/4 mile to Tract 9. Address: 2682 E 1300 N, Wheatfield, IN 46392.

American Legion Post 406. Address: 17768 N 80 W, Wheatfield, IN 46392. Directions: From the intersection of St. Rd. 49 & St. Rd. 10 Wheatfield, IN, travel west 1/2 mile on St. Rd. 10 to Berma St. (50 W) then south (left) 1/4 mile to auction site.


Tract 1: 47± ac of excellent level productive tillable farmland. Road frontage on both 1300N & 400E.
Tract 2: 131± ac of excellent level productive tillable farmland. This tract has open ditch for drainage or subsurface irrigation. Also includes 38 ft. x 65 ft. pole shed, 7000 bu. grain bin with floor and aeration.
Tract 3: 86± ac of excellent level productive farmland. This tract includes approximately 5 acres of woods. Balance tillable.
Tract 4: 21± ac of wooded land with 60 ft. of owned road access. Great recreation tract of land or income producing timber. (This tract would require a variance to be a building site.) Combine with Tract 3 for 100 +/- acre tract of land with diversity.
Tract 5: 38± ac of Level productive all tillable tract with good drainage access.
Tract 6: 15± ac with Approx. 10+/- acres tillable which are zoned industrial at outer edge of Tefft. The remaining portion is wooded making a nice recreational tract with income potential. Access by owned 20 ft. and 50 ft. excess of 400 E.
Tract 7: 114± ac of level productive farmland. Large percentage tillable. Combine with Tract 9 for 120 acre base farming operation.
Tract 8: 40± ac of level all tillable farmland.
Tract 9: 6± ac farmstead with buildings and grain bins. Two story with bi-level addition, 4 bedroom home. Kitchen has been remodeled with Honey Oak cabinets. Large 14 ft. x 33 ft. formal living or entertaining room. Large 13.5 ft. x 24 ft. recreation room, 2 bathrooms, 8 ft. x 8 ft. office and 12.5 ft. x 16 ft. formal living room. Dont miss your chance for country living at its finest. Hot water wood boiler heat. Tract also includes 28 ft.x 60 ft. concrete block building with concrete floor. 34 ft. x 60 ft. shop building with 15 ft. x 30 ft. lean-to. 26 ft. x 40 ft. converted corn crib building. 40 ft. x 72 ft. Quonset type building. 40,000 bu. grain storage capacity, 2800 bu. wet bin and American 220 grain dryer. Dont miss this chance to start your farming operation or add capacity to existing operation.


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PROCEDURE: The property will be offered in 9 individual tracts, any combination of tracts and as a total 500 +/- 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 cash, 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 Trustees Deed(s).

CLOSING: The balance of the purchase price is due at closing, which will take place within 15 days of presentation of insurable title. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

REAL ESTATE TAXES: Buyer will assume taxes due and payable Spring 2014. Any ditch assessments after closing will be the Buyers responsibility.

POSSESSION: Possession of tillable and wooded land shall be at closing. Possession of Tract 9 grain bins will be September 1, 2013 or at the removal time of the 2012 crops stored, whichever comes first. Seller shall pay Buyer of Tract 9 $500.00 for electric at time of final grain being removed. Possession of the home on Tract 9 shall be at closing and possession of buildings shall be January 1, 2013.

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.