Benton County, IA
3.59 Acres M/L

207 Commercial Street
Shellsburg, IA 52332
Listing #17673

Upcoming Auction

Property Info

Description

Sealed Bid Auction - Peoples Company is pleased to offer the Shellsburg, Iowa Grain Elevator to the public via a sealed bid auction. This property offers over 700,000 bushels of storage capacity through multiple bins, silos, flat buildings and the wooden elevator. Bids will be due on Wednesday, July 24th at 5:00 P.M. CST. The C-1 Commercial zoned property in the heart of the City of Shellsburg allows for commercial grain storage or personal grain storage as well as offering multiple outbuildings that could be storage, shop or office space. The 3.69 acres m/l with frontage along SW Commercial Street, SW Grand Avenue, SW Canton Street, and the Iowa Northern Railway is also well suited for redevelopment. Surrounding properties range from commercial businesses and self-storage to residential properties and Wildcat Golf Course to the west. The property is being offered in its entirety, as four individual parcels, or as any combination thereof. Contact Agent for more details.

The Northwest Parcel is 1.35 acres m/l and consists of a large wooden grain elevator, four concrete silos, two metal bins, two unload pits, two grain legs, a horizontal conveyor, an electrical shed, a grain dryer, a 12 ft x 70 ft scale, and the main office building. Storage on the elevator is estimated at 100,000 bushels, the two larger concrete silos are approximately 112,000 bushels each, the smaller concrete silos hold approximately 61,000 bushels each, and the steel bins store approximately 84,000 bushels each. The west grain pit and shed, west grain leg, electrical service and shed, and the conveyor system above the concrete silos was new in 2022. The conveyor system from the silos to the elevator was rebuilt internally at that time. The wooden elevator was built in 1965 and features a covered drive-through pit, thirteen individual bins that hold approximately 7,000 bushels each and three smaller internal bins that hold approximately 2,500 bushels each. The original 680 square foot office was built in 1939 and 600 square foot was added in 1968. The office features a basement, an upstairs conference room, two bathrooms, offices, and has been remodeled as needed over the years. A new drive-through pit enclosed by a 17 ft x 40 ft building was built in 2022 and attached to an all-new grain leg. A new electrical service was also brought in at this time and enclosed in a 15 ft x 22 ft building. This parcel has road frontage along SW Commercial Street, SW Canton Street, SW Grand Avenue and has approximately 520 ft of Iowa Northern Railway frontage.

The Northeast Parcel is 0.49 acres m/l and consists of two large storage buildings. The west building, built in 1966, is a 2688 sq ft grain and fertilizer storage building with a 1748 sq ft warehouse building attached. The east building is a 4784 sq ft warehouse building built in 1952. This parcel is located northeast corner of the intersection of SW Commercial Street and SW Grand Avenue and has approximately 205 ft of Iowa Northern Railway frontage.

The Southwest Parcel is 1.12 acres m/l and consists of three buildings including a quonset and metal building that have both been used for flat storage and the facility's main shop. The quonset building is 40 ft x 120 ft and was built in 1956. The metal grain storage building is 50 ft x 82 ft and was built in 1957. The shop is a 54 ft by 36 ft pole-type building built in 1956. The shop has four overhead doors facing Commercial Street and has a second floor for storage. There is a large open lot area on this parcel where elevator equipment and semis have typically parked creating an excellent opportunity for future building sites or outdoor storage possibilities. This parcel is located at the southwest corner of the intersection of SW Commercial Street and SW Grand Avenue.

The Southeast Parcel is 0.63 acres m/l and consists of two buildings, a post-frame warehouse building, and a metal flat grain storage building. The metal grain storage building is 40 ft x 122 ft and was built in 1958. The post-frame warehouse building is 52 ft x 98 ft and was built in 1977. This parcel is located at the southeast corner of the intersection of SW Commercial Street and SW Grand Avenue.

Open Houses:
Wednesday, June 26th from 11:00 AM to 1:00 PM CST
Sunday, July 14th from 11:00 AM to 1:00 PM CST

Do not miss the opportunity to own this commercial grain facility with limitless potential for storage and business development of all types. The Seller will entertain offers on equipment along with the Real Estate allowing for the opportunity to own a turn-key business. 

Legal Description

NW Parcel:
Lots One (1) through Twenty (20), Block One (1), Railroad Addition to Shellsburg, Iowa.

And also that part of the Chicago, Rock Island and Pacific Railroad right-of-way lying Southerly of a line being 35 feet Southerly of and parallel with the centerline of the Chicago, Rock Island and Pacific Railroad main track and lying Northerly of and adjacent to said Block One (1), Railroad Addition to Shellsburg, Iowa.

