SOUTH BEND – Inside South Bend's Chase Tower, Brent Sheppard said South Bend's tallest building offered his software company the best of both worlds.
"It was very handy to have a hotel attached to the office space where they could come in and be trained on our software and stay at the hotel," said Sheppard, who owns Xanatech, a software company.
Sheppard said before he moved in he saw and experienced problems.
"Probably about three months before we moved in, we found out the building had money issues because they had trouble finishing out our space," said Sheppard.
Sheppard is among four tenants who want the building sold. Sheppard said some of the tenants are running out of patience because of the building's condition.
For about a year, Sheppard said tenants have complained about:
- The condition of the parking garage, shutdowns, and deterioration.
- Loss of an upscale, full service hotel franchise
- Repeated elevator shutdowns and delays in service
- Water system shutdowns
- Cooling tower failures
- Roof leaks
"We all like coming to work in this building, we just want it repaired and taken care of," said Sheppard.
A last minute deal will allow a broker to try and find a buyer. But the sale price will rise from $6.5 million to $8.3 million because the lower amount wouldn't cover liens, taxes and other debts.
"This is a good development," said Mayor Pete Buttigieg. "I want the building sold and I want it sold to good hands."
In the listing agreement and contract, HREG -- a Colorado based company -- will give the building national exposure to try and find a buyer by May 15th.
But at $8 million, is a sale realistic?
Will Mayor Pete Buttigieg support using taxpayer money?
"I'm open to it, but I’d rather resolve this without using tax payer funds," said Buttigieg. "The building does require some work, and that's going to cost money."
Common Council member Henry Davis said he was 'not happy' about the agreement.
He said the building is important to South Bend's future, but with the repairs needed he doesn't believe anyone will pay the $8 million asking price.
