NOTABLE TRANSACTIONS: Historic fire station that housed Social Club sold for $2.3 million
BPC Staff Jun 7, 2022 | 10:23 pm
2 min read time
462 wordsAll Latest News, Real Estate and DevelopmentThe sale of the building that was home to historic Central Fire Station No. 1, and more recently the Des Moines Social Club, has been sold to a group of local buyers, Polk County real estate transactions show.
Dingel Properties LLC and Millang Properties LLC paid DMSC Building LLC $2.3 million for the property at 900 Mulberry St. in Des Moines, Polk County real estate records show. Dingel Properties is managed by Tyler Dingel; Millang Properties is managed by Todd Millang. Both are senior vice presidents for CBRE|Hubbell Commercial.
The property includes the former fire station, which was constructed in 1937. The nonprofit Des Moines Social Club purchased the property in 2012, paying the city $600,000. The property was transformed into an arts and cultural center.
The Social Club made nearly $7 million in improvements to the property, according to information provided to the Des Moines City Council in December. The renovations exceeded the group’s fundraising total of $4.3 million, “causing constant pressure on their operating funds,” the city document said.
In April 2021, a group that was put in place to reimagine the campus and business model announced the property would be sold. An offer to purchase the property was made by an out-of-state buyer, who later backed out of the deal.
The property is valued at about $2.8 million, according to the Polk County assessor.
The transaction was recorded June 1.
In other transactions:
Div Clipper LLC, located in Overland Park, Kan., paid 1817 Euclid LLC $1.7 million for property at 1817 Euclid Ave. in Des Moines, records show. The nearly 5-acre parcel includes a 19,125-square-foot metal building erected in 1974, a 2,500-square-foot office building and 6,000-square-foot warehouse. The property is valued at $749,000. The transaction was recorded May 31.
Property in West Des Moines at 640 S. 50th St. that includes commercial and residential uses has been sold for $9.37 million, records show. The buyer of the property is listed as 2026 South Hammond Road LP. Yoshiteru Koide, founder of ProbioFerm, a biotech company with offices in Urbandale, is a managing partner in 2026 South Hammond Road LP, records show. The seller of the mixed-use property is Fox Prairie Investors LLC, managed by Hubbell Realty Co. The transaction was recorded June 3.
DALLAS COUNTY
Iowa MHPS LLC, located in Sacramento, Calif., paid B&C Iowa Property Inc. $2.25 million for property at 613 Polk St. in De Soto, Dallas County real estate records shows. The 17.3-acre parcel includes a manufactured home park. The property is valued at $677,573. The transaction was recorded June 1.
Travis and Sarah Black paid Dizdar Homes LLC $1.2 million for property at 3600 N.W. 178th Court in Clive, records show. The property includes a one-story house constructed in 2022. The transaction was recorded June 1.