Sheldon, Iowa — A property located adjacent to Business 60 in Sheldon was sold at auction Tuesday, bringing a price well above the property’s assessed value.
According to Sheldon City Manager Sam Kooiker, the former Iowa DOT property located at 1220 2nd Avenue, which was owned by O’Brien County, brought $195,000, well above the Assessed Value of just over $133,000.
According to Deputy Dean Fjeld of the O’Brien County Sheriff’s Office, who sold the property, it was purchased by a northwest Iowa company known as NOYB, LLC. They took possession immediately after the sale and the title was transferred on Tuesday.
Fjeld says approximately 20 people attended the auction. He says there were about six active bidders, and the bidding was “fairly aggressive.” He says the auction lasted about fifteen minutes and about 27 bids were received.
The O’Brien County Sheriff’s Office was involved because the county board of supervisors deemed the location as surplus property. So they directed the sheriff’s office to conduct a public auction.
We reached out to NOYB, LLC. They told us that the property will undergo a renovation, but that they are not ready to go public with their plans for the facility at this time.
