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Price Real Estate & Auction Service to Sell 440 Acres to Highest Bidder at Absolute Multi-Parcel Land Auction in Chillicothe, Ohio

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CHILLICOTHE, Ohio, Oct. 16, 2012 (GLOBE NEWSWIRE) -- Price Real Estate & Auction Service (www.priceauction.biz) announces the multi-parcel land auction of 440 acres in Chillicothe, Ohio, on Saturday, November 17, 2012, at 11:30am local time, according to Steve Hummel, auction manager.

"This property has been in the Rybolt family for three generations," said Hummel. "This is the first time it's been on the market in well over six decades, and we will sell it absolute to the highest bidder, regardless of price."

Located at 775 Lowery Lane in Union Township, Ross County, the property is offered in 11 tracts, in combinations and as a whole. Tracts range in size from approximately 5 acres to 94 acres. Currently 220 acres of the property is in active agricultural production.

"This acreage is nicely located just north of town with lots of road frontage for tremendous development potential, as well as productive tillable farm land, wooded acreage with saleable timber, recreational land and beautiful home sites with lovely views," explained Hummel.

The largest tract is approximately 94 wooded acres with saleable timber situated adjacent to a 750-acre State of Ohio wildlife area.

"This tract would make excellent hunting or recreational land," noted Hummel. "We have another tract where the original two-story 1838 brick home and large barn with massive beams are located. The buyer could potentially salvage and reclaim some of those historic building materials for a new home construction on this excellent 15 acre home site. "

"We also have a 16 acre tract that adjoins the North side of the VA Hospital with good visibility from SR 104," he added. "There may be potential for commercial development by savvy investors."

Property inspections conducted from the old brick house on tract #7 at 775 Lowery Road are scheduled for October 28 and November 11, from 1pm to 3pm local time, or by appointment. The auction will be conducted off-site at the Ross County Fairgrounds, 344 Fairgrounds Road in Chillicothe.

Prospective bidders must register prior to bidding. Broker registration is encouraged. A commission of one percent of selling price is offered at closing to the broker of the properly registered successful buyer. For more information, visit www.priceauction.biz or call (740) 649-9634.

About Price Real Estate & Auction Service

Headquartered in Chillicothe, Ohio, Price Real Estate & Auction Service specializes in Ohio real estate auctions and services to support that focus.

The Price Real Estate & Auction Service logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=15257

CONTACT: Media Contact: Steve Hummel transitions@horizonview.net 740.649.9634

Source:Price Real Estate & Auction Service