BY CHUCK VANDENBERG
FORT MADISON – Fort Madison officials confirmed today that Farm & Home Supply Co. out of Quincy, has signed a lease agreement with the owners of the former Shopko building on the city’s west end.
Tim Gobble, Executive Director of Fort Madison Partners, confirmed the transaction this morning, but said there were many details yet to be worked out.
“We just confirmed that a few minutes ago,” Gobble said Friday at about 12:30 p.m.
“The lease was signed a few days ago and we heard from the realtor and property owner today, so it is official.”
Farm & Home has corporate offices and a distribution center in Quincy, Ill.
They also have 12 retail outlets in Iowa, Illinois, and Missouri, including a store in Keokuk.
Cool Investments, LLC out of Scottsdale, Ariz., purchased the building and the outlying property in September 2019 for $360,000 from a New York real estate firm that was liquidating property for the Shopko brand.
According to the Lee County Treasurer’s office, the land and building are valued at just over $915,000.
Shopko closed for business in Fort Madison in April last year.
Farm & Home Supply was founded in 1960 at Quincy Farm Supply specializing in products for homes and farms, and livestock needs.