Second online auction for former federal building starts

Thursday, November 10, 2011
The old Federal Building in Cape Girardeau (Fred Lynch)

After three parties backed away from bids to buy the former federal building, a second online auction began Wednesday afternoon in an attempt to unload the government-owned property at 339 Broadway.

The 44-year-old building is again up for grabs at, with the bidding starting at $25,000. In the previous auction, the top three bidders withdrew their offers for "undisclosed reasons," said Angela Brees, spokeswoman for the General Services Administration. According to the invitation for bids, the auction will be conducted over several weeks as determined by bid activity. The closing date will be announced on the website three business days beforehand.

Brees said the three bidders who backed out -- which cost the top two their $25,000 deposits -- did not do so because of any problem with the building. The building is available for inspection upon the request of the bidder, but she said that the GSA visits the building once a day and there are no "observable" problems. But the invitation for bids does say that the building is being sold "as is." The last asking price for the building was listed at $750,000 and drew top bids in the last auction of $625,000 and $615,000.

"We remain confident we'll be able to sell the building," Brees said. "We'll see where this second auction takes us."

The only public entity that has expressed interest in the building is the Cape Girardeau County Commission, though it has not said whether it was one of the bidders.


Pertinent address:

339 Broadway, Cape Girardeau, MO

Map of pertinent addresses

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