A pending sale of the First National Bank building on Main Street in Cottage Grove came as good news this week for those eyeing local economic development.
The bank is one of many vacant buildings that could provide an economic boost to Cottage Grove when filled, according to Sarah Mizejewski, the Director of the Community Development Corporation, whose office has taken on the task of finding new uses for the vacant spaces in town.
On Sunday, Gary Draper of Keller Williams Realty stated that the bank, which was built in 1910 and housed much of Cottage Grove’s financial wealth in its early years, is in the process of a sale to a local buyer, one interested in rehabilitating the building and “bringing back many of the historical elements that make it so special.”
“It’s about the best buyer we could have found,” Draper said, though he added that the work to restore the bank building could take years, as add-ons begun in the 1970s to convert the bank for use as office space have left any new owner with a lot of work to do. The building is currently owned by attorney Michael Genna and his wife, Claudia, and was recently listed with a $295,000 sale price.For the complete article see the 12-26-2012 issue.
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