Home Local News DOWNTOWN’S BADGEROW BUILDING SOLD AT AUCTION

DOWNTOWN’S BADGEROW BUILDING SOLD AT AUCTION

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THE FUTURE OF SIOUX CITY’S DOWNTOWN BADGEROW BUILDING IS UNCLEAR AFTER THE BUILDING WAS SOLD AGAIN AT AUCTION WEDNESDAY.

THE ONLY BIDDER AT THE WOODBURY COUNTY COURTHOUSE WAS CEDAR RAPIDS BANK AND TRUST, WHICH HAD FILED A FORECLOSURE ON THE BUILDING LAST YEAR WHEN THE FORMER OWNER, MAKO ONE CORPORATION OF CALIFORNIA, DEFAULTED ON A SIX MILLION DOLLAR BOND AGREEMENT WITH THAT BANK.

THE CEDAR RAPIDS BANK AND TRUST SUBMITTED A ONE MILLION DOLLAR BID ON THE 12 STORY BUILDING LOCATED AT 4TH AND JACKSON STREETS.

THE FORMER DEVELOPER, BRUCE DEBOLT OF MAKO ONE, PREVIOUSLY INTENDED TO TURN THE BUILDING INTO A DATA CENTER AND ATTRACT SUBSIDIARY BUSINESSES TO LOCATE THERE.

THOSE PLANS NEVER FULLY MATERIALIZED AND THE BUILDING FELL INTO DISREPAIR OVER THE YEARS.