Dubuque building owner says landmark’s sale is close
DUBUQUE — The owner of a crumbling Dubuque landmark acknowledged missing another court deadline but said he’s close to selling the 120-year-old former brewery to a Cedar Rapids developer.
Jim Krueger, owner of a part of the former Dubuque Malting and Brewing Co. headquarters, agreed to a court order last month to stabilize or demolish a collapsed portion of the building by Nov. 9, the Telegraph Herald reported.
No work has been done so far, but Krueger said he has a purchase offer from SLE Investments, which intends to turn the building into apartments. While a sale has yet to be finalized, Krueger said they’re close.
“It is in the process of being sold,” Krueger said. “They’re waiting for the abstract and stuff. We will close as quickly as we can. … The city knows that. Everything is being handled accordingly. Everything is going fine. It will be the finest place in Dubuque.”
Keith Wiggins, a real estate agent with NAI Iowa Realty Commercial representing SLE Investments, could not be reached for comment for this story.
The $40,000 purchase agreement had listed Nov. 1 as a closing date, but that has been delayed to Dec. 1.
Assistant city attorney Maureen Quann said city officials are aware that a sale is imminent. She said the company has inquired about potential loans, grants and other financing from the city, but she does not know their exact plans for the building.