MGW Real Estate Information

The Merrillville Road Property
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Price : $8,350 per acre Sold
County: Lake

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Contact Details -
Mark T. Mommsen  (Agent)
Phone: 815-756-3606
Mobile:  815-901-4269

Property Details
Location: The subject property is located approximately 45 miles southeast of Chicago O'Hare International Airport and within the town of Merrillville. Nearby cities include: Crown Point (1/2 mile south), Hobart (1 1/2 miles northeast), and Schererville (2 miles west).
Frontage: There is approximately 1/16 mile of road frontage on Lincoln Street, 1/8 mile on Merrillville Road, and 1/4 mile on W. 86th Avenue.
Major Highways: Indiana Road 53 is 1/2 mile east, Indiana Road 55 is 1/2 mile west, U.S. Route 30 is 5/8 mile north, and Interstate 65 is 1 1/8 miles east of the property.
Legal Description: A brief legal description indicates The Merrillville Road Property is located in Part of the Northwest Quarter of Section 28, Township 35 North - Range 8 West (Ross Township), Lake County, Indiana.
Total Acres: There are a total of 53.49 acres, more or less, according to the Lake County Assessor's office.
Tillable Acres: There are approximately 50 tillable acres. The property is free of leases and is available for agricultural production.
Soil Types: Major soil types found on this property include: Pewamo silty clay loam, Elliott silt loam, and Markham silt loam.
Topography: The topography of the subject property is level to nearly level.
Climate/Growing Season: Lake County has a humid continental climate, with cool winters and warm, damp summers. The average length of the growing season is nearly 155 days. The average high/low temperatures are around 84 F/64 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, provides 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 $8,350 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. Names and addresses will be provided upon request.
Taxes: The 2014 real estate property taxes totaled $2,273.76. The tax parcel number is #45-112-28-151-001.000-030.
Grain Markets: There are a number of grain markets located within 15 miles of The Merrillville Road Property.
Zoning: The Merrillville Road Property is zoned Residential - Vacant Land (500).
Comments: Excellent location, contiguous to existing developments.
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
Pc Pewamo silty clay loam 18.3 160 2931
El Elliott silt loam 16.2 150 2436
MaB2 Markham silt loam 15.9 130 2062
    Total: 50.4    

TOTAL ACRES - 53.5 acres, more or less
TILLABLE ACRES - 50.4 acres, or 94.2% per FSA figures
CORN YIELD - 147.4 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 138.9 bushels per acre, based on total acres

Disclaimer : Although the information contained in this brochure is considered to be accurate, no representation or warranty to that effect is being made. The information contained herein is subject to verification, and no liability for errors or omissions is assumed. The listing may be withdrawn with or without notice, and the stated price and terms are subject to change without notice or approval. The Seller further reserves the right to reject any and all offers. All inquiries, inspection appointments, and offers must be channeled through the Seller’s Designated Agent.