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Economy

SOLD! Former Bitco HQ

An office building in downtown Rock Island has been sold to the highest bidder. Over the past three days, the former Bitco Insurance headquarters was on the auction block on a website called, "Tranzon." It's located on 18th Street at Third Avenue.

Bidding closed late this afternoon, and the sales price is $244,750. Whoever bought it got a bargain, because the property is assessed at $1 million.

Bitco, formerly known as Bituminous Insurance, moved into a new building in Davenport, just south of the Rave cinemas.

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An office building in downtown Rock Island will be sold today to the highest bidder. The former Bitco headquarters at 320 18th Street is on the auction block on a website called, Tranzon.

It says the property was assessed at $1 million but will be sold no matter what the top bid is. At 12:17 p.m., the high bid was $80,000. 

Bitco, formerly known as Bituminous Insurance, moved into a new building in Davenport, just south of the Rave cinemas.

Bidding is set to end at 2 p.m.
 

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