Lot # : 1 - Lakefront on Fox Lake - Offered in 3 Tracts!

Live Webcast Auction
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Price Realized:
500,000.00 USD
Local Pickup Only
Reserve Not Met
Price Realized 500,000.00 USD
Date Sold 2025-10-11T00:00:00
Angola, IN 46703
Date(s)
9/26/2020 - 10/11/2025
Auctioneer Information
Catalog

Bidding Notice:

Thank you for registering with Scheerer McCulloch Auctioneers, Inc.

Auction Notice:

All online bidding permissions will be considered pending until verbally approved by auctioneer. Auctioneer recommends phone bids. A pre-signed purchase agreement must be submitted within 48hrs in advance prior to auction day on Sat, Oct 11, 2025.

Information
Lot # 1
Group - Category Real Estate - Commercial Properties
Lead Lakefront on Fox Lake - Offered in 3 Tracts!
Description
Once in a lifetime opportunity to own amazing 3 Tract lakefront parcel containing 13,000+ sqft 4 unit (8 bed, 4 bath) apartment building, 10 car garage (all w/ R5 high-density multifamily zoning), beautiful countryside & 321’ of frontage on (skiing) Fox Lake—so much potential! Prime location SE of I-69 & US-20 intersection just outside Angola, easy access to major highways plus convenient shopping, dining & groceries in town w/ all benefits of country—fresh air, surrounded by nature & stunning waterfront views! Note: Tract 1 contains apartments (condo conversion zoned R5) & half acre on lakefront for total 6.9 acres & 321' of gorgeous lakefront. Tract 2 is 1.75 acres to south of apartments. Tract 3 is the combination of Tracts 1 & 2 (8.65 acres total). Fox Lake is picturesque body of water where you can enjoy fishing, boating & swimming. Property is nestled on far western side of lake which means it will have perfect views of sunrise over water. Sure to wow from moment you arrive, apartment building has generous paved parking lot in addition to 4 garage bays w/ concrete floor. Outside dimensions of center building are 60’ x 50’ netting 2,850 sqft per floor, allowing for 10 vehicles in ground level garage. Space above garage is not finished, just waiting & ready for you to bring it to life! It features a wall of lakefront windows & can be turned into a communal space, office, another apartment—sky’s the limit! Apartments are tidy & well maintained w/ split 2 bedroom floor plan & one bath each. The apartment building is in great shape & has been well maintained from outside in. All 4 apartments are move-in ready w/ some variation in stages of updates. For example, 1 apartment has newer floors, some bathrooms have been updated, one apartment has stainless appliances, etc. All have open concept main living space w/ full waterfront views, full kitchen & bath w/ tub/shower combo. So many options for this property w/ space for new construction or build out, there’s plenty of space to go big! Convert to condos (8-12 units) or build the mega mansion of your dreams w/ sparkling blue lake mere steps away, a relaxing & serene setting all year long! Trine Zoellner 18 hole golf course abuts north shore of lake. Are you ready to carve out a slice of history & make your mark on this lake? Whether you’re looking for an investment property, more rental units, or a big chunk of land to create your ideal lakefront escape—this is not just a must-see, it’s a must experience! Tract 1: Apartments (condo conversion zoned R5) & half acre on lakefront for total 6.9 acres & 321' of gorgeous lakefront. Tract 2: 1.75 acres to south of apartments Tract 3: Combination of Tracts 1 & 2 (8.65 acres total). OPEN HOUSES: Saturday, September 27th @ 10 AM – 11:30 AM Saturday, October 4th 10 AM – 11:30 AM
Name Lakefront on Fox Lake, Angola, IN - 3 TRACT AUCTION
Auctioneer
Scheerer McCulloch Auctioneers
Type Live Webcast Auction
Date(s) 9/26/2020 - 10/11/2025
Auction Date/Time Info
LIVE Webcast Auction opens at 10:00 am EST on Saturday, October 11th. At this time you can bid LIVE in real time over the phone (with auctioneer pre-approval) OR attend the auction onsite to place your bids.
Preview Date/Time 2 Public Open Houses: Sat, Sept 27th & Oct 4th @ 10 am - 11:30 am. Showings also available through MLS Showing Time app. For more info contact us at 260-441-8636.
Checkout Date/Time Closing within 35 days.
Location
1045 S West Fox Lake
Angola, IN 46703
Buyer Premium Buyers Premium: 2.5%
Description
