CHAMPAIGN & CLARK COUNTY LAND AUCTION

Description

CHAMPAIGN & CLARK COUNTY

LAND AUCTION

838 Acres ♦ Two Farms

Wednesday ♦ November 11 ♦ 4:00 PM

The Farms Sold to 5 Bidders

for a total of $4,275,000 ($5,100/Acre)

Tracts 1&6: $2,050,000 ($5,529/Ac)

Tract 2: $525,000 ($4,978/Ac)

Tract 3: $70,000 ($2,795/Ac)

Tract 4 (House): $130,000

Tracts 5&7: $1,500,000 ($4,524/Ac)

Farm Locations

FARM A: 7927 Mechanicsburg-Catawba Road (at Urbana-Lisbon Rd/SR 56), Mechanicsburg, OH (Goshen Twp). From I-70 just east of Springfield, take SR 56 (Exit 72) northwest 8 miles to property. Also, from Mechanicsburg take SR 4 southwest ½ mile to south on Mechanicsburg-Catawba Road.

FARM B: 4689 Old Troy Pike, Urbana, OH. From I-70 west of Springfield, take US 68 (Exit 52) north and then SR 41 west to first right (north) onto Upper Valley Pike. Take Upper Valley Pik (turns into Valley Pike at County Line Road) north 8 miles to west onto Old Troy Pike.

Auction Location: Champions Center Expo on the Clark County Fairgrounds, 4122 Laybourne Road, Springfield, OH. From I-70 just west of Springfield, take Exit 59 (SR 41) and proceed to the west on-ramp. Turn right off of ramp onto Laybourne Road.

A rare opportunity to purchase sizable farmland tracts in the fertile area of southern Champaign and northern Clark Counties. Join us for the offering of two beautiful and diverse farms, featuring productive soils, mature timber, and land masses not often available in the area.

Vince and Katherine Demana were lifetime lovers of the agriculture industry in Clark and Champaign Counties as well as successful business owners. Since their deaths their two children, Nick and Teresa, have continued the operation of the family’s Benjamin Steel Company and the management of the family’s farming operations. We are excited to have the opportunity to represent the family as we offer these two beautiful and strong producing farms.

FARM A

A beautiful, slightly rolling 297.4-acre farm with loads of frontage on both Mechanicsburg-Catawba Road & SR 56. Good soils throughout with great natural drainage, including well-maintained sod waterways, and 240 acres tillable. Includes approximately 20 acres of mature wooded area – good timber possibilities.

Tract 1: 161.4 acres at the intersection of Mechanicsburg-Catawba Rd and SR 56. Includes total frontage of nearly 1 mile and approximately 149 acres tillable.

Tract 2: 105.5 acres with rolling topography and approximately 89 acres tillable

Tract 3: 25.1 acres with easy access from SR 56 and approximately 20 acres good, mature wooded area. Super possibilities for hunting and home site.

Tract 4: 5.4-acre lot with 2-story frame home including 3 bedrooms, 1 bath, & over 1500 square feet of living area; older frame barn, & several other good outbuildings. Excellent country location just minutes from I-70, Springfield, Mechanicsburg, and Urbana.

FARM B

A super, well-maintained and managed 540.9-acre farm with good frontage and access from both Old Troy Pike and SR 55. Includes approximately 356 tillable acres of gently rolling land, accented with well-maintained sod waterways. Also includes approximately 150 total acres of wooded land with year-round creek – great for sporting activities and timber possibilities. A beautiful and productive farm with loads of possibilities!

Tract 5:206.5 acres on Old Troy Pike, including over 2,500’ of road frontage and approximately 172 tillable acres. Also includes over 20 acres of wooded land. A great, productive farm tract with some good home sites for future income-production.

Tract 6: 209.3 acres on SR 55 with additional deeded access from Rhodes Road. Includes approximately 187 tillable acres and additional sod driveway on east part of tract.

Tract 7: 125.1 acres of wooded and creek property with easement access from both Old Troy Pike and Rhodes Road. Good quality hardwoods throughout this tract and a year-round creek providing one of the best hunting locations in the area. See Certified Forester analysis on the web.

CLICK "DOCUMENTS" TAB ABOVE FOR COPY OF AUCTION BROCHURE.

REAL ESTATE SALE TERMS

Bidding Procedure: The properties will sell to the highest bidder(s) via the Multi-Parcel Auction Method and subject to confirmation of the Seller.  

Acceptance of Bid Prices: The successful bidder(s) will sign a Confirmation of Sale Agreement at the auction site immediately following the close of bidding. Bidding IS NOT CONDITIONAL UPON FINANCING.

Down Payment: Purchaser(s) will deposit 10% of purchase price as down payment with the Auction Company on the date of auction upon signing of Confirmation of Sale Agreement; balance due at closing.

IRS Section 1031 Tax Deferred Exchange: The Seller envisions using all or part of the proceeds from the transaction(s) for the completion of an IRS Section 1031 tax deferred exchange of like-kind property. Seller does not expect that this will inconvenience Purchaser(s), but Purchaser(s) will agree to comply with all reasonable requests related to the administration of the Section 1031 transaction.

Real Estate Taxes: Taxes will be prorated to date of closing using long proration method. Purchaser(s) will be responsible for CAUV recoupment due to change in land use, if applicable.

Closing Date: Between December 15, 2015, and December 31, 2015, time being of the essence. Purchaser will pay customary portion of closing costs at closing. Closing(s) will be conducted by Martin, Browne, Hull & Harper PLL, in Springfield, Ohio, unless otherwise agreed to by Seller & Purchaser.

Possession: Date of closing with tenants in possession rights reserved to harvest 2015 crops if necessary. Purchaser(s) may take possession of tillable acreage (Tracts 1, 2, 5, & 6) prior to closing for the sole purpose of preparing fields for 2016 crop by remitting an additional 5% non-refundable earnest money upon signing of Confirmation of Sale Agreement. Any Purchaser(s) electing to take possession according to these terms will agree that the performance of any work and application of inputs will be at Purchaser’s sole risk and that Purchaser will not be compensated for such costs if Purchaser fails to close on the transaction according to the terms of the contract.

Survey & Easements: Seller will provide a new survey for each tract conveyed. Tract 7 (Farm B – Old Troy Pike/SR 55) will be the beneficiary of two easements allowing access from both Old Troy Pike (through Tract 5) and Rhodes Road (through Tract 6).

Agency: Sheridan & Associates, Auctioneers, Real Estate Broker, Appraisers, LLC and its representatives are Exclusive Sales Agents for the Seller.

Disclaimer & Absence of Warranties: All information contained in this brochure and all related materials is subject to the terms and conditions outlined in the Confirmation of Sale Agreement.  Announcements made by the Auctioneer at the time of the Auction will take precedence over any previously printed or oral information. The property is sold on an "AS IS, WHERE IS" basis, and no warranties or representations, either expressed or implied, concerning the property are made by the Seller or the Auction Company. Each bidder is responsible for conducting his/her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate, but is subject to verification by all parties relying on it. Neither the Seller nor the Auction Company assumes liability for its accuracy, errors, or omissions. Conduct at the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and the Auction Company reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, legal capacity, etc. All decisions of the Auctioneer are final.

GRIP GROUP II, Ltd. - Owner