The commercial property at 1110 Second St. went on the auction block Monday afternoon, with a price starting at $7,500. Drawing no bidders, the price was dropped to $5,000 but with the same result.
In the end, the auction of the 117-year-old building was closed scarcely five minutes after opening, with the property unsold.
The Earlham Savings Bank is the current deed holder, having foreclosed in December 2016 on the previous owner, Enriquez Bruno, who once operated a restaurant business called Bosco’s Grill at the location. The Casa de Oro Mexican Restaurant also operated out of the location.
The Dallas County Assessor’s total 2017 assessed valuation of the property was $73,290. The portion of the property zoned commercial was assessed at $62,297, comprising $8,500 for the land and $53,797 for the building. The multi-residential portion was valued at $10,993, comprising $1,500 for the land and $9,493 for the building.
Property taxes on the 8,000-square-foot building were $1,642 in the 2016-2017, facts brought forth by the auctioneer, Kelly Daugherty of Adel-based Daugherty Auction and Real Estate Services Inc.
The end result of this auction does not surprise me in the least. This particular building has had significant issues for decades. I am loathe to see any building downtown fall, but this one may need to. The Nudgers have done magnificent work restoring two buildings here that were in very sad states. I’m not so sure this building is worth their efforts. Perhaps a vacant lot in its place would be great for a combination of additional green space and car parking. The alley there could use some work too. It wouldn’t take much cash and effort to spruce up the backsides of those properties along that alley from Second Street to La Poste.