GLENDALE, Ky., May 28, 2014 /PRNewswire/ -- More than 272 acres of farmland -- including riverfront land, potential home sites, barns and other assets -- will be part of the June 28 auction of property that served as the former home of Glen Dale Children's Home in Glendale, Ky. Tranzon Asset Advisors is marketing the property and managing the auction.
The auction will begin at 10 a.m. Eastern Saturday, June 28, at the property, 2125 Gilead Church Road, Glendale, Ky. Tranzon personnel will be available to guide inspections at 1 p.m. Sunday, June 22.
"A lot of people are familiar with the home's facilities, which are being sold. But for those seeking land to farm or develop, the focus will likely be on the land, which is located just one mile from historic Downtown Glendale and offers incredible views, mature trees and frontage on the Nolin River," said Edward D. Durnil, president at Tranzon.
The property also neighbors the 1,551-acre CSX-certified megasite in Hardin County, widely regarded as a major economic driver for the area.
The agricultural land, which is more than 70 percent tillable, is being sold in tracts ranging from 3 acres to 47.1 acres. "By selling in smaller tracts, we open up the auction to a wider number of individuals, who may make offers on any combination of parcels depending on their needs," said Durnil. "Most of the tillable land runs along the Nolin River, providing a good source of water for irrigation. The farmland tracts range from 32 acres to 47 acres and are currently planted in corn and soybeans under an agreement with one year remaining, so the buyers will receive income for the 2014 crop year," he said.
Land includes six tracts along Gilead Church Road. Most of the buildings that were used for the Children's Home are located on a single 47-acre tract.
"The Children's Home saved the lives of many abused and abandoned children over the years, but now that the home has a new facility, these buildings are being sold to provide an opportunity for someone else. With some refurbishments, someone might consider these for a school, retreat or training center or other uses. We see this as an opportunity for these facilities to gain a new life," said Durnil.
Details are available by visiting Tranzon.com or calling 270-769-0284.
Tranzon is a national leader in real estate auction sales. The company offers a range of products and services designed to help institutions, trustees or individuals effectively manage their real estate holdings. Its regional offices are headquartered in Elizabethtown, Ky., with nearly 30 satellite offices from coast to coast conducting more than 1,000 auction sales per year.
For more information:
Carl Carter, 205-823-3273
- Real Estate