• 75 Additional Mineral Right Acres Only • Productive Armiesburg, Vincennes & Sylvan Soils • Tracts from 14-81+/- Acres • Tillable & Wooded Acreage • Excellent Hunting • Potential Building Sites
LAND AUCTION 595 +/- ACRES OFFERED IN 12 TRACTS IN PIKE COUNTY, INDIANA PLUS 75+/- ACRES OF MINERAL RIGHTS
Pike County, IN
Owner: Sendelweck Trust/Carey et al Tue, Nov 22, 2022 EASTERNAUCTION IS OVER
TOTAL SOLD: $3,513,000
| Tract(s): 1+6 | @ $1,010,000 | ($6,833/acre) |
| Tract(s): 2+3 | @ $580,000 | ($5,301/acre) |
| Tract(s): 4 | @ $205,000 | ($4,288/acre) |
| Tract(s): 5 | @ $270,000 | ($3,417/acre) |
| Tract(s): 7 | @ $165,000 | ($6,395/acre) |
| Tract(s): 8 | @ $430,000 | ($6,417/acre) |
| Tract(s): 9+10 | @ $470,000 | ($9,215/acre) |
| Tract(s): 11 | @ $380,000 | ($5,783/acre) |
| Tract(s): 12 | @ $3,000 |
OPEN HOUSE/INSPECTION DATES
Friday, October 28th from 11am-1pm
Wednesday, November 9th from 11am-1pm
Meet a Schrader Representative at tract 6
PROPERTY LOCATION
Tracts 1-6 - From the Jct of SR 56 & SR 57 at Petersburg, take SR 56 west 5.3 mi. to N CR 500 W, turn right .6 mi. to CR 550 N turn left to Tracts 4,5 & 6. Continue 1.75 mi. to CR 700 W turn right, go 1.5 mi. to Tracts 1, 2 & 3.
Tracts 7 & 8 - From the Jct of SR 56 & SR 57 at Petersburg, take SR 56 west 5.3 mi. to N CR 500 W, turn right .6 mi. to CR 550 N turn right 250' & immediately left on CR 550 W go .7 mi. to CR 600 N turn right .5 mi. to Tracts 7 & 8.
Tracts 9 & 10 - From the Jct of SR 56 & SR 57 at Petersburg, take SR 56 west 4.8 mi. to CR 475 W turn right travel .5 mi. to Tracts 9 & 10.
Tract 11 - From the Jct of SR 56 & SR 57 at Petersburg, take SR 56 west 3.7 mi. to CR 375 W turn right, go 1.7 mi. to Tract 11.
Tract 12 MINERAL RIGHTS ONLY! - Follow directions of Tract 1-6, Tract 12 is directly west of Tract 6 across CR 550 N.
AUCTION LOCATION
Pike County Fairgrounds 4-H Building
1211 W SR 56, Petersburg, IN (Behind Hornady Park)
TRACT DESCRIPTIONS
Tract 1: 81± ac Productive Armiesburg & Stendel Soils
Tract 2: 60± ac Productive Armiesburg & Stendel Soils
Tract 3: 49.4± ac Combine Tracts 1,2 &3 for 186+/- Tillable Acres in One Field
Tract 4: 47.8± ac Mostly Woods, Food Plot Area, an Excellent Hunting Tract
Tract 5: 79± ac A Combination of Tillable & Woods, Marketable Timber Potential, Excellent Hunting
Tract 6: 66.8± ac Nearly All Tillable, Abundant Road Frontage, Princeton & Vincennes Soils
Tract 7: 25.8± ac Nearly All Tillable Armiesburg Soils
Tract 8: 67± ac Armiesburg & Vincennes Soils
Tract 9: 37± ac Potential Building Site, Good Elevation, Scenic Woods, Small Pond
Tract 10: 14± ac All Tillable, Abundant Road Frontage, Great Potential for Multiple Building Sites
Tract 11: 67.4± ac Mostly Tillable, Armiesburg & Vincennes Soils
Tract 12: 75± ac **MINERAL RIGHTS ONLY** Selling Mineral Rights Only, Refer to Aerial Tract Map
TRACT MAP(S)
ACREAGE CHART
AREA MAP(S)
PROCEDURE: The property will be offered in 12 individual tracts, any combination of tracts & as a total 595+/- acre unit plus 75+/- acres w/ mineral rights only. 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 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 Sellers' acceptance or rejection.
EVIDENCE OF TITLE: Seller shall provide an owner's title insurance policy in the amount of the purchase price.
DEED: Tracts 1 through 11, Seller shall provide Warranty Deed(s). Tract 12 will be conveyed by Mineral Deed.
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) & Seller.
POSSESSION: Possession will be at closing subject to the 2022 farm lease.
REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning w/ the 2023 taxes due in 2024 & thereafter.
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.
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.
MINERAL RIGHTS: All mineral rights owned by the seller shall be conveyed.
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.
