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ONLY ON 9: Gateway building being sold

Florida-based real estate investment company is purchasing building

NORTH SIOUX CITY, Iowa - It's a landmark building in Siouxland that's poised to have a new owner.

KCAU 9 News has learned that the former Gateway building in North Sioux City has a buyer.

The large black and white cow-spotted Gateway complex is being purchased by Keating Resources, a Florida-based real estate investment company that has Nebraska roots.

Keating's president tells KCAU 9 that his firm is under contract to buy the Gateway property.

He says he expects the deal to close within the next few weeks, but he's not ready to disclose the purchase price.

The complex has been listed by realtors for $15-million on previous occasions. Experts say the land alone is worth $5-million to $7-million.

The Gateway facility was constructed back in the 1990's after Gateway Computers moved from Sergeant Bluff to North Sioux.

Keating's president says the firm isn't sure yet what it will do with the property; he says they're still doing their due diligence on it.

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