Terms & Conditions

By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company. 

Payment

When paying within the stated time and with our acceptable payment methods: 

• A 10% buyer’s premium with a maximum charge of $1,000 per item applies to items purchased on Timed Online Auctions.

• A 2% buyer’s premium with a maximum charge of $1,000 per item applies to items purchased on this Live Auction.
• Down payment is due on the day the auction closes.

Acceptable forms of payment:

• Bank Wire Transfer; please call for wire instructions to be emailed to you.
• Check delivered to our office that held the auction
• Check By Phone

Mt. Pleasant, Ames 319-385-2000

• Check By Fax

Mt. Pleasant, Ames 319-385-4709

Agents for Sellers
Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute."  Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features and other data pertinent to the value of the item. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.

Inspection

You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not. 

Auction Close

Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.  

Please note that some lots can be tied together and will be set to close simultaneously.  This will be indicated in those lots by a paper clip symbol.  Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.

         Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller. 

Buyer Default

When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. 

Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. 

Internet Risk

You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction. 

Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. 

SECURED LENDER - COMMERCIAL REAL ESTATE AUCTION

Waterloo, Iowa

Auction to be held onsite at 3295 University Avenue, Waterloo

Open House on Tuesday, September 1^st from 1-2pm

Online Bidding Available!

13,824 SQ.FT. COMMERCIAL BUILDING

Looking for a real estate investment?  Come take a look, as you will be surprised what this building offers inside.  The property is currently leased to Lark Brewing.  The building could be converted to a multi unit or duplex style building, offering plenty of space on the main and lower levels with separate entrances and off street parking for both levels.

Main Level

• Spacious dining area with bar
• Kitchen with hood vent & ansul system
• Outdoor patio area
• Restrooms
• Two small offices
• Mechanical room
• Open stairway to the lower level
  

Lower Level

• Brew room with viewing windows to the bar & open dining area
• Private dining room
• Small prep area with walk in cooler
• Office
• Restrooms
• Mechanical room

Amenities

• Sprinkler system
• 2.186 Acres M/L
• Zoned C-2

Included:  (2) Walk in coolers, Hood vent & ansul system, Metal railing, Track lighting above bar on main level.

Not included: All Lark Brewing signage & awning, Main level walk in cooler, All SS sinks, Dishwasher system, Grease traps, Light fixtures above lower level bar, Beer taps, Decorations, All Restaurant & Brewing Equipment & Fixtures, Tables, Chairs, Bar Stools

Terms: 10% down payment on September 15, 2020.  Balance due at closing with a projected date of October 30, 2020, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of October 30, 2020. (Subject to tenant’s rights)

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: $27,668.00 (Net)

Assessed Value: $778,440

Special Provisions: 

• The property is selling subject to tenant’s rights, with a written lease in in place through December 31, 2020.  The rent is $3,250 per month and the rent will be prorated to the date of closing.  There is an option to extend the lease for six months at $5,000 per month.  Any security deposits, if any, will be transferred at closing.  Copy of said lease will be available online.  It is the responsibility of the new buyer to give tenant notice, if so desired. <Click here> to view lease agreement. 
• Seller shall not be obligated to furnish a survey. 
• 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.
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• 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.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Owner: Secured Lender

For information contact Nate Larson at Steffes Group at 641.423.1947 or 641.530.5528