BLOOMINGTON (WEEK) – In a release from State Farm, they said a deal to sell their downtown building fell through.
Now, they said they plan to demolish the building because it is vacant, “without interest.” They said the process will start in a few months; adding they will have to dismantle the entire structure over the course of a year to minimize risk to surrounding buildings.
State Farm said, “Despite the best efforts of all parties, the purchase and sale agreement, which was announced in March, did not materialize.”
Any historical items from the building were removed for the company to display at their corporate HQ and other facilities.
Back in March, we spoke to the Bloomington-Normal Economic Development Council. They said people had expressed interest in the building at the time. The real estate broker said if they didn’t get enough commitments during their 90-day due diligence period of the agreement, they could pull out.