WIUM Local
(2008-07-02)
The school board has accepted Baldridge Real Estate's offer of $550,000 for the 3.5 acres along Keokuk's Main Street.
The district's business manager, Greg Reynolds says the St. Louis-based development firm, which now has a 150-day option on the property, represents an unknown Fortune 500 retailer.
He says, if the sale goes through, the money could only be used for infrastructure improvements.
The offer is roughly $300,000 less than the district's original asking price for the vacant lot, which has been on the market for several years.
Reynolds says the district's long term plan calls for the property to be sold for commercial use. © Copyright 2012, wium
