131 ACRE CHANDLER SPEEDWAY


Presleyland Speedpark, LLC, the recorded owner of the real estate set for sale by auction in Cause No. 87D01-1707-PL-001065 has filed a petition for Chapter 11 bankruptcy protection.

Therefore, the sale has been halted pursuant to the Automatic Stay.

LIVE ON-SITE AUCTION
Began: 03/20/19 at 10:00 AM CDT
Ended: 03/20/19 at 12:00 PM CDT
Location: Chandler Community Center, 405 Community Center Drive, Chandler, IN 47610
INSPECTION
Began: 02/26/19 at 12:00 PM CST
Ended: 02/26/19 at 1:00 PM CST
Location: William Wilson Auction Realty, 2425 US 41 N Suite 204, Evansville, IN 47711

INSPECTION
Began: 03/05/19 at 12:00 PM CST
Ended: 03/05/19 at 1:00 PM CST
Location: William Wilson Auction Realty, 2425 US 41 N Suite 204, Evansville, IN 47711


ABSOLUTE AUCTION – 131 ACRE CHANDLER SPEEDWAY

MARCH 20, 2019 AT 10 AM CT

CHANDLER COMMUNITY CENTER

405 COMMUNITY CENTER DRIVE, CHANDLER, IN 47610

William Wilson Auction & Realty, Inc. has been authorized to sell the real estate located at 1099 Inderrieden Road, Chandler, IN.

DESCRIPTION:

  • 131 +/- AC
  • 1/8 MILE DRAGSTRIP, OVAL TRACK, AND OTHER IMPROVEMENTS
  • ZONED C-4 COMMERCIAL
  • DEVELOPMENT POTENTIAL
  • SOLD BY ORDER OF THE COURT

 

AUCTION LOCATION: Wednesday, March 20, 2019 at 10 AM CT

Chandler Community Center

405 Community Center Drive (E Washington), Chandler, IN

 

INSPECTIONS:

Tues, February 26, 12 Noon – 1 PM CT

Tues, March 5, 12 Noon – 1 PM CT

INSPECTION HEADQUARTERS: William Wilson Auction Realty Offices, 2425 US 41 N, Evansville, Indiana

TRACK HISTORY:

(source Drag Strip List: https://dragstriplist.com/in)

Melvin C. Greer, Sr. and Melvin C. Greer, Jr. owned this 1/8th-mile track. It opened for racing probably in 1964 or earlier, called Greater Evansville Raceway. It was located in Chandler, about nineteen miles northeast of Evansville. Among its amenities were wooded picnic grounds with picnic tables. At a race on July 19, 1964, the Evansville Road Knights dragster turned a top speed of 173.07 MPH. On July 9-10, 1966, it hosted the AHRA 1/8th-mile world championships. It is adjacent to a 3/8th-mile oval dirt track. Super Stock racing was popular in the 1970s. John Ramsey, known as the Super Stock king of Evansville, was a frequent winner. On April 11, 1971, Ramsey clocked a run only .07 seconds above the national record. On March 19, 1972, 2,500 spectators saw Ken Holthe of St. Louis beat nine other Pro Stock cars in his ’71 Camaro.  Harold Baker bought the drag strip and oval track in 1976. He decided to close the drag strip operation in 2015, although the oval track still ran, sub-leased to Kevin Bayer. This was perplexing to many racers. In the 1970s and 1980s, Don Meece ran the drag strip for Baker. Baker also leased the track to Bobby Harper for a few years. Jeff Meece, Don’s son, ran the strip from 2000 to 2005.  Don Meece witnessed a fight between two famous drag racers during his tenure:  “I saw Shirley Muldowney punch Connie Kalitta in the pits. They went after each other. I had to break it up. It was interesting, to say the least.” The strip reopened in June 2016 as Greater Evansville Dragway.

VIDEO:

https://youtu.be/vX1x7WdbkM0

PROCEDURE: The real estate will be offered in one (1) tract.  There will be open bidding during the auction as determined by the Auctioneer.  Conduct of the auction and increments of bidding are at the discretion of the auctioneer.  All decisions of the Auctioneer are final.

DOWN PAYMENT: A 10% down payment is due on the day of the auction with the balance due at closing.  The down payment may be in the form of cash, cashier’s check, personal check or corporate check.  Bidding is not conditional upon financing. Bidders should arrange for financing, if needed, and be capable of paying cash at closing.

ACCEPTANCE OF BID: Successful bidder will be required to enter into a Purchase Agreement at the auction site immediately following the close of the auction.  The property will sell at absolute auction, regardless of price.

BUYER’S PREMIUM: A 10% Buyer’s Premium will be added to the high bid to determine the contract sale price.

DEED: Seller shall provide a Sheriff’s Deed conveying title to the property.

CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of the presentation of insurable title.

POSSESSION: Possession of real estate shall be delivered to the buyer at closing.

REAL ESTATE TAXES: The real estate taxes will be the responsibility of the buyer beginning with the taxes due and payable in May 2019, and thereafter.   

ACREAGE: All tract acreages, dimensions, and proposed boundaries outlined on the auction plat and all advertising are approximate and are estimated based on current legal descriptions and/or aerial photos.  Purchaser should make his/her own independent determination of acreage prior to bidding.  

MINERALS: Seller conveys all mineral rights owned.

SURVEY: If a survey is deemed necessary to establish a new legal description, the cost of the survey will be shared 50/50 between the seller and buyer.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this ad and all related materials are subject to the terms and conditions outlined in the Purchase Agreement, which shall take precedence.  The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or WILLIAM WILSON AUCTION & REALTY, INC., including, but without limitations to fitness for a particular use, physical condition, any specific zoning classification, title, location of utilities, assurance of building permits, driveway permits, or water and septic permits. All sketches and dimensions are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property.

SOLD BY ORDER OF THE COURT

All announcements the day of the auction take precedence over printed material or any other oral statements made.

DIRECTIONS TO PROPERTY: Located adjacent to the Town of Chandler at 1099 Inderrieden Road, Chandler, IN.

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