ST. LOUIS – One of the most familiar buildings in downtown St. Louis has sat vacant for several years, but it seems change is on the horizon as it heads to the auction block.
The 44-story building at 909 Chestnut Street, formerly known as One Bell Center or the AT&T Tower, is up for auction from Dec. 11-13, according to online marketplace Loopnet. Bids for the property will start at $2.5 million.
The former AT&T tower is considered one of the largest office buildings not only in the St. Louis region, but all of Missouri. It covers more than 1.4 million square feet. In the present day, the building is owned by New York-based developer SomeraRoad, Inc.
The building has been vacant since fall 2017, when nearly 2,000 employees were relocated to other downtown offices. The U.S. Bank National Association Trustee immediately foreclosed the building after the departures.
Loopnet says the property is located in an “opportunity zone,” offering significant tax benefits to new ownership. It says that $80 million in state and federal historic tax credits are available towards a redevelopment plan.
The property is listed on behalf of power broker Matt Bukshtaber with CBRE.