Tuesday, March 02, 2010
Asking Way Too Much
The Zimmerman Associates building at 400 N. Tucker is listed for sale. Originally a Hertz rental car facility, this free-standing, two-story, 2,400 sf building was built in 1960 and gut rehabbed in 1999 to include exposed brick walls and terrazzo floors.
The building is situated on a large (8,357 sf) fenced lot with attached parking, and there is abundant additional parking available in surface lots and garages nearby.
Its prominent location at the corner of Tucker and Locust make it a prime candidate for infill development, and is likely the reason for the exorbitant asking price of $1,178,750.
At that price and in this market, I can see this property sitting vacant for a long time. It's a shame, too, since Tucker could really use some added density. Along with the U.S. Bank branch across the street, it's one of two sorely under-utilized parcels along this prominent boulevard.
Anthony Burgio of Prime Properties is the listing agent - (636) 797-4770.
(BTW, is Zimmerman Associates still in business?)