MERRILLVILLE, Ind., Oct. 18, 2013 /PRNewswire/ -- Approximately 1,739 acres of land in northwestern Indiana – most of it cropland – will be offered at auction Tuesday, Nov. 12, with Schrader Real Estate and Auction Company managing the sale.
"This will be a very significant event, because there has been an undersupply of larger Indiana farms relative to the market demand," said R.D. Schrader, president of the auction company.
The land – all in Lake County – is being offered in four groupings, with 24 tracts ranging from 3.6 to 172.7 acres.
"Essentially, we have four blocks of contiguous land, and three of those blocks are being offered in tracts. Taken as a whole, about two-thirds of the land is tillable. There is also some nice recreational and wooded land, and some of the land also has development potential. Notably, it includes a 149-acre development tract less than 40 miles from Chicago. There may also be some value in the timber on several of the tracts," said Schrader.
Schrader said the properties are well suited to the company's method of offering land in tracts to allow greater bidder participation. "Different bidders have different needs and budgets. A farmer or investor looking for a specific type of tillable land can bid on the combination that best suits his needs, without having to worry about the wooded land next to it. The one looking for some recreational land can buy just that. And we have some of all of those in these properties," he said.
The auction will begin at 5:30 p.m. Tuesday, Nov. 12, at the Saint Elijah Serbian American Hall, Merrillville. Individuals seeking additional information may visit www.schraderauction.com or call 800-451-2709.
Schrader Real Estate and Auction Company, based in Columbia City, is a leading auctioneer of agricultural land throughout the United States.
For more information:
Carl Carter, 205-823-3273
SOURCE Schrader Real Estate and Auction Company