Discover an exceptional investment opportunity in historic downtown Fort Madison, Iowa, with this commercial property featuring two storefronts totaling 4,624 sq. ft., as well as four 1-bedroom and one 2-bedroom upstairs apartments showcasing original hardwood floors and built-ins awaiting refurbishment. The main floor offers high tin ceilings and original woodwork, creating a versatile space ideal for retail, offices, a restaurant, or showrooms. Both buildings have a newer membrane roof, ensuring durability and reduced maintenance costs. An adjoining graveled lot provides ample parking or potential for an outdoor venue, enhancing its appeal for various business opportunities. This property combines income-generating potential with historic charm, making it a rare find in downtown real estate. Don’t miss out—contact us today to explore this unique opportunity! Auctioneer’s Note: Formerly known as Faeth’s Cigar Store, this property was an iconic downtown neighborhood bar and sporting goods business, offering tremendous potential for revitalization. The apartments, unoccupied since the 1990s, provide great income opportunities with restoration. Additionally, grants and funding may be available through Downtown Revitalization Programs from the State of Iowa. We strongly encourage all interested parties to contact the Auction Company for a private showing. The auction will be conducted online only, allowing each bidder to conveniently participate using an electronic device from anywhere! Terms: $10,000 earnest money deposit due at the end of the auction with the remainder due on or before February 24, 2025. The seller will provide a current abstract at their expense. Real Estate sells “as is, where is”. Sale is not contingent on Buyer’s financing or any other contingencies. Sale is subject to Seller’s confirmation. Real Estate Taxes: Taxes will be prorated to the date of closing. Reservations: Faeth’s Neon building sign, floor safes, 1933/34 World’s Fair Chicago mahogany & marble bar along with matching marble wall & art deco wall sconces, bar stools, Lozier shelving and all other personal property Inclusions: Any remaining personal property at the time of closing Closing: Closing will take place on or before February 24, 2025. The balance of the purchase price will be payable at closing by guaranteed check or wire transfer. Possession: At closing upon payment in full. NO REAL ESTATE BUYERS PREMIUM! WILLIAM R. FAETH lll – SELLER FEHSEKE LAW OFFICE ATTORNEY FOR THE SELLER