Just a few weeks after buying the former Zahn’s building, the downtown Racine landmark may get sold again.
The Journal Times is reporting that Bachan Singh said he isn’t sure if he’ll remodel the building before selling it or just put it back on the market as-is.
“We have a few people looking into it seriously. It is going to get sold pretty soon,” he told the newspaper.
Singh is a real estate developer from Brookfield who also owns a string of gas stations. He bought Zahn’s for $275,000.
The 40,000-square-foot building, which was founded by Edward Zahn in 1898 operated as Zahn’s Department store, was owned by Tri-City Bank National Bank. Tri-City Bank inherited the building when it purchased the assets of the Bank of Elmwood when the Federal Deposit Insurance Corporation shut down the bank in September 2009.
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