Updated at 4:05 p.m. Sept. 3 with a statement from Greater St. Louis Inc.
The Wainwright Building in downtown St. Louis was sold to Arch to Park Equity LLC, the real estate fund coordinated by Greater St. Louis Inc., for $8.25 million last week, according to GovDeals, a government auction website.
The sale of the 234,600-square-foot state office building, at 111 N. Seventh St., was approved by the Missouri Board of Public Buildings on July 2. According to the St. Louis Business Journal, the fund purchased the building and all its contents for a total price of $8.4 million.
The Wainwright Building is considered to be one of the nation’s first modern skyscrapers. It consists of two structures, a 10-story office that was built in 1891 and a three-story building that was added in 1981. It was designed by architect Louis Sullivan for Ellis Wainwright, a local brewer.
In a statement attributed to Dustin Allison, its chief real estate investment officer, Greater St. Louis did not give any details about its plans for the Wainwright Building except to say it will be redeveloped.
"St. Louis is the economic engine of Missouri and restoring the core of St. Louis, particularly Downtown, is essential to the growth of our metro. As part of our ongoing efforts to revitalize Downtown St. Louis, Arch to Park Equity Fund LLC is pleased to partner with the State of Missouri to ensure that one of the most architecturally significant buildings in Downtown St. Louis will be preserved for future redevelopment.
"We look forward to working with the City and Downtown partners on a plan to develop the Wainwright Building and to continuing our partnership to revitalize Downtown and make it the safe, vibrant, and beautiful neighborhood at the heart of our metro,” the statement read.
The government auction site states the building has 16-foot ceilings that provide “a breathtaking view of the sky” upon entering. It includes mechanical, server and utility rooms, a private garage and multiple open courtyards. It is listed as a national historic landmark and has been on the National Register of Historic Places since 1968.
According to reports from the Business Journal, the building housed 400 employees from several state agencies. They will be relocated to another office site in St. Louis County.
The building auction closed Aug. 29 and has a 120-day closing period.
