News: Abbotsford – House of Dav-Ed Auctioned (Jun 1974)

Transcriber: Stan

Surnames: Pfalzgraf, Grube, Colombe

----Source: Tribune/Phonograph (Abbotsford, Clark Co., Wis.) 27 Jun 1974

Abbotsford’s House of Dav-Ed, Inc., which has been closed for the past several weeks, changed hands at a Sheriff’s sale at the courthouse steps in Wausau at 10 a.m. Monday.

Mrs. Sue Pfalzgraf of Abbotsford, who with her husband John, own and operate Medo-Farm Restaurant, was top bidder for the real estate parcel, which includes the land and buildings known as the House of Dav-Ed. Mr. Pfalzgraf’s high bid was $84,000.

The auction was the result of a foreclosure action as the part of Security State Bank, Colby-Abbotsford-Unity, and the first bid in the amount of $68,100 was place by the bank.

Two other bidders, along with Mrs. Pfalzgraf and the bank, were in the action, Henry (Bud) Grube of Abbotsford and Tom Colomde, Cornell.

Grube offered the second bid in the amount of $69,000. Security Bank returned with another bid in the amount of $71,000.

A bid of $71,500 was then offered by Grube, and was topped by Colombe, who bid $72,000.

Colombe and Grube seesawed back and fourth $500 at a time, until Grube held the high bid with $76,500.

Mrs. Pfalzgraf entered the bidding with a bid of $77,000. Grube bid $77,500, and was countered with $78,000. Grube bid $80,000 and Mrs. Pfalzgraf returned with $80,500. The bid seesawed by $500 each time, again until Grube was high with $82,000. Mrs. Pfalzgraf bid $83,000, and two more %500 bids on the [art of both ended at $84,000, with Mrs. Pfalzgraf the high bidder.

Prior to bidding, Security State Bank offered a sale of the House of Dav-Ed’s personal property to the high bidder for a total of $27,258.84.

The court must now approve the sale before final conveyance of the property can be accomplished.

Mrs. Pfalzgraf told the Triune-Phonograph that she intends to operate the property herself, but information concerning re-opening of the business isn’t final yet and can’t be until the sale is completed.