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Thu, Feb 27, 6:00 PM
Madison County, Indiana

Owner: Cullison Farms

SOLD FOR $1,365,000

• 167+/- Acres offered in 4 Tracts • Excellent Brookston & Crosby Soils • Tillable Cropland (2020 Crop Rights) • Pattern Tiled (tract 1) • 1031 Exchange Opportunity • Woods for Hunting or Potential Building Site • ONLINE BIDDING AVAILABLE You may bid online during the auction at 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. • Auctioneers Note: Call auction manager for more detailed maps or meet a Schrader Rep. at the inspection dates on Tract 1.

Sat., January 25 & February 8 from 9-11am, Meet a Schrader Rep. at Tract 1

From the intersection of S.R. 13/S.R. 28 in Elwood, Go West on S.R. 28 approx. 1 mile to 1000 W. (County Line). Turn left (South) & go approx. 1/4 mile to Tract 1 & continue South to get to Tracts 2, 3 & 4.

St. Joseph Center (St. Joseph Catholic Church), 1306 South A. St., Elwood , IN 46036

Tract 1: 40± ac of productive tillable cropland with road frontage on 1000 W. Excellent Brookston & Crosby Soils that are pattern drained. Excellent Weighted Corn Index of 162.7. City Water is located at the Northwest corner of the property.
Tract 2: 45± ac of tillable cropland with road frontage on 1000 N & additional frontage on 1000 W. This tract has some tile drainage installed, call for detailed map. Predominate soil types are Brookston Silty Clay Loam & Crosby Silt Loam.
Tract 3: 11.5± ac of Woods. Great potential building site or hunting with road frontage on 1000 W. Good mix of Hardwoods.
Tract 4: 70.5± ac with approx. 62 tillable. Tract features good quality Brookston Silty Clay Loam & Crosby Silt Loam soils. Good drainage outlet with some tile already installed. Road frontage on 1000 N & 1000 W.


  • Tract 1 (Click to enlarge)

  • Tracts 2-4 (Click to enlarge)


  • Tract 1
  • Tracts 2-4


PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts & as a total 167+/-acre unit. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations & 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 cashiers 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 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 a Corporate Warranty Deed(s).

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

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Seller shall pay all 2019 real estate taxes due & payable in 2020. Buyer shall assume any taxes thereafter. Buyer shall assume any ditch & drainage assessments due after closing.

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 with auction personnel. Further, Seller disclaims any & 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 & proposed boundaries are approximate & 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 & 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 & sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

STOCK PHOTOGRAPHY: Some photos are for illustrative purposes only & were not taken on the auction property.

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 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.