  Magnetometry, electrical transport, and neutron scattering measurements were
performed on single crystals of the Fe^{4+}-containing perovskite-related phase
Sr_3Fe_2O_7-x as a function of oxygen content. Although both the crystal
structure and electron configuration of this compound are closely similar to
those of well-studied ruthenates and manganates, it exhibits very different
physical properties. The fully-oxygenated compound (x=0) exhibits a
charge-disproportionation transition at T_D = 340 K, and an antiferromagnetic
transition at T_N = 115 K. For temperatures T \leq T_D, the material is a
small-gap insulator; the antiferromagnetic order is incommensurate, which
implies competing exchange interactions between the Fe^{4+} moments. The
fully-deoxygenated compound (x=1) is highly insulating, and its Fe^{3+} moments
exhibit commensurate antiferromagnetic order below T_N ~ 600 K. Compounds with
intermediate x exhibit different order with lower T_N, likely as a consequence
of frustrated exchange interactions between Fe^{3+} and Fe^{4+} sublattices. A
previous proposal that the magnetic transition temperature reaches zero is not
supported.
