New Life For Historic Building

Condos planned for downtown Plattsmouth.

The Cassgram reports that three investors have completed their ‘flip’ of the property on the northeast corner of 6th and Main to the point where showings of the 19 condominium units are underway.

Three of the four commercial bays on the first floor have tenants. The largest construction project left is installation of an elevator in the three-story structure and that is expected to be completed in about ten weeks.

KKM Real Estate Investments, LLC, of Omaha completed the purchase of the building in August of 2008 from the City of Plattsmouth which was in a foreclosure proceeding against the previous owner. Cass Partners had fallen far behind in payments on a Community Development Block Grant loan and owed about $220,000. The city worked out a deal with KKM and the $168,000 cash from the KKM purchase went back into the city’s housing re-use fund.

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