Adams County, IA
12.04 Acres M/L

2004 200th Street |
Corning, IA 50841 |
Listing #13717

Info
Photos
Attachments

Bid Online

Property Info

Description

**TRACT 4 CHANGES AS OFÂ 11/16/16**

The DOT reserves the right to enter the premises for the purpose of erecting a security fence around described easement for GPS site (see attached exhibit).Â Said right shall terminate upon transfer of patent to Buyer.

Iowa DOT Online Auction (Tract 4) â€“Â Offering 12.04 acres of land and six (6) buildings located just north of Corning, Iowa.Â This site offers multiple storage options and end user possibilities through a variety of building types.Â Buildings include: #1 - 12,576 sq. ft. brick building built in 1976 with thirteen (13) garage stalls and a climate controlled office area. Massive shop area is heated, has power overhead doors and exhaust fans. 1,600 square foot office area features storage, utility room, bathroom and break area.Â A 576 sq. ft. office was added on to the northeast corner of the building in 2006 and features electric heating and cooling.Â #2 â€“ 1,568 sq. ft. pole building built in 1976 with an asphalt floor and a 12 ft. opening.Â #3 â€“ 2,790 sq. ft. hoop building built in 2007 with concrete foundation and fabric roofing.Â #4 - 4,720 sq. ft. pole building built in 1993 with concrete floor and eight (8) garage stalls. Â #5 â€“ 768 sq. ft. wooden building on dock built in 1978.Â #6 â€“ 320 sq. ft. garage built in 2014 with concrete floor and power overhead door.Â **See Attached â€œBuilding and Site Informationâ€ document for more details of the buildings** Â An easement measuring 50 ft. by 100 ft. in the southwest corner of the property will remain for the Iowa DOT to maintain GPS Equipment.Â Site does not currently have a zoning designation and future zoning and property taxes will be subject to the properties use.Â (Contact agent for questions about permitted uses and zoning).Â Property is north of Corning along Highway 148.Â **Please contact agent prior to entering the property.Â Interested parties can view the property at an open house or by appointment:Â Open house is scheduled forÂ Tuesday, September 27thÂ fromÂ 4:00 â€“ 6:00**Â **This is tract 4 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 downtown Corning: Travel north on Highway 148 for 1 mile to 200^th Street. Property is located at the southeast corner of the intersection. Look for signs.

Sign On Property: Yes
School District: Southwest Valley Community District
General Area: North of Corning, Iowa along Highway 148
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.

Please contact agent prior to entering the property. Interested parties can view the property by appointment or at an open house on Tuesday, September 27th from 4:00 – 6:00 PM.

Bid Online

Auction Details

Iowa DOT Online Auction
Tract 4, 12.04 acre site with Various Buildings (Brick, Hoop, Pole and Frame Buildings in Adams Co)
(Locally known as 2004 200th Street, Corning)
Thursday, November 17th, at 4:00 PM Centralâ€‹â€‹

**This is Tract 4 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 17th, 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 Tuesday, September 27th 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 available from 200th Street.

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.