The owner of the historic Jenifer Street Market says he has overcome the impossible and purchased the land he used to rent, ensuring the 40-year-old market will continue serving residents on Madison’s east side.

Owner Steve McKenzie tells NBC15 that he was able to outbid seven other parties at a closed-door auction Monday night at the Continental Hotel.

This comes after Schoep’s Ice Cream filed for receivership which, like bankruptcy, requires the company to sell off its assets – including the property Jenifer Street Market rents for its building, located next door to the ice cream factory at 2038 Jenifer St.

It was at Monday's auction where Schoep’s sold off many of its assets, including the property where the market sits.

McKenzie tells us that the purchase was only possible because of a

to help him save his business.

In early December, east side residents formed the Shenk-Atwood-Starkweather-Yahara (SASY) Business Development Association. Their goal was to raise $100,000 to help McKenzie buy the land he rents.

SASY president and CEO Trevor Fink says the fundraiser raised almost $70,000 to help McKenzie buy the land the market rents from Schoep’s.

McKenzie did not disclose how much the purchase cost on Monday.

The next step for the Jenifer Street Market is to get approval from the Dane County Circuit Court, which is set to review financial documents regarding the purchase on Wednesday.

McKenzie and his partner have

for 40 years.