Bill & Bev McGregor

Bill & Bev McGregor

Thursday, September 19, 2024  |  10:00 AM Central
Auction closed.
Bill & Bev McGregor

Bill & Bev McGregor

Thursday, September 19, 2024  |  10:00 AM Central
Auction closed.
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Description

Mark your calendars now for this upcoming Lee County, Iowa Real Estate Auction for Bill & Bev McGregor.

This auction features a 1-1/2 story, 4 bedroom, 3 bathroom home that was built in 2003 and includes a walkout basement and a very nice deck.

Also included in this auction is a single story newly remodeled manufactured home that includes 3 bedrooms, 2 bathrooms and a 24’x 26’ shop.

For you business entrepreneurs, we are also selling what is locally known as the Ridgewood Lounge II. This is a full service income producing night club that offers several business opportunities.

We look forward to your interest in this unprecedented auction!

Listing & photos of bar equipment and personal property coming soon!

Merit Auctions, LLC


319-405-0031
Catalog Terms of sale
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This lot is for information only & for test bidding. Place your actual bids on the lots below.

Lot # 0 (Sale Order: 1 of 4)      

METHOD

The McGregor Real Estate will be sold in 3 individual Tracts. Tract 1 will be sold first for a lump sum total dollar amount followed by Tract 2 which will be sold for a lump sum total dollar amount, followed by Tract 3 which will be sold for a lump sum total dollar amount. The Tracts will NOT be offered in its entirety or in any combinations. Bidding is NOT contingent upon financing, an appraisal or inspection. A survey has been completed.

TERMS

Ten (10%) percent of the bid price to be due on the day of sale with the balance due in approximately 30 days, on or before Wednesday, October 23, 2024 upon delivery of a merchantable abstract and deed.

At the conclusion of the auction, the successful bidder(s) shall enter into a written agreement with the seller. Signing of said agreement will be executed via email or DocuSign. The real estate taxes will be prorated to the date of closing. Full possession will be given at the time of closing. All tracts are serviced by a septic system and are subject to the IA Septic system law. The septic system will require testing, all testing and required updates will be at the buyer(s) expense. For questions or complete details contact the Auction Representative.

The information in this brochure is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are 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 real estate. All announcements sale day shall take precedence over any prior advertising either written or oral.

Auction Manager:
Kaycee McGregor (319) 670-8532


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Tract 1: 4- Bedroom Country Home

Lot # 1 (Sale Order: 2 of 4)      

  • Physical address: 2613 Highway 2, Fort Madison, IA 52627
  • This tract features a very well maintained 1-1/2 story, 4-bedroom, 3-bathroom home built in 2003. The home is 1,946 sq. ft.
  • Walkout basement, 378 sq. ft. wooden deck
  • Optional gas or wood furnace heat
  • Rathbun Rural Water

Contract - Tract 1 - 2613 Hwy. 2, FM.pdf
Tract 1- Sellers Disclosure .pdf

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Sold for: USD 90,000.00

You've been outbid  to m****5! to YOU!

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Tract 2: 3-Bedroom Manufactured home with 24ft.x26ft. shop

Lot # 2 (Sale Order: 3 of 4)      

  • Physical address: 2615 Highway 2, Fort Madison, IA 52627
  • This tract features a single story 3-bedroom, 2-bathroom manufactured home that has been newly remodeled
  • Also included is a 24ft. x 26ft. shop with an apartment/office area (2-room, 1-bathroom)
  • This tract offers MANY opportunities!
  • Rathbun Rural Water

Contract - Tract 2 - Parcel J - 2615 Hwy. 2, FM.pdf
Tract 2- Sellers Disclosure .pdf

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Sold for: USD 60,500.00

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Tract 3: 40ft.x 90ft. Commercial Building on 1.00 surveyed acres

Lot # 3 (Sale Order: 4 of 4)      

  • Physical address: 2617 Highway 2, Fort Madison, IA 52627
  • This tract features a 40ft.x 90ft. commercial building on 1.00 surveyed acres
  • Commonly known as the Ridgewood Lounge II
  • This is a full-service income producing nightclub
  • This tract offers several business opportunities!
  • Great hard surface road frontage!
  • Also small apartment in the basement 2 bedroom, 1 bathroom
  • Rathbun Rural Water

Contract -Tract 3 -Parcel H - 2617 Hwy. 2, FM.pdf
...more

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Sold for: USD 31,000.00

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1.178.0.1436.6306030.13.250