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ONE OF A KIND, HISTORIC REAL ESTATE AUCTION - 28+/- ACRES OFFERED IN 16 TRACTS IN ELKHART COUNTY, INDIANA
Wed, Feb 5, 6:00 PM
Elkhart County, Indiana - Nappanee, Indiana

Owner: Amish Acres LLC

SOLD FOR $4,425,200

• The personal property auction that had been scheduled for March 13th HAS BEEN CANCELLED • 28+/- Acres offered in 16+ Tracts • Round Barn Theatre • 62-Room Inn • Large Restaurant • Kitchens and Bakery • 1+/- mile West of Nappanee • 25+/- miles Southeast of South Bend • 60+/- miles Northwest of Fort Wayne • 100+/- miles East of Chicago • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. 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.

OPEN HOUSE/INSPECTION DATES
Monday, January 6, 9-11am
Wednesday, January 15, 1-3pm
Saturday, January 25, 9am-Noon
Tuesday, February 4, 1-3pm
Meet a Schrader representative at the Round Barn Theatre building.

PROPERTY LOCATION
From the intersection of SR 19 and US 6 in downtown Nappanee, travel west on US 6 one mile to the property.
1600 West Market Street, Nappanee, IN 46550

AUCTION LOCATION
Held On Site

TRACT DESCRIPTIONS
Tract 1: 2± ac potential development site with approximately 220+/- feet of frontage on US 6.
Tract 2: 2± ac SWING TRACT with approximately 220+/- feet of frontage on US 6. This tract must be combined with Tract 1 and/or Tract 3.
Tract 3: 2± ac potential development site with approximately 228+/- feet of frontage on US 6.
Tract 4: 2± ac potential development site with approximately 233+/- feet of frontage on US 6.
Tract 5: 4± ac at the corner of US 6 and Arnott Street, including 19,000+/- sq. ft. under roof and the large paved parking lot. The structure includes The Round Barn Theatre, lobby, greeting barn and meeting house. The theatre features updated lighting (2016), sound, 400 seats, and areas for storage, a shop and box office. The separate meeting room includes stage and lighting. The site has approximately 650 feet of combined road frontage.
Buyer(s) of Tracts 5 and 6 shall receive rights to use the adjoining pond and historic area for events. Contact Auction Company for details.
Tract 6: 3.5± ac site of the restaurant, shops and (2) log cabin buildings. The 23,000 sq. ft. restaurant barn and loft serves over 60,000 meals annually out of its 8,000 sq. ft. kitchen. A second kitchen and a bar on the second floor can service additional seating areas. The log cabins are 2,000 and 1,200 sq. ft. The property also includes the Cider and Grist Mill. Consider the possibilities on this site with 415+/- feet of frontage on Arnott Street.
Tract 7: 1.5± ac including the shop, storage and serving buildings plus a home. The maintenance shop has 3,900 sq. ft. and the food building is 2,600 sq. ft. The home is 1,700 sq. ft. With approximately 362 feet of frontage on Arnott Street, the uses are many.
Tract 8: 2± ac corner lot with approximately 474 feet of combined frontage on US 6 and Arnott Street. The site includes 2 older houses and small buildings. Prime site with access off of both roads!
Tract 9: 2.5± ac including the large storage building and access from US 6. Consider the possibilities of this large 21,450+/- sq. ft. heated building with loading bays and 18 ft. eaves.
Tract 10: 1.5± ac with 2 older houses. 330+/- feet of frontage on Arnott Street.
Tract 11: 1± ac potential development site with 143+/- feet of frontage on Arnott Street.
Tract 12: 1± ac potential development site with 143+/- feet of frontage on Arnott Street. Consider combining with Tract 11 for a 2+/- site with great access.
Tract 13: 3± ac The Inn has 62 guest rooms decorated in the Amish lifestyle, meeting room, kitchen and dining room.
Tract 14: 28± ac Soda & Fudge Shop Building.
FOR REMOVAL
Tract 15: 28± ac Meat & Cheese Building.
FOR REMOVAL
Tract 16: 28± ac Cider & Grist Mill Building.
FOR REMOVAL

PROCEDURE: The Properties will be offered in 16 individual tracts, any combination of tracts, and as a total 28+/- acres. There will be open bidding on tracts, combinations, and the whole during the auction as determined by the Auctioneer. Bids on tracts, combinations of tracts and the total property may compete.

BUYERS PREMIUM: A Buyers Premium of 4% will be charged to the Buyer. The Buyers Premium shall be added to the high bids to obtain the Total Contract Purchase Price.

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, and are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES: All final bid prices are subject to the Sellers acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.

APPROVALS: All tract divisions are subject to Nappanee zoning approvals.

DEED: Seller shall provide a deed sufficient to convey insurance title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

CLOSING: The balance of the purchase price is due at closing, which will take place 45 days after the auction, or as soon thereafter as applicable closing documents are prepared by the Seller. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs relative to the Buyer securing a mortgage shall be paid by the Buyer(s).

POSSESSION: Possession is at closing subject to scheduling of a personal property sale onsite.

REAL ESTATE TAXES: Taxes shall be prorated to the date of closing.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and 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 or where Seller otherwise determines a survey is appropriate. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. Combination purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres on bare land parcels.

EASEMENTS: Subject to any and all existing easements.

BUILDINGS: Tracts 14, 15 and 16 represent two cabins and a barn (with all contents) that may be purchased separately from the Real Estate. Contact Auction Company for information and deadlines for removal.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and 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.

AGENCY: Schrader Real Estate and Auction Company, Inc. and its representatives are exclusive agents of the Seller.

HISTORIC PHOTOGRAPHY: Some photos have been provided by the Seller and represent the property at different times in the past.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verifi cation 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 and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and 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.