Commercial Real Estate Auction

BURLINGTON, IOWA
Located at 1201 South Main Street, Burlington, IA 52601

Bidding Opens: Tuesday, March 30^th      

Bidding Closes: Tuesday, April 6, 2021 at 3PM

Open House on Monday, March 22^nd from 1-3PM

THREE BAY AUTOMOTIVE SHOP & GARAGE ON CORNER LOT

• 27’x41’ automotive shop with (3) 10’x10’ overhead doors and a 22’x16’ office & ½ bath, built in 1938
• Approx. 41’x51’ detached garage with 9’x10’ overhead door, built in 1935
• 0.583 acre corner lot with concrete parking area
• Zoned C-2

Not included:LP tank, 3 vehicle lifts, Air compressor, All attached & unattached automotive equipment & shelving.
Included: Any item present on the day of the real estate closing.

Real Estate Terms:

Terms:10% down payment on April 6, 2021.  Balance due at closing with a projected date of May 21, 2021, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of May 21, 2021.

Real Estate Taxes:  To be prorated to date of possession on the basis of the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years.

Real Estate Taxes – Tax Parcel 16-04-363-016
Net                        $1,280
Assessed Value:    $59,000

Special Provisions:

• This online auction will have a 5% buyer’s premium.  This means the buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.
• Down payment is due on the day the bidding closes and signing of the contracts will take place through email and electronic document signatures.
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
• Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.
• If in the future a site clean-up is required, it shall be at the expense of the buyer.
• The buyer acknowledges that buyer has carefully and thoroughly inspected the real estate and is familiar with the premises. The buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the condition of the real estate.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Don’t miss the Timed Online Auction

of the Vehicles & Automotive Equipment

Rings 1-3 - Located at 1201 South Main Street, Burlington, IA 52601
Rings 1-3 -  Loadout: Thursday, April 8^th - 9AM - 4PM and Friday, April 9^th - 9AM - 2PM

Bidding Opens: Tuesday, March 30^th

Bidding Closes: Tuesday, April 6, 2021

RING 1 - Cars, Cube Van, Trucks & Camper

RING 2 - Lifts, Air Compressor & Shop Equipment

RING 3 - Golf Cart, Riding Mowers, Oils, Tires & More

RING 4 - Mobile Home, Hand Guns, Furniture & Household Items

Delbert S. Holtkamp Estate
Farmers & Merchants Bank & Trust – Executor
Kelli S. Johnson – Trust Officer
Sara L. Haas – Attorney for Estate

For information contact Nate Larson at Steffes Group,
319.385.2000 or 319.931.3944

TERMS: As with any auction all items sell as-is with no guarantees or warranties of any type. Descriptions, photos and statements made or offered by sellers or auction staff are deemed correct but are not guaranteed. You are responsible for your own physical inspections, due diligence and any bids placed.