NORTHBROOK, lll., Aug. 4, 2020 /PRNewswire/ -- Hilco Real Estate, LLC announces the date of September 3, 2020 as the qualifying bid deadline for 1,145± acres of prime quarry land located in Campbell County near Newcomb, Tenn. This property has substantial limestone and sandstone reserves with 100% of the mineral rights included in the sale. The location allows for easy access with over four miles of frontage along Interstate 75, its own dedicated interchange, Exit 156, which leads directly into the property, as well as frontage along State Highway 297.
Proven limestone and sandstone reserves make this property ideal for mining. Water is accessible through numerous natural springs and more than three miles of the Elk Valley River run through the property. Additionally, there is over three miles of Norfolk Southern rail frontage. All sandstone geological tests, available for review in Hilco Real Estate's data room, well exceed TDOT specs for non-skid asphalt surface and RR ballast material.
Alternatively, this property is also a great location for an RV Park, ATV resort, or private hunting grounds, with an excellent road and drainage system already installed throughout the site.
Jeff Azuse, senior vice president for Hilco Real Estate stated, "Rarely does a land site of this size become available with such a large amount of verified limestone and sandstone reserves. When you add in the direct access to Interstate 75, access to the Norfolk Southern rail line, and the abundance of water available, you have a trifecta of what is needed for a successful mining operation."
The qualifying bid deadline is September 3, 2020 at 5:00 p.m. CDT. To participate in this offering, interested parties should review the due diligence information, terms of sale and requirements located on the web page, and submit a bid by the deadline date. Participating groups will be notified if a bid qualifies for the next phase of the sales process. This sale is subject to court approval.
For further information on the property, an explanation of the sale process, sale terms or to obtain access to due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.
About Hilco Real Estate
Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.
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SOURCE Hilco Real Estate