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NO RESERVE LIME SPRINGS IA. IOWA SCHOOL HOUSE HOME BUSINESS CONDO APARTMENTS

Has $300,000 geothermal heat & air conditioning system

 

Location: Lime Springs, Iowa

Shipping: TBD

Time Left: Expired

$40100.00

x ****** NO RESERVE ABSOLUTE AUCTION ****** The former Lime Springs School located in Lime Springs Iowa, is now available for purchase as a"NO RESERVE AUCTION" sale. The beautiful little town of LIME SPRINGS is located in north central Iowa, With a population of around 400 residents, it offers a friendly, small-town atmosphere and appeal. Winters in the area have been much milder than usual the past 10 years making this a perfect area to start your NEW BEGINNING. The 25,000 m/l square foot building sits on a corner lot with .66 acres m/l of prime, level real estate. The property features a park-like setting in the back area as seen in the pictures. That would make an excellent spot to park your RV/motor home. The property currently has no assigned taxes; they will revalue the property in 2018. When I last spoke with the assessor's office, I was told that they estimate placing taxes around $1500 per year due at the end of September 2019. Tax appeals can be submitted should the new owner feel the need to do so. I have personally done this several times on other properties that I have had, and have successfully managed to reduce the taxes each time. There is NO ZONING in Lime Springs. . The school building is in great condition, and has both city water and sewer. There are no leaks in the ceiling, the roof is in good repair, and it has been winterized by the school district. The schools has 7 big (class ) rooms with 2 bathrooms; has several other nice size rooms, has band/ singing room, has a gym and stage . The Boiler Room and storage rooms are located in the basement. The two structures are connected as one so that the students never had to leave the building when going playing in the Gym. Has $300,000 PLUS geothermal heat & air conditioning system in it. How do I know this is because I talked to a school board member that OK the system. The system makes this place economically feasible to do ANYTHING WITH. In my opinion, this would make a great Bed & Breakfast. Call it Old school Bed & Breakfast. The reason I think It would be great for this is because there is NO chain motels in the town or area. I think it would be a real novelty for visiting alumni to be able to stay in the very facility where they attended school. There is probably grant money like most states for this. I think it's 50/50 they match. I was watching an old western the other day and they talked about putting someone up a boarding house for a few days; I thought WOW what a concept for our school. You just need a room to live/sleep in much like a studio apartment minus kitchen facilities; nothing fancy, just a roof and a sense of security. You could supply the rooms furnished (used furniture) . The original boarding houses provided community served meals and a common area where they played cards and checkers; modernized, it would include TV, too. The beauty of this concept is that it is zoned for Bed & Breakfast/Boarding Home setting / no zoning. Financially, it could provide a good income: 10 rooms X $600 = $6000 a month PLUS you live there FREE. Or sell a room for $30,000 like a condo, they own it and they fix it up, the $300,000 geothermal heat & air conditioning system alone is worth the room they buy. So 10 X $30,000 = $300,000 . The rooms are 30 by 24 ft. and all have water in each room. As you can see in the pictures in the FLICKR link there is a building on the north side that's head start / learning center and is attached by a little breeze way and that part ( learning center ) is NOT part of this property. They also own a little piece of playground area by the front of their building as you see in some of the pictures. Behind their building and ours there is a nice size park that the city owns. This property you're buying probably is a once in a lifetime deal. Click on the two flickr links below to view a lot more pictures of the interior and exterior of the property. https://www.flickr.com/photos/[email protected]/albums/72157683292968954 Serious Buyers may call us with questions at: 660-287-6094 or 660-815-1035 Our Terms and Conditions are as follows: We will require a $4,000.00 NON-REFUNDABLE, GOOD FAITH DEPOSIT in the form of a CASHIER'S CHECK OR MONEY ORDER to be sent out via overnight services the next business day after an offer has been accepted. WE DO NOT ACCEPT PAYPAL AND WE DO NOT OFFER FINANCING. The $4,000.00 deposit will be deducted from the purchase price of the property. The buyer will also be responsible for up to, but no more than $800.00 in closing and title insurance costs. That is all the closing will cost you, $800.00 max if you live in the USA. If you live in another country, add $100.00. Once we have received the $4K deposit a Purchase Sales Agreement will be executed between the Buyer and Seller. The Purchase Sales Agreement will then be sent to Landmark Title Company in Wichita Falls to begin the closing process. We will need to close within 30 days or sooner, so long as both parties agree. The property is being sold "AS IS, WHERE IS". So, please do your due diligence BEFORE you decide to offer and buy. We have described this property to the best of our knowledge. Please realize that these are our opinions about the property. You may see things differently. You may see things that might need fixing that we didn’t see or you may disagree with our suggestions and opinions of what you can do with the property and the condition of the property. This property may or may not have lead paint, asbestos, a broken tile, a cracked or broken out window, and may or may not require City inspections before any services/utilities can be subscribed to. This is a matter of opinion and in no way is the property being misrepresented to you. *Please do your due diligence. YOU WILL GET A WARRANTY DEED AND TITLE INSURANCE. WHEN IT IS TIME TO CLOSE ON THE PROPERTY, YOU DO NOT HAVE TO BE PRESENT, IT CAN ALL BE TAKEN CARE OF THROUGH THE MAIL. THERE HAS BEEN A TITLE SEARCH DONE ON THE PROPERTY AND THE PROPERTY IS FREE AND CLEAR OF ANY DEBT AND LIENS AND YOU WILL RECEIVE A FREE AND CLEAR WARRANTY DEED.

  • Seller State of Residence: Iowa
  • Property Address: 120 W. Jackson St.
  • State/Province: Iowa
  • Sale Type: Former School
  • For Sale by: Owner
  • Property Type: Former School
  • Square Footage: 25000
  • City: Lime Springs
  • Setting: Rural, Country
  • Zip/Postal Code: 52155