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    5491 Cord Pl Auburn, IN 46706

    Sponsored
    For Sale
    $19,500,000

    306-Acre Mixed-Use Development, Court Sale

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Exceptional opportunity to acquire the Heron Lake Development, a 306-acre mixed-use property in DeKalb County, Indiana, near Auburn (zip code 46706). This unique project boasts a 102-acre private all-sports lake and is zoned C3. The development is partially complete, with Phase 1 finished and Phase 2 underway before the owner's 2021 bankruptcy filing. Currently, 10 residential lots have been sold, leaving 26 unsold lots in the completed phase. Completion of Phases 2 and 3 would add 108 fully developed lots, resulting in a total of 213 potential residential units. However, 105 lots require infrastructure completion before sale. This court-ordered sale presents a significant investment opportunity. Extensive due diligence materials are available for review upon request. The asking price for this substantial land holding is $19,500,000. Interested parties should be prepared to provide proof of financial capability and execute a Non-Disclosure Agreement.

    Property Features for 5491 Cord Pl

    General Information

    Property type
    Mixed-use properties
    Lot Size
    13,329,360 SF

    HighLights

    • Partially completed mixed‑use development.
    • Features a 102‑acre private all‑sports lake.
    Property Profile Location Intelligence

    Current Use by Public Records

    D.A. Brown Engineering ... Engineering Consultant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    DeKalb
    State
    Indiana
    Longitude
    -85.0746841
    Latitude
    41.3313833

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    FAQs

    What type of property is this?
    Mixed-use property - 306-Acre Mixed-Use Development, Court Sale
    Where is this mixed-use property located?
    The property is located at 5491 Cord Pl Auburn, IN.
    What is the asking price?
    The asking price for this property is $19,500,000.
    What are key features of this property?
    This property features: Partially completed mixed-use development.; Features a 102-acre private all-sports lake.;
    Request Owner's contact information
    5491 Cord Pl Auburn, IN 46706
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    Auburn, IN 46706
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5491 Cord Pl Auburn, IN 46706
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