Moline-based Centennial Contractors has bought the former K's Merchandise, 1320 W. Kimberly Road, Davenport, and plans to turn it into a space for retail businesses.
The 79,000 square-foot building was listed for $1 million, but Centennial co-owner Zack Sottos said they bought it in December for $850,000.
Mr. Sottos said he and co-owners Jim Massa and Jayme Massahave the property listed with Ruhl and Ruhl Realty. If they are unable to resell it, they will subdivide it into two retail spaces for lease.
"I think it's a good area; we've been watching it for a while," Mr. Sottos said. "The building is in great shape, and everything's functional."
He said they have removed all the shelving inside and are cleaning up the outside, and they are workingwith the city of Davenport to draw up plans to subdivide the lot.
Centennial wants to parcel the corner of the parking lot on Marquette Street and Kimberly Road to attract another retailer or restaurant, Mr. Sottos said.
Today is Saturday, May 18, the 138th day of 2013. There are 227 days left in the year. 1863 -- 150 years ago: A large variety of children's wagons and gigs have arrived in thecity and are being sold at war prices. 1888 -- 125 years ago: All Rock Island retail houses, with the exception of a clothingstore and a jewelry store, have agreed to early closing hours during the summer months.The store will be closed at 8 p.m. 1913 -- 100 years ago: Baseball enthusiasts in Rock Island are attempting to raise$20,000 to keep the Island City Park open, despite the fact that the city has no franchise inorganized baseball this year. 1938 -- 75 years ago: The organization of a third rural young people's unit will beundertaken tomorrow night at the Milan Presbyterian Church, with Mrs. Mildred K.Wellman, home advisor, and Robert Smith, county farm adviser in charge. 1963 -- 50 years ago: Deere & Co. will begin a "big switch" on its telephone systemMonday morning. The extension numbers of all 1,600 telephones on the firm's EastMoline and Moline exchanges will be changed Monday morning. 1988 -- 25 years ago: East Moline's June Jamboree VI -- Nostalgia Days, will seemlike a '60s revival with the appearance of stars like Bobby Vee, Freddie Cannon, PeterNoone, Turtles, The Grass Roots and Lou Christie. This year's festival has beenexpanded to five days, June 22-26, at the Northeast Park complex.