Jackson County, IA
10.04 Acres M/L

60255 US Highway 52 |
Sabula, IA 52070 |
Listing #13712

Info
Photos
Attachments

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Property Info

Description

**TRACT 9 CHANGES AS OF 11/16/16**

**DISCLAIMER OF SEPTIC SYSTEM
Per the Time of Transfer Inspection law for the State of Iowa, the septic system for this property has been inspected and tested by a licensed professional. The current septic system for this property has failed the inspection and the septic system will need to be replaced or removed / rendered useless. The Winning Bidder will be assume the cost and responsibility of installing a new septic system and all other scopes of work that apply. At closing, the Winning Bidder will sign one of two forms – a “Binding Agreement of Future Installation” or a “Binding Agreement of Demolition” depending on their choice. This document will be recorded at the Jackson County Recorder’s Office along with the State Land Patent 60-90 days after the close of the auction. Please contact agent/s with any questions or further explanation.

**SURVEY & EASEMENT CHANGES
The survey and easement description has been modified. The Highway Right-Of-Way has been changed to a uniform 50 ft. from the Highway centerline. This changes the Easement area from 100 ft x 107 ft. to 100 ft. x 100 ft. The ingress/egress portion of the easement has expanded from 40 ft. x 25 ft. to 45 ft. to 30 ft. The newest version of this easement is available on the Peoples Company website in an attachment titled "GPS Easement". The DOT reserves the right to enter the premises for the purpose of erecting a security fence around described easement for GPS site. Said right shall terminate upon transfer of patent to Buyer. Please contact agent/s with any questions concerning the easement area.

Iowa DOT Online Auction (Tract 9) – 10.04 acres m/l of land and four (4) buildings located in Sabula, Iowa. This site has a lot of potential with room to expand for anyone looking for storage, workspace or a building site. Buildings include: #1 - 4,520 sq. ft. steel building built in 1970 with six (6) garage stalls and power overhead doors. Building is insulated, has a finished office area, and concrete floors. #2 - 256 sq. ft. shed in 2006 for generator storage. #3 – 576 sq. ft. garage built in 2009 with concrete floor and a power 16 ft. garage door. #4 - 1,568 sq. ft. pole building with a 896 sq. ft. lean-to built in 1970. **See Attached “Building and Site Information” document for more details of the buildings** A ¼ acre easement measuring 107 ft. by 100 ft. along the eastern edge of the property will remain for the Iowa DOT to maintain GPS Equipment. An ingress/egress easement measuring 40 ft. wide by 25 ft. located at the entrance of the driveway will also be in place to allow access to the GPS Easement area. See attachment for easement details. Site is currently zoned A-1 Agriculture. See attachment for Jackson County A-1 Zoning Ordinances. Property is located northwest of Sabula along US Highway 52. **Please contact agent prior to entering the property. Interested parties can view the property at an open house or by appointment: Open house is scheduled for Monday, October 3rd from 4:00 – 6:00** **This is tract 9 of a 9 tract auction that Peoples Company is handling through their online auction service. Contact Agents for more details on this property or how to place a bid online.**

Legal Description

Long legal description on file. Full legal description can be found in the attachments under "Survey with Legal Description". *Full legal description will be taken from the State Land Patent provided by the State of Iowa.

Directions

From Sabula: Travel west on US Highway 52 for 1 mile. Turn north to continue on Highway 52. After 1 mile, property will be located on the west side of the road. Look for signs.

Sign On Property: Yes
School District: Easton Valley Community School District
General Area: Sabula
Online Bidding: Yes
Auction Date: Nov 17, 2016
Possession: Immediate possession will be granted through a Mutual Benefit Lease to be signed by Winning Bidder
Terms: Cash

Additional Info

Please click the "Bid Now" button located at the top right hand corner above the primary property photo to enter the online bidding website and to bid on this tract and the other properties included with this auction. Taxes: Iowa DOT is a tax exempt organization and there will be no tax proration at closing. Property will be added to the tax roll once the property has been transferred to the new owner. Call Agent for Details.

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Auction Details

Iowa DOT Online Auction
Tract 9, 10.04 acre site with Various Buildings (Steel, Pole and Frame Buildings in Jackson Co)
(Locally known as 60255 US Highway 52, Sabula)
Thursday, November 17th, at 4:00 PM Centralâ€‹â€‹

**This is Tract 9 of a 9 tract auction being handled through Peoples Company's Online Auction Service. Properties are located in the Iowa cities of Akron (Plymouth Co), Rock Valley (Sioux Co), Soldier (Monona Co), Corning (Adams Co), Gowrie (Webster Co), Jefferson (Greene Co), Centerville (Appanoose Co), New Hampton (Chickasaw Co), and Sabula (Jackson Co).

Bidding for this auction is currently LIVE and will remain open until bidding ends at 4:00 PM Central Time on Thursday, November 17^th, 2016. A bid placed within 5 minutes of the scheduled close of the auction will extend bidding by 5 minutes until all bidding is completed. If you plan to bid, please register 24 hours prior to close of auction. Under no circumstances shall Bidder have any kind of claim against Peoples Company or its affiliates if the Internet service fails to work correctly before or during the auction.

Please contact agent prior to entering the property. Interested parties can view the property at an open house on Monday, October 3rd from 4:00 – 6:00 PM.

ALL BIDS ARE TOTAL PRICE AND NOT PER ACRE.

Purchase Agreement and Earnest Money:
The Winning Bidder will receive an “Offer to Buy” document from the Iowa DOT shortly after the conclusion of the auction and will serve as the purchase agreement for the tract being purchased. A non-refundable 10% earnest money payment is required upon conclusion of the auction and must be received by Peoples Company within two (2) business days from the day of the auction. Earnest money will need to be received prior to Seller receiving possession of the property (Possession given by signing the Mutual Benefit Lease). The balance of the purchase price will be due on or before Friday, December 9^th, 2016.

Closing and Possession:
Possession will be granted through a “Mutual Benefit Lease” to be signed upon conclusion of the auction by the Winning Bidder for each tract and the Seller. Once the Mutual Benefit Lease is signed and earnest money is deposited, possession of the property will be granted to the winning bidder. This lease will terminate once the State Land Patent is received by the Winning Bidder. Balance of purchase price due and payable on or before the closing date of Friday, December 9^th, 2016. If the balance is not paid on or before closing, the Buyer risks forfeiting the 10% earnest money and cancellation of the Mutual Benefit Lease.

Building Lease:
There are not any current leases or tenants in these buildings or on these sites. Possession will be given once the Mutual Benefit Lease is signed by Winning Bidder and Seller and 10% earnest money has been deposited with Peoples Company Trust Account.

Surveys:
A survey has been completed on this site. See attached survey and legal description under attachments. The State Land Patent will be recorded within 60-90 days from the date of closing.

Title Information:
Title will be granted when the State of Iowa issues a Land Patent Deed approximately 60 - 90 days after the conclusion of the auction. Buyer will not receive an abstract of title. Should a Buyer want an abstract of title and / or a title search completed, it shall be at their sole discretion, responsibility, and expense. Once all monies are received, Buyer should allow for 60-90 days for issuance of the State Land Patent.

Access to the Property:
Access to this property is located on the eastern edge along US Hwy 52.

Other Auction Terms:
This sale is subject to all easements, covenants, leases, and restrictions of record.

All property is sold on an “As is – Where is” basis with no warranties or guarantees, expressed or implied, made by the Auctioneer or Seller.

Seller reserves the right to accept or reject any and all bids.

Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction.