SIOUX CITY, Iowa (KCAU) – Numerous properties on Sioux City Historic 4th Street including Aalfs building are now owned by Ho-Chunk.
Ho-Chunk Capital said in a release that they finalized the purchase of the 78,527 square feet of properties from the Aalfs family on Friday.
Dennis Johnson, CEO of Ho-Chunk Capital, said he looks forward to preserving and revitalizing the downtown properties in the 1000 block.
“This purchase symbolizes Ho-Chunk Capital’s growing investment in the future of Sioux City. We are honored to work with the Aalfs family to continue local ownership,”
Ho-Chunk, a division of Ho-Chunk, Inc., said the Aalfs family have been central figures in the revitalization of Sioux city’s downtown, adding that Jack Aalfs wanted to preserve the historic integrity of the area while also offering an opportunity for small business development.
“The decision to sell our properties was not an easy one, so it was important to us to find a buyer that shared our commitment to Sioux City and its history,” Aalfs said. “We believe that Ho-Chunk Capital has demonstrated that commitment, and we are excited for the future of Historic Fourth in their hands.”
In addition to the five-story Aalfs building at 1005 Fourth St., the purchase includes adjacent parcels of 1019-23 Fourth St., 1014 Fourth St., 1016-24 Fourth St. and 1010-12 Fourth St. Some commercial tenants at these properties include Buffalo Alice, Antiques on Historic Fourth, M’s on 4th and SoHo Kitchen & Bar.
Ho-Chunk Capital said it will develop long-term plans for the buildings to preserve and renovate them to historic standards, while also creating new opportunity for commercial and residential tenants.