Author Topic: North Judson army base for sale  (Read 2856 times)

indrr

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North Judson army base for sale
« on: April 10, 2006, 11:21:59 AM »
I'm not sure if anybody at the Hoosier Valley Railroad Museum in North Judson knows or would care about this, but there is an Army Reserve base for sale there in town.  It is south and east of the museum on the east edge of town, and adjancent to the former C&O tracks, which I think are part of the museum.  It has 3 buildings on 3.5 acres.  It might be good for a bigger museum, storage, and/or a maintenance facility.

Anyway, it's going for a decent price, so maybe someone might be interested:

http://www.auctionrp.com/auctions2/default.cfm?action=itemInfo&id=541
Nathan Bilger
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CIOR

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Re: North Judson army base for sale
« Reply #1 on: April 10, 2006, 07:06:42 PM »
Yes, it was noticed almost immediately by those inside the museum.  I am sure the $$$$ end of it wouldn't fit the museum.  The C&O belongs to the town, operated by the CKIN, the Erie is owned and operated by the museum.  

Rich(Guest)

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Re: North Judson army base for sale
« Reply #2 on: April 11, 2006, 07:57:29 AM »
The asking price is anything but reasonable, nearly 10 times what it is actually worth in North Judson.  The town itself turned it down when the Govt was going to sell it to the town for a dollar.

Rick

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Re: North Judson army base for sale
« Reply #3 on: April 11, 2006, 08:50:40 AM »
About the price, unless my local paper made a misprint or property is really really cheap in North Judson, the highest bid so far is 35,000 dollars.  10 grand per acre is very cheap.  Where I live an acre goes for about 25-65 grand depending on what part of the county and the view of course.   They did not list the asking price though.  That was just the highest bid and they did not say who it came from.

indrr

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Re: North Judson army base for sale
« Reply #4 on: April 11, 2006, 10:07:46 AM »
Just checked...the current bid is $70,000.  That's up from $35,000 yesterday morning.  The high bidder is "markbail".  He seems to really want it as he is the one bidding things up.

When you figure you get 3 structures in ok condition in town on 3+ acres, that's not a bad price.  If it was just farmground, it'd probably be a few thousand an acre.  But when you figure the zoning is probably industrial or commercial and utilities are on site, the value jumps tremendously.

In any case, $70K is probably way too high for the HVRM's budget.  $35K seemed more plausible.
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Rich(Guest)

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Re: North Judson army base for sale
« Reply #5 on: April 12, 2006, 08:26:29 AM »
Ten thousand an acre is certainly not cheap in North Judson.  Two thousand to three is more reasonable.  Useable commercial buildings have remained vacant for years in this town and are being torn down on a regular basis due to lack of intrest of doing anything with them.  Useable buildings with highway frontage have sold in the 40's.  Also, the former army base has asbestos issues which is why the town turned it down for a dollar.  The company handling the sale was claming it was appraised for $370,000 which is completely insane.  There is a very nice former lumber yard  with more buildings, more space, and in excellent shape for sale right on 10 in North Judson for less than HALF that and nobody is buying it either.   North Judson just does not have high property values.  The base is also on a dead end street behind a bunch of low income apartment buildings, not exactly a prime location.

Rick

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Re: North Judson army base for sale
« Reply #6 on: April 12, 2006, 11:31:41 AM »
370,000 plus asbestos removal.  Somebody has to be smokin something.  Too bad it is in an area like that.  Something nice might move in and probably be vandalized within weeks.  It would be nice to see a railroad museum use that space but the price sounds way too high.

indrr

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Re: North Judson army base for sale
« Reply #7 on: April 12, 2006, 01:57:13 PM »
Wow...I didn't realize North Judson was so down economically.  That's just depressing.

$370,000 if the property was in the Indy metro area would be under-valued.  I guess that area of the state just doesn't have very high property values.





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Rich(Guest)

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Re: North Judson army base for sale
« Reply #8 on: April 12, 2006, 07:58:24 PM »
The one big hope for North Judson is the Hoosier Valley Railroad Museum.  Tourism might just save an otherwise dying town.