Processing of the low workability Fe-Co-1.5V (Hiperco ® equivalent) alloy is demonstrated using the Laser Engineered Net Shaping (LENS) metals additive manufacturing technique. As an innovative and highly localized solidification process, LENS is shown to overcome workability issues that arise during conventional thermomechanical processing, enabling the production of bulk, near net-shape forms of the Fe-Co alloy. Bulk LENS structures appeared to be ductile with no significant macroscopic defects. Atomic ordering was evaluated and significantly reduced in as-built LENS specimens relative to an annealed condition, tailorable through selection of processing parameters. Fine equiaxed grain structures were observed in as-built specimens following solidification, which then evolved toward a highly heterogeneous bimodal grain structure after annealing. The microstructure evolution in Fe-Co is discussed in the context of classical solidification theory and selective grain boundary pinning processes. Magnetic properties were also assessed and shown to fall within the extremes of conventionally processed Hiperco ® alloys. Hiperco ® is a registered trademark of Carpenter Technologies, Readings, PA.