As those corridors were sold off, a critical component of each conveyance was that the Bankruptcy Trustee expressly reserved and excluded from the interests conveyed the EXCLUSIVE, PERPETUAL RIGHT TO GRANT EASEMENTS on, in, under, over, above, across, and along the
As that bankruptcy wound down in 1984, the Rock Island changed its name to the Chicago Pacific Corporation (“CPC”), and the Bankruptcy Trustee conveyed the remaining assets of the bankruptcy estate to the CPC. Among the residual interests remaining in the bankruptcy estate which CPC became the owner of were the reserved exclusive, perpetual easement granting rights over the corridors that had been sold, as well as other yet unsold corridors.
CPC continued to sell off Rock Island corridors, following the protocol established by the Bankruptcy Trustee, by reserving and excluding the exclusive, perpetual easement granting rights from those corridor conveyances.
In 1985, Rick Stickle, the sole owner of the Hawkeye Land companies, contracted with CPC to acquire all remaining real property interests of CPC located in 64 Iowa and two Minnesota counties. As a result, CPC granted quitclaim deeds to Hawkeye Land Co. for 64 Iowa counties, six South Dakota counties, and two Minnesota counties.
In 1987, Rick similarly contracted with CPC to acquire all remaining real property interests of the CPC located in fifteen Illinois counties, seven additional Minnesota counties, and in twelve Missouri counties. Accordingly, CPC granted quitclaim deeds to Hawkeye Land Co. of Illinois for those fifteen Illinois
counties, and to Hawkeye Land Co. for the additional seven Minnesota and twelve Missouri counties. Included in the interests conveyed to Hawkeye Land in each of those 106 counties were the exclusive, perpetual easement granting rights, which rights had been expressly reserved from the corridor conveyances to the operating railroads. Each quitclaim deed conveyed “all right, title, and the interest of the Grantor wherever evidenced, monumented or located in the County”, and goes on to include express language as to the exclusive perpetual easements rights which Hawkeye Land acquired. Thus, Hawkeye Land became the owner, not of the corridors themselves, but of the exclusive, perpetual right to grant easements “on, in, under, over, above, across and along” all corridors located in 106 Midwest counties in five states.
Hawkeye Land also acquired from the CRIP hundreds of parcels of real estate owned by the railroad (i.e. - terminals, stock yards, rail yards, secondary tracks, abandoned right of way, etc.). While not actively marketed, those parcels are sold from time to time. Anyone interested in acquiring one of those parcels should contact us for further information.
Since 1985, Hawkeye Land has managed these holdings, selling both crossing and longitudinal easements to utilities, municipalities and other applicants. In addition, we sell real estate parcels out of our portfolio. We are based in and operate from Cedar Rapids, Iowa.