Real Estate & Restaurant Equipment Auction

Selling the “Iconic” Bryn Mawr Steakhouse Property

AINSWORTH, IOWA

Auction to be held onsite at 28648 Highway 92. 

Located 2 miles east of the Avenue of The Saints/Highway 218

MONDAY, APRIL 9, 2018 AT 2:00 PM

Real Estate Sells First!

Open House on Monday, March 26^th from 2-3PM

Auctioneer’s Note: Here is your chance to bid your price on three properties selling for one money!  Includes the Bryn Mawr Steakhouse, a nice ranch style home and small motel.  Potential income producing property with a remodel of the motel or converting them into apartments.  Other revenue can come from renting the home and restaurant.  The possibilities of this property are endless!

Three Properties – Selling One Lump Sum Price

Four Bedroom Ranch Style Home

Modern ranch style home has 1,452 sq.ft. of living space on the main level and was built in 1978.  The home features a living room with fireplace, three bedrooms and a full bath on the main level.  The large eat in kitchen offers laminate flooring, built in oven & stove top, dishwasher and a sliding glass door to the 10’x28’ deck.  Also on the main level is the laundry/mud room.

The walkout basement offers a large family/rec room with wet bar, bedroom and a full bath.  The basement also has an office/study, storage room and utility room.  Other home amenities include an attached 2 car garage, Heil gas forced air furnace with central air, electric hot water heater and a 200 amp breaker box.

Bryn Mawr Steakhouse

The restaurant building offers 2,400 sq.ft. of space, which includes a large dining room with fireplace, bar area, a separate smaller dining area, four bathrooms and a kitchen/prep area.  There is a partial basement for storage.  The building has (2) Trane gas furnaces & A/C units, gas hot water heater and 200 & 150 amp breaker boxes.

Motel

The motel part of this property is in need of a remodel make over.  The building offers 7 rooms with baths and a storage/utility room.

All three properties are serviced by one well and one septic system. The property is located on Highway 92, all situated on 0.85 acres.

Included: 1,000 gal. LP tank, Utility shed, Hood vent

Not Included: Refrigerator, Washer, Dryer, Walk in cooler, Water softener unit, All other restaurant equipment & decoration items.

TERMS: 20% down payment on April 9, 2018.  Balance due at closing with a projected date of May 24, 2018, upon delivery of merchantable abstract and deed and all objections have been met.

POSSESSION: Projected date of May 24, 2018.

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

Gross                     $4,896.48

Business Credit      ($1,291.36)

Net Taxes:              $3,606.00(Rounded)

Assessed Value: $199,902

SPECIAL PROVISIONS:

~ This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.

~ The seller will have the septic system inspected prior to the auction.

~ The 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.

~ The buyer acknowledges that he/she has carefully and thoroughly inspected the real estate and is 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 same.

~ Steffes Group, Inc. is representing the Seller.

~ Any announcements made the day of sale take precedence over advertising.

Items to be sold after the real estate:

Please note: There will be a 5% Buyer’s Premium on all Restaurant Equipment. It is the buyer’s responsibility to remove items from premises, all items to be removed on auction day.  Larger items have until Friday, April 13th at 5pm to be removed, unless prior arrangement has been made with owner.

RESTAURANT EQUIPMENT

12’x45” SS hood w/ Amerex KP 600 fire system(hood vent not included)

CrownTonka walk in cooler, 113”w X 90” deep

Turbo Air M3 2 door upright freezer, 52”x31”x78”tall

True TS-23E-2 2 door upright freezer, 27”x30”x7’tall

Turbo Air TBC-50SB, under counter cooler, 50”x28”

Beverage Air DW64, under counter cooler, 65”x27”

Turbo Air M3 MST-60, sandwich prep refrigerator, w/ attached upper shelf, Used 1 month

Delfield 4 drawer/1 door cooler with butcher block top, 6’x3’x37”tall

Turbo Air Radiance Range TARG-24G48, 4 burners, 24” griddle, 2 ovens, w/ upper shelf

Turbo Air Radiance Charbroiler TARB-36, 6 burner

Alto-Shaam 1000-TH-II oven/warmer

Simple Steam by South Bend, countertop steamer

(2) Frymaster 2 basket fryers

Turbo Air German knife meat grinder

Hobart 403 SteakMaster

Hobart meat slicer

Frigidaire chest freezer

Gibson chest freezer

Bar blenders

Wire shelving

ELO point of sale cash register

Silverware, glassware, plates & numerous items found in a restaurant!

SINKS - SS TABLES

73”x21” SS under counter, 3 sink

2’x21” SS under counter sink

2’x18” SS under counter ice sink

5’X29” SS table

5’x30” SS table w/ 2 drawers

7’x22” SS table & sink w/ 3 drawers

6’x23” SS table

4’x3’ SS dishwasher sink

6’x29” SS dishwasher table

TABLES – CHAIRS

(7) 34”x34” dining table

(4) 3’x3’ dining table

(3) 30”x5’ dining table

(3) 30”x4’ dining table

(3) 50” round tables

(2) 8’ folding tables

(12) Bar stools

Over 100 padded dining room chairs

High chairs

JUKEBOX - TV’s

The Performer Grand 2000, CD jukebox

Samsung 55” flat screen TV

Samsung 40” flat screen TV

Emerson 32” TV

JVC 32” TV

RIDING MOWER – APPLIANCES

John Deere x540, 330 hrs., 54” deck

John Deere 47 snowblower

Whirlpool side by side refrigerator

Whirlpool washer

Whirlpool electric dryer

POS EQUIPMENT (NEW, NEVER USED)

(4) Quest 7 Dynamic touch, 7 inch tablets with 2GB RAM and 32 GB internal storage, cradle, battery, wrist strap and charger

TP-LINK Safe Stream Broadband Gigabit Router. Model No.TL-R600VPN

Credit card / thermal receipt printer

(3) Heavy duty back up battery packs

Credit card reader (portable)

ROYAL 210DX Electronic Cash Register with thermal printer-1400 price look ups, 24 Departments and 10 Clerks with LED customer Display Window.

Ingenico credit card processor. Used for one month.

FURNITURE & OTHER

(2) King Size Beds with Box Springs, Mattress and frames. In great shape, Wurlitzer piano, Dresser, (4) Exercise Stationery Bike, Upright Refrigerator/freezer, LG Flat Screen 42” Color TV, Antique Sled, Misc. hardware for bathrooms (new) such as towel holders, faucet kit

Owner: Stephanie P. Paine Trust

Tana Parrish – Trustee

John R. Eichelberger – Attorney for Seller

For information contact Nate Larson of Steffes Group, 319.385.2000 or 319.931.3944 (cell)