BURLINGTON, IA REAL ESTATE AUCTION - SKY & SEA PROPERTIES, LLC

Des Moines County, Iowa

The Sky & Sea Properties, LLC real estate is located at 514-520 Jefferson St. and at 522 Jefferson St., Burlington, IA.

These historic buildings are located on one of the most up and coming streets in Burlington, IA, with high daily traffic.

Burlington, IA Real Estate • 2 parcels

514 Jefferson St. houses Corked 101, which is an upscale wine and food bar. 520 Jefferson St. houses Original Cyns, a nice women’s clothing boutique that has been in business for well over 20 years. 522 Jefferson St. is vacant at this time, just waiting to be converted to your future business vision. Whether you’re an investor or an entrepreneur, we urge you to check out these income-producing buildings. This is an auction you will not want to miss!

Parcel 1 - 514 to 520 Jefferson St.

• The structures on this parcel offer 6,904 sq. ft. (per assessor’s website) of workable business space. 514 houses Corked 101 which includes a bar area, a kitchen area, 2 public bathrooms and an outside patio (3,511 sq. ft. of space total).
• 518 & 520 houses Original Cyns which includes open business space easily divisible into 2 separate business ventures, with each having its own restroom (3,393 sq. ft. of space total). 520 includes a quaint, raised office/operations area and a vintage bank vault.
• The upper level of these buildings is available to be restored into several attractive living quarters right in historic downtown Burlington.
• 514 Corked 101 Lease: $1,500 per month (Month to Month Lease)
• 518-520 Original Cyns Lease: $1,200 per month (Month to Month Lease)
• Assessed Value: $385,900.00
• Estimated Real Estate Taxes: $12,748.00

Parcel 2 - 522 Jefferson St.

• This building offers 1,680 sq. ft. (per assessor’s website) of workable space. It is presently unoccupied – just waiting for someone to finish what has been started in it (outside and interior walls have been studded for bathrooms).
• The building offers an outside entrance which provides easy access to the upper level, which can be updated to income producing living quarters.
• Assessed Value: $74,700.00
• Estimated Real Estate Taxes: $1,470.00

The Sky & Sea Properties, LLC Real Estate will be sold in numerical order. Parcel 1 will be sold first followed by Parcel 2. Both parcels will be sold for a lump sum total dollar amount. Both parcels will be sold individually and will NOT be combined at the conclusion of the auction.

Immediately following the auction, the successful buyer(s) will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing. Closing will be approximately 40 days after sale -- on or about December 22, 2026, and upon delivery of merchantable abstract and deed. Real estate taxes will be prorated to the date of closing. Possession will be given at the time of closing -- subject to leases with tenants occupying Parcel 1. Should Buyer(s) wish to terminate any existing lease, Buyer(s) may notify Seller of their wish to terminate prior to closing and Seller will handle the termination at Seller’s cost. Or if the Buyer(s) wish to retain said tenants they will need to notify Seller of said intentions. Full possession will be given at the time of closing on Parcel 2.

Bidding is NOT subject to any contingencies, including but not limited to, financing, appraisal or inspection of the property.

All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers pertaining to this property. All real estate being sold is being sold “AS IS”.