re: Timber or black walnuts

Something to consider is why a 17 acre tract adjacent to a subdivision with utilities is sitting vacant? It's possible whoever developed the existing subdivision just ran out of money to do the next phase, but I'd question why someone else didn't swoop in to develop it.
You might be looking at a great deal but I'd do some investigating to find out if there are some unknown dealkillers lurking that have kept others away.