Jeff and Kim Young's We Can Build It LC has paid $1.26 million for the Midland Building at 206 Sixth Ave. in downtown Des Moines.
The deed was recorded Monday in Polk County. The Youngs have been noted as builders and remodelers of residential properties but recently have taken an interest in commercial properties.
The Midland is the last of notable downtown buildings that wound up in the hands of lenders during the financial crisis.
We Can Build It bought the property from Community State Bank in Ankeny, which obtained the property after the death of businessman Ed Boesen.
The Youngs could not be reached for comment.
The Polk County attorney's office currently occupies space on the first floor of the building, but will move out after the renovation of the former J.C. Penney's building, which was bought by the county as part of an elaborate land swap to clear way for expansion of Polk County court services and further commercial redevelopment downtown, including the renovation of the former Polk County convention center into a state-of-the-art YMCA.
The Midland also has been landlord for several startup businesses. According to the Polk County Assessor, the 1913 building is valued only at $100, but the land is valued at $854,900.