Auctioneer: Scheerer McCulloch Auctioneers, Inc. Lakefront Parcel, 13,000 SQ FT, 4 Unit Apartment Building, 10 Car Garage, 321 Ft Lake Frontage on FOX LAKE - OFFERED IN 3-TRACTS! All online bidding permissions will be considered pending until verbally approved by auctioneer. A pre-signed Purchase agreement must be submitted within 48hrs in advance prior to auction day on Sat, Oct 11, 2025. Type: Webcast Auction - Onsite & Pre-Approved Online Registration Checkout Date/Time: Auctioneer will forward fully executed purchase agreement and deposit $35,000 earnest money. Closing within 35 days. Webcast Auction opens at 10:00 am EST on Saturday, October 11th. At this time you can attend the auction onsite to place your bids OR place your phone bids (with auctioneer pre-approval) Live Auction Location: Held at 1045 S West Fox Rd, Angola, IN 46703 2 Public Open Houses: Sat, Sept 27th & Oct 4th @ 10 am - 11:30 am. Showings also available through MLS Showing Time app. For more info contact us at 260-441-8636. Real Estate Terms: Buyer Brokers welcome (contact auctioneer for details). $35,000 down day of auction, balance on closing. Buyer(s) to pay winning accepted bid price plus a 2.5% buyer's premium (2.5% of winning bid) due at closing. Property sold subject to confirmation of the owner. Property sold as-is, where-is. Property sold for cash. (The sale of this property may be financed; however, the sale of this property IS NOT CONTINGENT to financing approval). The information stated in this brochure are the opinions of the sellers, Scheerer McCulloch Auctioneers, Inc., and its agents, however, the decision to bid on the real estate property is entirely up to the individual bidders based on their own individual inspections, research and opinions. All statements, measurements, zoning and tax information are from reliable sources, however, are not guaranteed to be accurate. Statements made day of auction takes precedence over any and all previous oral or written matter. Real estate closing within 35 days of auction. *Real estate taxes: Real estate tax information stated indicates what the current owner is required to pay and is merely a guideline (the new buyer's real estate taxes may or may not be the same as what the current owners is required to pay). Real estate taxes prorated to date of closing. Buyers Premium: 2.5% of winning bid due at closing. Earnest Money Deposit: $35,000
Real Estate Terms: All online bidding permissions will be considered pending until verbally approved by auctioneer. Buyer Brokers welcome (contact auctioneer for details). $35,000 down day of auction, balance on closing. Buyer(s) to pay winning accepted bid price plus a 2.5% buyer's premium (2.5% of winning bid) due at closing. Property sold subject to confirmation of the owner. Property sold as-is, where-is. Property sold for cash. (The sale of this property may be financed; however, the sale of this property IS NOT CONTINGENT to financing approval). The information stated in this brochure are the opinions of the sellers, Scheerer McCulloch Auctioneers, Inc., and its agents, however, the decision to bid on the real estate property is entirely up to the individual bidders based on their own individual inspections, research and opinions. All statements, measurements, zoning and tax information are from reliable sources, however, are not guaranteed to be accurate. Statements made day of auction takes precedence over any and all previous oral or written matter. Real estate closing within 35 days of auction. *Real estate taxes: Real estate tax information stated indicates what the current owner is required to pay and is merely a guideline (the new buyer's real estate taxes may or may not be the same as what the current owners is required to pay). Real estate taxes prorated to date of closing.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 50,000.00 2,500.00 USD
50,000.01 - 80,000.00 5,000.00 USD
80,000.01 - 9,999,999.99 1,000.00 USD
Currency USD
Buyer Premium Buyers Premium: 2.5%
Payment Terms
Real Estate Terms: Buyer Brokers welcome (contact auctioneer for details). $35,000 down day of auction, balance on closing. Buyer(s) to pay winning accepted bid price plus a 2.5% buyer's premium (2.5% of winning bid) due at closing. Property sold subject to confirmation of the owner. Property sold as-is, where-is. Property sold for cash. (The sale of this property may be financed; however, the sale of this property IS NOT CONTINGENT to financing approval). The information stated in this brochure are the opinions of the sellers, Scheerer McCulloch Auctioneers, Inc., and its agents, however, the decision to bid on the real estate property is entirely up to the individual bidders based on their own individual inspections, research and opinions. All statements, measurements, zoning and tax information are from reliable sources, however, are not guaranteed to be accurate. Statements made day of auction takes precedence over any and all previous oral or written matter. Real estate closing within 35 days of auction. *Real estate taxes: Real estate tax information stated indicates what the current owner is required to pay and is merely a guideline (the new buyer's real estate taxes may or may not be the same as what the current owners is required to pay). Real estate taxes prorated to date of closing.
***Payments will be taken at the property. All other payment arrangements must have preauthorization from auctioneer. Payments accepted: cash or wire transfer only. Scheerer McCulloch reserves its rights and remedies to recoup its fees. Closing: Within 35 days