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5491 County Road 427 - Heron Lake Development
300 Acres of Commercial Land Offered at $19,500,000 in Auburn, IN 46706
Investment Highlights
- Phase 1 and portion of Phase 2 are already completed
- Privately owned 102-acre all-sports lake
Property Facts
| Price | $19,500,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Commercial |
| No. Lots | 1 | Total Lot Size | 300.00 AC |
| Property Type | Land |
| Price | $19,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Commercial |
| Total Lot Size | 300.00 AC |
1 Lot Available
Lot 1
| Price | $19,500,000 | Lot Size | 300.00 AC |
| Price Per AC | $65,000 |
| Price | $19,500,000 |
| Price Per AC | $65,000 |
| Lot Size | 300.00 AC |
Description
Amazing opportunity to own a mixed-use 300-acre development project in Northern Indiana! This highly unique project includes residential and commercial areas along with a 102-acre privately owned all-sports lake. The project is properly zoned and has the first housing area completed with 10 lots sold and 26 remaining unsold. This is a court-ordered sale being sold under bankruptcy. There is considerable due diligence available for review. Phase I was completed, and Phase 2 had begun, when the owner/developer of the property filed for bankruptcy in 2021. The completion of Phases 2 and 3 would yield 108 fully infrastructure-developed lots. There are 105 lots that need full infrastructure-completion, in order to sell, for a total of 213 collateral units. Interested parties must register with the representing Broker and complete a Non-Disclosure Agreement before any additional information will be provided.
PROPERTY TAXES
| Parcel Number | 17-10-07-300-007.000-009 | Improvements Assessment | $84,200 |
| Land Assessment | $421,200 | Total Assessment | $505,400 |
PROPERTY TAXES
zoning
| Zoning Code | PD & C2 |
| PD & C2 |
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Power Broker David Nugent -
BND Commercial Real Estate
Presented by
5491 County Road 427 - Heron Lake Development
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