SEALED BID AUCTION
Accepting Bids April 15-April 22, 2010 2PM ET

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Bids Under Review

Hichatee Timberlands Bid Information

Click on forms below to download.

bid form fact sheet

Bid Form

 

Fact Sheet

 
letter brochure
Open Letter

 

 Timber Summary

 
contract broker participation form
Contract

 

 Broker Participation Form

 
contract  
Printable Brochure

 

 

Central Bank of Georgia ("Bank") is the owner of a 1,280 +/- acre investment/timberland recreational property known as Hichatee. Hichatee, in its entirety, contains 3 +/- miles on the Kinchafoonee Creek and a historical fish weir. This property has an enormous amount of wild game and recreation, timber, incredible topography, and great soils. Per the timber cruise in May 2007, the total estimated timber value was approximately $1.4M. Hichatee is located in Lee County, Georgia just five miles northwest of Leesburg and also just 20 minutes north of Albany, Georgia. It is located off a paved road, in a very nice neighborhood of newer homes and the other neighboring properties are mainly high quality farms. There is future development potential and there are already draft development conceptual plans done for the property. This property is a perfect candidate for a conservation easement and has excellent "higher and better use" potential.

The Bank is seeking to immediately liquidate this property through a sealed bid auction and has engaged Plantation Auction Group, LLC, an auction firm that specializes in high quality properties, to handle the sealed bid auction.

 

MORE INFORMATION
Jon Kohler
CELL 850-508-2999 - OFFICE 850-907-2076
Jon@JonKohler.com

DIRECTIONS TO PROPERTY
North on US 19 from Albany, past Leesburg. Left on Pinewood Road. Property is on the left. From Albany, GA (20 Min.); From Eufaula (60 miles); From Macon, GA (2 Hr. 15 Min.); From Columbus, GA (2 Hr. 30 Min.); From Tallahassee (2 Hr. 40 Min.); From Atlanta, GA (3 Hr. 20 Min.)

INSPECTION DATES
Starting on Monday, January 4th through Thursday, April 22, 2010. Inspection is by appointment only. Please contact Jon Kohler at 850-508-2999 or 850-907-2076 for appointments. Staffed Open Houses are: Saturday, April 10th and 17th.

BROKER PARTICIPATION
A commission is available to properly registered brokers with a successful buyer according to the guidelines. A Broker Participation form and instructions are available here.

BIDDING OPENS
April 15, 2010

BIDDING DEADLINE
2:00 PM ET, Thursday, April 22, 2010. Copy of Official Bid Form is available here.

NOTIFICATION
The successful Bidder will be notified by 5:00 PM ET, Monday, April 26, 2010. All others thereafter. All bids are confidential and will be opened at the Law Offices of Dale S. Davidson, LLC.

CONTRACT EXECUTION & CLOSING
The successful bidder will be required to enter into a standard real estate contract by Tuesday, April 27, 2010 and submit a 5% earnest money deposit (a copy of the contract is available here).  A 10% Buyer's Premium will be added to the bid price to find the total contract price. Closing to be made within 45 days after contract execution.

CENTRAL BANK OF GEORGIA Intends To Sell This Property To The Highest Bidder But Reserves The Option Of Accepting Or Rejecting Any Or All Bids.

 

Property Highlights:

  • Great Investment/Timber Property with Significant Recreational Opportunities
  • 3 +/- Miles on the Kinchafoonee Creek
  • Significant Timber Value; Approximately $1,100 per acre in the 2007 Timber Cruise
  • Located in Lee County, just Five Miles Northwest of Leesburg, GA
  • Located Just 3± Miles from U.S. 19
  • New Road System Gives Beautiful Views and Access to the Entire Creek
  • Abundant Deer and Turkey
  • Dove Field & Quail Woods
  • Great Fishing, Boating, & Family Recreation on the Creek!
  • In a Great Neighborhood of High Quality Farms or Larger Residential Lots with Newer Homes
  • Development Conceptual Plans Already Drafted for the Property
  • Higher and Better Use Potential