One of Downtown South Bend's landmark office buildings is close to being sold.
The First Source Bank building at Washington and Michigan is not owned by the bank, since day one, it has been owned by a limited partnership based out of Minnesota.
Now, that Minnesota partnership is poised to sell, not long after the city of South Bend agreed to contribute about $1.8 toward building improvements.
“Over the last couple of years there has been a lot of renovation a lot of work that has gone into it and in fact, what we tried to do I think has been accomplished,” said Richard Nussbaum an Attorney for the South Bend Redevelopment Commission. “One of the indirect benefits of that is you get other folks who are interested in investing in Downtown South Bend and there is a group out of Pittsburgh that wants to buy the building where First Source Bank is currently operating.”
The Pittsburgh group has arranged for financing from the Royal Bank of Scotland. The portion of the building that houses the Double Tree Hotel is not included in the sale.