Lot # : 3 - 830, 832 & 836 Ave G, Ft Madison, Ia

Online Only Auction
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High Bid: 0.00 USD
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Time Remaining: 52d 22h 16m - Wednesday 09:00 AM
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FORT MADISON, IA 52627
Date(s)
11/26/2024 - 1/22/2025
AUCTIONEER INFORMATION
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Bidding Notice:

Property Sells "As Is, Where Is".

Information
Lot # 3
Group - Category Real Estate - Commercial Properties
Lead 830, 832 & 836 Ave G, Ft Madison, Ia
Description
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
Name FT MADISON, IA COMMERCIAL REAL ESTATE AUCTION
Auctioneer
Fraise Auction & Real Estate
Type Online-Only Auction
Date(s) 11/26/2024 - 1/22/2025
Auction Date/Time Info
ONLINE ONLY BIDDING! REAL ESTATE CLOSES AT 10AM ON WED., JAN. 22ND, 2025. PERSONAL PROPERTY STARTS CLOSING AT 11AM ON THE SAME DAY.
Preview Date/Time OPEN HOUSE: WEDNESDAY, JAN. 8TH FROM 11AM- 1PM
Checkout Date/Time Pickup/Removal of Personal Property: All small items must be picked up Friday, January 24th from 12:00PM - 1:00PM. Sign and Bar buyer will have 20 days for removal. Buyer's Premium of 15% will be added to all personal property purchases! All personal property sells "as is, where is". All items must be removed during the designated pickup time - NO EXCEPTIONS or will otherwise be subject to forfeiture without refund!!
Location
832 AVENUE G
FORT MADISON, IA 52627
Buyer Premium 15% BUYER'S PREMIUM- EXCEPT REAL ESTATE
Your registration or bidding on a lot at our auctions constitutes your acceptance and agreement of the following terms and conditions. 1. WARRANTIES & DISCLAIMERS: All items are sold AS IS, WHERE IS, without warranty or guarantees expressed or implied no refund, returns, or exchanges and with all faults. AUCTIONEER AND SELLER EXPRESSLY DISCLAIM AND EXCLUDE THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. Bidders should rely solely on their own inspection of all items prior to the sale and should satisfy themselves as to the usefulness, value and or condition of each item. Seller, Auctioneer and Buyer expressly agree that Buyer is responsible for and agrees to indemnify Seller, Auctioneer and their respective affiliates for any and all damages, losses, expenses, attorney fees, court costs, etc. that arise out of or result from the removal, possession or use of any items purchased at auction or any other claim regarding the use of possession of any asset purchased at this auction. All descriptions are for informational purposes only. Any error in description does not relieve the buyer or his/her agent of their responsibilities - ALL SALES ARE FINAL. Your bid is a binding contract. Once the auctioneer (or bidding platform) indicates an item is sold to bidder a contract has been consummated and the liability of the item(s), including responsibility for payment, loss or damage rests solely with the bidder. Fraise Auction & Real Estate will not be held responsible for internet, computer or other human errors. 2. TERMS: Bidding on any lot regardless of how the bid is presented by the bidder, in person, by absentee, by agent, online or by phone indicates the buyer's agreement to be bound by these terms and conditions. Auctioneer will not be held responsible for any failure to execute a bid for any reason. 3. REGISTRATION / BIDDER REQUIREMENTS: Bidder will register for an auction with a valid credit card that will be billed for online bidders to verify identity. Bidder will complete registration information online and agree to the terms and conditions of the sale before placing a bid. Any questions, ask before bidding please. 4. 15% BUYER'S PREMIUM applies to items purchased on this auction (OTHER THAN REAL ESTATE). You will be charged an additional 15% on top of the amount you bid for each item you are the winning bidder on. For example, if you bid and win an item for $10.00, you will be charged $11.50 at checkout. 5. INVOICE PAYMENT REQUIREMENTS & TYPES ACCEPTED: You agree to make payment for all items purchased within 1 business day of receipt of the invoice. You will receive an invoice via email following the close of the auction, or the next business day if the bidding closes after 5pm or on a weekend. YOUR CREDIT CARD WILL PROMPTLY BE CHARGED FOR YOUR PURCHASES. WE CANNOT ACCOMODATE OTHER TYPES OF PAYMENT. No other forms of payment will be accepted. No items will be released until payment in full is received. All unpaid bidders will be banned from future auctions and prosecuted to the fullest extent of the law. 7. PICKUP DATE & LOCATION: FRIDAY., JAN. 24TH from 12:00 PM - 1:00 PM. Sign and Bar buyer will have 20 days for removal. Buyer's Premium of 15% will be added to all personal property purchases! All personal property sells "as is, where is". All items must be removed during the designated pickup time - NO EXCEPTIONS or will otherwise be subject to forfeiture without refund!! LOCAL PICK UP ONLY: You are responsible to bring your own manpower to move your items. Bring your own boxes, packing material, carts, etc. 8. REMOVAL / STORAGE OF PROPERTY: Buyer assumes all responsibility for removal of purchased items. Auctioneer does not offer these services. If buyer fails to pick up or remove property within the stated time frame, the items become the property of seller and the buyer forfeits the monies paid. We sincerely appreciate your business, Corey D. Fraise, CAI Carrie Fraise Tami Stuekerjuergen Dan Fraise Fraise Auction & Real Estate
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 999.00 1.00 USD
999.01 - 1,999.00 10.00 USD
1,999.01 - 9,999.00 250.00 USD
9,999.01 - 9,999,999.99 1,000.00 USD
Currency USD
Buyer Premium 15% BUYER'S PREMIUM- EXCEPT REAL ESTATE
Payment Terms
Your registration or bidding on a lot at our auctions constitutes your acceptance and agreement of the following terms and conditions. INVOICE PAYMENT REQUIREMENTS & TYPES ACCEPTED: You agree to make payment for all items purchased within 1 business day of receipt of the invoice. You will receive an invoice via email following the close of the auction, or the next business day if the bidding closes after 5pm or on a weekend. YOUR CREDIT CARD WILL PROMPTLY BE CHARGED FOR YOUR PURCHASES. WE CANNOT ACCOMODATE OTHER TYPES OF PAYMENT. No other forms of payment will be accepted. No items will be released until payment in full is received. All unpaid bidders will be banned from future auctions and prosecuted to the fullest extent of the law.
Pickup/Removal of Personal Property: All small items must be picked up Friday, January 24th from 12:00PM - 1:00PM. Sign and Bar buyer will have 20 days for removal. Buyer's Premium of 15% will be added to all personal property purchases! All personal property sells "as is, where is". All items must be removed during the designated pickup time - NO EXCEPTIONS or will otherwise be subject to forfeiture without refund!! REMOVAL / STORAGE OF PROPERTY: Buyer assumes all responsibility for removal of purchased items. Auctioneer does not offer these services. If buyer fails to pick up or remove property within the stated time frame, the items become the property of seller and the buyer forfeits the monies paid.