It’s a new chapter for the Badgerow Building in downtown Sioux City.
It was auctioned off for $1 million Wednesday.
It will now be owned by a Cedar Rapids bank, the only bidder.
Cedar Rapids Bank and Trust foreclosed on the building after the previous owner defaulted on a bond agreement.
Economic Development Specialist Chris Myers says many companies across the Midwest had previously shown interest in the building..
“We’ve had several developers, from around the Midwest, have shown an interest in that property. Most likely for mixed-use development, residential on the upper floors, commercial on the first, or first and second floor,” said Myers.
The new owners are not saying what future plans for the property are at this time.