The Court Square Building at Main Street near Cheapside — formerly home to Kelco and now housing companies including Skybar — is being sold. Commercial realtor Chris Mitchell or Rector-Hayden Realtors said a contract has been reached for the property at 269 West Main Street.
"We're waiting for the appraisal," he said.
Mitchell declined to identify the buyer but said it's a local entity. The current owner is 271 West Main Street LLC, which bought the building for $3.15 million in 2005. It was offered at $4.4 million, but Mitchell declined to disclose the negotiated price.
The nine-story building has three floors vacant, he said.
Built about 1905, the building was one of Lexington's first skyscrapers. With its richly plastered ornaments on the facades of its lower three and upper two stories, it once was the headquarters of the Lexington City National Bank and housed headquarters of local utility companies and the Lexington Street Railway Co.
More recently, it was the headquarters of Kelco, a Lexington company that made viatical settlements. The company closed about 2003 after some of its executives, including its founder, were convicted of fraud and other charges.