City to sell historic La Crosse building for $10

Over $300,000 has been invested in old Buzz’s Bike Shop.

Typically successes in business revolve around buying low and selling high.

The city of La Crosse is taking the opposite approach with the old Buzz’s Bikes building on the north side.  

The city plans to sell the 130-year-old former bank and Masonic temple on Rose St. for $10. 

Between purchase, back taxes and repairs, the city has put more than $300,000 into the building since it was purchased three years ago.  

Months of negotiations with RMD Development LLC have led to the agreement.  

The sides await approval this week by the city council.

RMD Development pledges to revitalize the old Magill Bank and Masonic Temple by putting two high end apartments on the second floor and commercial space on the first.

The city maintains that the building is “essential” for the economic vitality of the north side and the benefits of developing it far outweigh the costs incurred by the city.