SOUTH BEND- The longer it takes to find a buyer for South Bend's tallest building, the more money it is likely to cost to fix up the building.
Mayor Pete Buttigieg won't rule out knocking down the Chase Tower, but also says the option is not close to happening. This morning the mayor continued to express frustration with the bank involved, because the building is now in receivership. He says they need to lower the price.
A local group of investors is interested in buying the tower. The mayor claims others are also interested and the company listing the tower also said this morning that multiple parties are interested.
The Chase Tower is losing tenants, and has been up for sale for more than a year. The mayor doesn't think the city is to the point yet where knocking down the building is the best option, but he won't take that option off the table.
“We don’t want it to come to that.” Mayor Buttigieg said. “To do that, then waste money or be in a situation where we get a bad fix and then 10 years from now, our successor is in the same situation. So it’s not out of the question. I don’t think we’re at that phase but nothing’s off the table.”
The Chase Tower is listed for 8.3 million dollars but the company listing it at that price told us this morning investors can obviously offer a price lower than that.