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NOTABLE TRANSACTIONS: Dubuque-based credit union plans branch in Grimes


Dupaco Community Credit Union plans to open a branch in Grimes. The City Council in July approved a site plan for the project. Architectural rendering by Shive Hattery Inc.


Dupaco Community Credit Union, with offices in Dubuque, Wisconsin and Illinois, is moving into Polk County.

Dupaco paid Hy-Vee Inc. $1 million for 1.7 acres of farm ground at 1701 E. First St. in Grimes, Polk County real estate records show. The transaction was recorded on Aug. 3.

In July, the Grimes Plan and Zoning Commission and City Council approved a site plan for an 11,838-square-foot building.  

The site plan and information provided to the council or commission did not include the name of the financial institution that would occupy the two-story structure whose exterior would include brick and architectural metal paneling and a large glass-enclosed main entrance. The recent real estate transaction, however, indicates Dupaco will occupy the building.

Dupaco Community Credit Union, which opened its first office in 1948, has 19 branch offices, officials with the credit union said. In addition to Dubuque, branches are located in Cedar Rapids, Waterloo, Cedar Falls, 
Marion, Dyersville, Manchester, Carroll,  Galena, Ill., and Platteville, Wis.

The credit union, with over 131,000 members, has $2.2 million in assets, according to officials.

The parcel Dupaco bought from Hy-Vee was part of nearly 23 acres Hy-Vee bought in late 2018 for $3.85 million from Hope K Farms LLC.

Information included on city documents indicates Hy-Vee plans to build a store on 15.7 acres of the land it bought.

A spokesperson for Hy-Vee confirmed that the West Des Moines-based grocery store chain is planning a “flagship” store in Grimes. Details are being finalized, Tina Potthoff, Hy-Vee’s vice president of communications, wrote in an email.

“The store … will be unlike anything our customers have seen with design and amenities, but we are still finalizing those plans,” she wrote.

In other transactions:

Fareway Stores Inc. paid U.S. Bank National Association $350,000 for property at 2716 and 2718 Beaver Ave. in Des Moines, records show. A U.S. Bank that had been on the 0.63-acre site is closed. The transaction was recorded on July 31.

James Cord Jr. paid WHC LLC $1.29 million for property at 13031 Oak Brook Drive in Urbandale, records show. The 3.6 acres include an 8,948-square-foot house with 1,296-square-foot attached garage. The residence was built in 1981. The transaction was recorded on Aug. 3.

Cambridge Court Owner LLC of Kansas City, Mo., paid Haight & Associates Des Moines LP $17.2 million for property at 1205 11th St. in West Des Moines, records show. The 13-acre parcel includes a three-story, 192-unit structure built in 1992. The property is valued at $13.7 million. The transaction was recorded on Aug. 3.

Christine Lauridsen Sand Revocable Trust paid Terry and Mary Falk $1.16 million for property at 331 31st St. in Des Mones, records show. The 4.2 acres include a one-story, 4,515-square-foot single-family house built in 1983. The transaction was recorded Aug. 4.

6290 NE Industry Drive LLC, located in Waukee, paid DRA Properties LC $3.7 million for property at 6290 N.E. Industry Drive in Saylor Township, records show. The property, valued at $2.97 million, includes a 48,000-square-foot warehouse constructed in 2015. The transaction was recorded Aug. 5.

Hope K Farms LLC paid David and Susan Greiner $1.1 million for property at 6955 N.W. 100th St. in Johnston, records show. The 6.1-acre parcel includes a two-story single-family house built in 1993. The property was valued at $466,700, records show. The transaction was recorded Aug. 5.

DR Horton Iowa LLC paid Grayhawk Homes of Iowa Inc. $1.58 million for 40 lots for townhomes in the northern part of Waukee near Northeast Boston Parkway and Northeast Archer Drive, Dallas County real estate records show. The transaction was recorded Aug. 4.

This article been updated to include correct information about the transaction between James Cord Jr. and WHC LLC. A previous version included inaccurate information. 

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