For sale via Secured Creditors desiring to sell Leasehold Estate on Leased land with Merchantable Title to all fixed assets, machinery and equipment. Property underwent significant site improvements in 2014, but the facility never came into production.
Property Rights: A Leasehold Estate on leased land with Merchantable Title to all fixed assets, machinery and equipment.
Real Estate: Assets are situated on a 10-acre tract of land located at Logansport, Indiana. The land is a long-term lease with the Winamac Southern Railway Company. The lease started on July 25,2013 with a minimum annual lease of $5,000. The lessee can earn back a rebate of $30 per inbound car of freight to a minimum of $1 per year rent. For any shortfall of less than 200 inbound cars ($6,000) The lessee is responsible for the difference. Initial term is 15 years with a 15-year extension. See Appraisals supplementary data section of the full lease details.
Site: 10.0 acres, more or less, of leased land. Additional 7.0 acres on highway frontage including commercial office and warehouse consisting of two (2) fee simple parcels are negotiable in the purchase or lease arrangement.