The Crown Point Farm

Description

Location The subject farm is located approximately 55 miles southeast of Chicago and O'Hare International Airport. Nearby towns include Merrillville, 4 miles to the northeast, Winfield, 8 miles east, and Cedar Lake, 7 miles southwest.

Frontage There is approximately 1ǘ mile of road frontage on Indiana 55 (N. Main Street).

Major Highways Interstate 65 is 2 3ǚ miles east, Federal Highway 30 is 1 3ǚ miles north, and Federal Highway 231 is 1 1ǘ miles south.

Legal Description A brief legal description indicates the Crown Point Farm is located in Part of the West Half of Section 32, Township 35 North-Range 8 West, Ross Township, Lake County, Indiana.

Total Acres There are a total of 135.5 acres, more or less, according to the Lake County Assessor's Office.

Tillable Acres There are 111.5 tillable acres according to the Lake County FSA Office.

Soil Types Major soil types found on this farm include Elliott silt loam, Pewamo silty clay loam, Alida loam, and Markham silt loam.

FSA Data The FSA direct corn yield is 111 bushels per acre and the FSA corn base is 61.8 acres. The FSA direct bean yield is 27 bushels per acre, the FSA bean base is 49.5 acres. There are no wetlands and no highly erodible lands.

Topography The topography of the subject farm is level to gently rolling.

Climate/Growing Season Lake County Indiana has a humid continental climate, with cool winters and warm, irriguous summers. The average length of the growing season is nearly 155 days. The average high/low temperatures is around 84 Fኜ F. Annual precipitation averages about 41.5 inches with over two thirds of this coming during the growing season. Snowfall averages about 40 inches per year. This climate, combined with the generally excellent soils in this area, provide a nearly ideal environment for the production of corn and soybeans.

Mineral Rights All mineral rights owned by the seller will be transferred in their entirety to the new owner.

Possession Possession will be given at closing, subject to the terms and conditions set forth in a purchase contract.

Price and Terms The asking price is $19,000 per acre. The owners are seeking a cash sale. A 10% earnest money deposit should accompany any offer to purchase.

Financing Mortgage financing is available from several sources including 1st Farm Credit and local banks. Additional names and addresses will be provided upon request.

Taxes The 2010 Real Estate Taxes totaled $8,049.32. The tax parcel numbers are 45-12-32-151-002, 45-12-32-151-003, 45-12-32-176-005, 45-12-32-176-006, 45-12-32-176-007, 45-12-32-176-008, 45-12-32-176-009, 45-12-32-176-010, 45-12-32-301-003, 45-12-32-326-001, and 45-12-32-326-002.

Grain Markets There are a number of grain markets located within 10 miles of the Crown Point Farm.

Zoning 96.1 acres of the farm is zoned Agricultural, 32.5 acres Residential, and 6.9 acres Commercial.