Unidentified Company to Buy Downtown Bloomington State Farm Building
Written by kmmaye2 on March 6, 2019
BLOOMINGTON – The State Farm building has been a staple in downtown Bloomington since it’s construction began nearly 90 years ago. After the insurance giant moved all of it’s employees out of the building early last year, they are ready to move on.
State Farm has reached an agreement with an unidentified company who is interested in buying it. Jill Guth of Guth & Associates, the real estate company involved in the sale, explains the structuring of the deal.
“It allows us to spend about the next 3 months in due diligence to determine if we want to move forward with the final purchasing of the building,” said Guth.
The buyer is looking to utilize the building the way it has always been utilized: as an office space.
“Our goal really centers around the majority of the building continuing to be used as an office. We would be looking to lease out multiple floors to different office users.”
In addition, this will provide an opportunity for new local businesses to set up shop right in the heart of downtown.
“We imagine the first floor to have possibly retail and/or restaurant uses,” said Guth. “We think that street level lends itself to more of a retail or restaurant use as opposed to office, which should create a little more diversity in that area.”
Zach Wilson contributed to this story.