Well Located Commercial Shop/Storage Building in Madison, SD

Well Located Commercial Shop/Storage Building in Madison, SD

Wednesday, October 21st at 5:00pm CT

 In order to settle the Orlynn Reinicke Estate we will offer the following real property at public auction, with the auction to be held On Site at the property located at 220 NE 2^nd Street in Madison, SD (Corner of NE 2^nd Street & N. Lee Ave., directly west of the U Shine Car Wash or Just 1 block east of the Madison Dairy Queen.

This is a parcel of Real Estate that is a rare find in Madison, SD, as this property features a modern storage and or shop building that was previously utilized as a storage location for his Vintage Tractors, Shop Use and Personal Storage. This property consists of a well-constructed building that is approx. 26’x58’ and includes a +/-10’ Tall x18’ Wide east overhead door with an electric opener, a southeast walk door, as well as a +/-6’10”T x8’W overhead door and a walk door in the SW corner of the building. The building features a white steel lined interior and is mostly open storage space with the exception of an 11’6”x21’ Interior room with an 8’8”Wx7’T overhead door and an adjacent roughed in bath (not fully finished and not presently in use), and the building features a concrete floor throughout. In addition, included with the building is a wall mounted Comfort-Air Cooling/Heating unit, LED lighting and a 200 amp breaker electrical box with a 10-30-2016 inspection date. According to the Lake County Assessor this property has a lot that is approx. 80’x117’. The property will be surveyed to located the property corners with a survey drawing provided by Midwest Land Surveying, Inc. According to the City of Madison this property is zone “NB” Neighborhood Business District which has a wide variety of principal permitted uses, which may be expanded under city approved Conditional Uses – for copies of ordinances or specifics concerning zoning and acceptable utilizations for the property; furthermore, it appears that there is a significant portion of this property is within the 100 and 500 year floodplain, interested parties are urged to contact the Madison Planning & Zoning and/or the City Engineers Office.

Legal Desc: Lot 9 Except the N. 50’ thereof and the W. 50’ of Lot 8, Except the N. 50’ thereof, and Except Lot H-1 contained therein, all in Block 1 of Town Proprietor’s First Addition to Madison, Lake County, SD, according to the recorded plat thereof.

Terms: Cash – A 10% nonrefundable earnest money payment on sale day with balance on or before December 4, 2026 with possession. A Personal Representative’s Deed will be conveyed and a title insurance policy will be provided with the cost of Owner’s Policy and Closing Agent’s Fees (Weber Abstract & Title), to be divided 50/50 between the buyer and seller. The 2025 Real Estate taxes payable in 2026 in the amount of $835.22 will be paid by the estate and based on that amount the 2026 RE taxes will be prorated to the date of closing. This property is sold exempt of a Sellers Property Condition Statement and is sold in “AS IS Condition” with no contingencies whatsoever, and subject to any existing easements, restrictions, reservations or highways of record, if any. This property has recently been surveyed and has had a survey drawing prepared and the property boundaries established by Midwest Land Surveying, Inc., with the survey costs paid by the estate. The RE Licensees/Auctioneers are acting solely as agents for the sellers.  Sold subject to confirmation of the Personal Representative.

For an appointment view the property, contact Sutton Auctioneers & Land Brokers at 605-336-6315 or Wayne Bessman at 605-270-4980. 

Broker Participation Welcome – A 2% Commission is Available to a licensed RE Broker that represents a successful purchaser of the property and that complies with the criteria for Broker Participation – Brokers Must Register their Prospective Buyers and Submit an Opening Bid Deemed Worthy of Consideration/Participation at the Discretion of the Auctioneer Prior to the Day of the Auction; to Obtain Information Pertaining to Broker Participation Contact Sutton Auction by ph. 605-336-6315 or by email at office@suttonauction.com

Orlynn Reinicke Estate
Kent Boadwine, CPA – Personal Representative – Sioux Falls, SD – ph. 605-941-9426
Larry Dean Nelson – Attorney for the Estate – Sioux Falls, SD – ph. 605-335-4008

CHUCK SUTTON – Auctioneer & Land Broker – Sioux Falls, SD – ph. 605-336-6315
WAYNE BESSMAN – RE & Pers. Property Auctioneer – Madison, SD – ph. 605-270-4980
JARED SUTTON, CAI – Auctioneer & RE Broker Assoc. – Flandreau, SD – ph. 605-864-8527
GAGE GULLICKSON – Auctioneer & RE Broker Assoc. – Flandreau, SD – ph. 605-651-3867