NE Parcel:
All of Lots One (1) through Eight (8). and the West 6.1 feet of Lot Nine (9), Block Two (2), Railroad Addition to Shellsburg, Iowa.

And also that part of the Chicago, Rock Island and Pacific Railroad right-of-way lying Southerly of a line being 45 feet Southerly of and parallel with the centerline of the Chicago, Rock Island and Pacific Railroad main track and lying Northerly of said Lots.

SW Parcel:
And Lots Six (6) through Nine (9), Block Four (4), Railroad Addition to Shellsburg, Iowa.

 And Lot Thirty-seven (37), Auditor's Plat No. Thirteen (13), Benton County, Iowa, being a part of the Northwest Quarter (NW 1/4) of the Northwest Quarter (NW 1/4) of Section Fourteen (14), Township Eighty-four (84) North, Range Nine (9) West of the 5th P.M., Except the South 100 feet thereof, and Except beginning at the Southwest corner of Lot Six (6), Block Three (3), Railroad Addition to Shellsburg, Iowa, thence South to a point 200 feet North of the South line of said Northwest Quarter (NW 1/4) of the Northwest Quarter (NW 1/4) of Section Fourteen (14), Township Eighty-four (84) North, Range Nine (9) West of the 5th P.M., thence West to the West line of Lot Thirty-seven (37), Auditor's Plat No. Thirteen (13), Benton County, Iowa, thence North along the West line to the Northwest corner of said Lot Thirty-seven (37), Auditor's Plat No. Thirteen (13), Benton County, Iowa, thence Southeasterly along the North line of said Lot Thirty-seven (37), Auditor's Plat No. Thirteen (13), Benton County, Iowa, to the place of beginning.

SE Parcel:
Lots One (1) through Nine (9), Block Four (4), Railroad Addition to Shellsburg, Iowa

And all of Lot Thirty-six (36), and part of Lot Thirty-four (34) described as follows: commencing at the Southwest corner of Lot One (1), Block Four (4), in Railroad Addition to the Town of Shellsburg, Iowa, thence South 50 feet, thence East 100 feet, thence North 50 feet, thence West 100 feet to place of beginning, all in Auditor's Plat No. Thirteen (13), Benton County, Iowa, being a part of the Northwest Quarter (NW 1/4) of the Northwest Quarter (NW 1/4) of Section Fourteen (14), Township Eighty-four (84) North, Range Nine (9) West of the 5th P.M.

Directions

Located downtown Shellsburg, Iowa with four parcels on each corner of the intersection of SW Commercial Street and SW Grand Avenue. The northwest parcel has additional road frontage along SW Canton Street and the two northern parcels have frontage along the Iowa Northern Railway.
  • Sign On Property: Yes
  • Parcel Number: 19023200, 19023800, 19023250, 19024700 & 19013132
  • School District: Vinton-Shellsburg Community School District
  • General Area: Shellsburg, Iowa
  • Net Taxes: $10,056.00
  • Auction Date: July 24, 2024
  • Possession: At Closing
  • Terms: Cash

Auction Details

Sale Terms and Conditions: Peoples Company is handling the sale of the Shellsburg, Iowa Grain Elevator owned by West Side Real Estate Company, LLC through a Sealed Bid Sale.

Sealed Bid Submittal Process & Deadline: Sealed Bids, in written or electronic format, for the Property will be due no later than 5:00 P.M. CST, on Wednesday, July 24th, 2024, to the following: 

Travis Smock
Peoples Company
2300 Swan Lake Blvd, Ste 300
Independence, Iowa 50644
Travis.Smock@PeoplesCompany.com 

Sealed Bids for the Property shall be submitted on the Sealed Bid Submittal Form that can be obtained by contacting Listing Agent Travis Smock by phone at (319) 361.8089 or by email at Travis.Smock@PeoplesCompany.com. Handwritten bids, if legible, may be acceptable in the Seller and Broker’s sole discretion. Please complete each blank field provided in the Sealed Bid Submittal Form. Bids can be submitted via mail or email but must be received by the deadline date to be considered. 

Upon the receipt of all submitted bids, the Seller may accept or reject any bid or offer or enter into negotiations with one or more Bidders. Upon the Seller’s acceptance of any bid or offer, the winning Bidder(s) and Seller shall enter into a binding Offer to Buy. The Seller shall not be obligated or bound to sell the Property until Seller has entered into a fully executed, definitive Offer to Buy.

Agency: Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge that they are representing themselves in completing the sales transactions.

The Sealed Bid Terms & Conditions can be referenced in their entirety in either the Attachments Section 

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