City of Madison – +/-55,852 Sq. Ft. Bare Development Site in Madison, SD
January 9, 2018 @ 10:00 am
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DEVELOPMENT LAND AUCTION
Well Located +/-55,852 Sq. Ft. Bare Development Site Situated In the Heart of Madison, SD
As the City of Madison, SD has declared this land to be surplus property, we will offer the following real property at auction on site at the property at a previously addressed as 117 SE Second Street in Madison, SD – Located near the Intersection of Egan Ave. & SE 2nd Street.
SALE DATE: TUESDAY JANUARY 9, 2018 SALE TIME: 10:00 AM
VIEWINGS: This site consists of an undeveloped parcel of land which presently zoned “Light Manufacturing” that could be adaptable to a large variety of suitable utilizations in conformance e with City Zoning & Regulations. Inspection of the property is available at Your Leisure – For Personal Showings or Further Specifics Concerning this property, Contact Mayor Roy Lindsay ph. 605-270-1668 or Mr. Chad Comes, City Engineer -605-256-7514; or contact the auctioneers.
ATTENTION!! – Developers, Contractors, Investors & Individuals in the Market for a Sizeable Extremely Well Located Commercial Site in Downtown Madison, SD. This auction presents an excellent opportunity to purchase a well located parcel of undeveloped land situated in a very desirable area in the heart or downtown Madison, SD. This property will be offered at auction as one single parcel, although the property was recently surveyed and platted as two (2) lots. This is a sizable parcel of undeveloped land which in accordance with a recent survey of the property contains a total of approximately 1.28 acres (+/- 55,852.9 sq. ft.) with approx. 54 ft. of frontage along Egan Ave. and 395.6 ft. of frontage along Second Street (283.76’ bordering Lot 1 & 111.90’ bordering Lot 2); the south boundary of the property borders the BNSF Railway and their Right-of-Way. This property was reclaimed and renovated by the City of Madison, with the result leaving a very desirable level lot with a gravel surface and City utilities nearby and readily available. The property has been staked and surveyed and survey markers are in place for reference prior to and at the time of the auction. This property is situated in an area of Madison, SD conveniently located to nearby businesses, commercial buildings, Madison City Fire Department, Rail Line & More! According to Madison City Zoning, this property is presently Light Manufacturing which allows for a variety of approved utilizations and various other uses subject to approved conditional uses. A preliminary title commitment has been completed on this property as provided by Weber Abstract & Title Company and is available upon request. Please inspect this property and make plans to be in attendance at the auction of this well located development property.
LEGAL DESC.: Lots 1 and 2 of Second Street Addition to the City of Madison, Lake County, SD.
TERMS: Cash – a 10% nonrefundable downpayment on the day of the sale and the balance on or before Feb. 23, 2018 with possession. Marketable Title will be conveyed and an Owner’s Title Insurance Policy provided with the cost divided 50-50 between the buyer and seller. The closing agent for this transaction will be Weber Abstract & Title Company of Madison, SD with the closing costs & fees related to the transfer of title to be paid by the City. This property is currently owned by a governmental entity and is not on the tax rolls, thus the RE taxes will be reassessed to the new owner as of the closing date. Any future use, zoning and development is subject to the approval of Madison City Planning and Zoning. Any or all future renovations or development costs are the responsibility of the buyer. This property is sold in “AS IS” Condition and the merchantability or suitability of this property for any particular purpose is not guaranteed; the City of Madison or its’ agents does not give any warranty as to the quality or descriptions of this property. The Real Estate Licensees/Auctioneers in this transaction stipulate that they are acting as agents for the seller. Information contained herein is deemed to be correct, but is not guaranteed. Sold subject to existing zoning, easements, restrictions, reservations and highways of record, if any. Sold subject to confirmation of the City of Madison, SD per completion of an ordinance and City Council approval. For specifics and pertinent data concerning this property, contact Mayor Roy Lindsay – ph. 605-270-1668 or Mr. Chad Comes, City Engineer -605-256-7514 or the Offices of the City of Madison, SD at 116 W. Center St. in Madison, SD or ph. 605-256-7500; or contact the auctioneers. For a copy of the auction brochure with maps and other information, contact Chuck Sutton Auctioneer & Land Broker, LLC – ph. 605-336-6315 or see www.suttonauction.com
CITY OF MADISON, SD, Owner
CHUCK SUTTON – Auctioneer & Land Broker – Sioux Falls, SD – ph. 605-336-6315
WAYNE BESSMAN – RE Auctioneer – Madison, SD – ph. 605-270-4980 and
JARED SUTTON – RE Auctioneer & Broker Assoc. – Flandreau, SD – ph. 605-864-8527[/vc_column_text][/vc_column][/vc_row]