Former Federal Reserve building in Kansas City set for auction

Thursday, January 31, 2013 | 7:54 a.m. CST; updated 9:14 a.m. CST, Thursday, January 31, 2013

KANSAS CITY — The former Federal Reserve Bank of Kansas City building is scheduled to hit the auction block.

The Kansas City Star reported that the 21-story downtown building will be sold Monday in a trustee auction at the Jackson County Courthouse. The move comes after a five-year effort by a developer to revive the building, which has been on the National Register of Historic Places since 2007.

Great Western Bank of Sioux Falls, S.D., holds a $14.3 million promissory note on the vacant property, which was bought in 2005 for $12 million.

The Kansas City Federal Reserve has been in a new building since 2008.

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