SOUTH BEND - City officials are considering spending up to $5.5 million to help rehabilitate the city’s tallest building.
Common Council members have received a resolution that says the 25-story Chase Tower “is in urgent need of repair and renovation” and its “economic viability ... is essential to the economic vitality of downtown South Bend.”
The resolution is scheduled to be on the agenda for the council’s next meeting, Oct. 24.
Ken Herceg, the president of an engineering firm that has had offices in Chase Tower since 1994, suggested to council members last month that the city explore a public-private partnership, such as buying and rehabilitating the building’s parking garage.
Herceg said the tower, which has been in receivership since February, is in such bad shape that several major tenants are thinking about leaving.
The 39-year-old building was owned previously by Dillingham Hill Real Estate. Huntington National Bank, which was owed $7.2 million, brought the issue to court in February, and a court-appointed receiver now is in charge of the property.
The resolution before the Common Council lists Care Hospitality Management Inc. as a potential buyer for the building.
Staff writer Kevin Allen: