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.
