We were in the neighborhood the other day and passed by the Independence Press Building at 11th & Green. For what felt like the hundredth time, we thought to ourselves how great it would be if this place would get rehabbed already. Earlier this year when we told you about another proposed project on this block, we mentioned this property as a tremendous development opportunity in a growing neighborhood.

On Green Street

Further back

Looking up on 11th Street

When we passed by, we noticed something new and different about the building. Some signage had been added that made up extremely optimistic that it would soon change hands and could receive the attention it deserves in the near future.

Heck yes

From what we understand, the property will be going to auction in November. No word on an opening bid price, but we’d have to imagine it will be lower than the $7M+ number the owners were seeking when it was previously on the market. We had never heard of Maltz Auctions before, but they apparently run auctions all over the country.

And what will a new owner get, you may ask? An old building on an 18K sqft lot with roughly 156K sqft of interior space. And it gets better. Permits are apparently in place to convert this building into 92 residential units with 92 parking spaces. And all of the demolition and environmental remediation are completed. Seems like all that’s missing now is an owner with a vision and access to some serious capital.