March 21, 2019

A former bank building on East 10th Street has been demolished, and the land is being offered for sale or as a build-to-suit arrangement.

Owner Mike Schultz of Mike Schultz Cos. had been planning to lease out the former First Savings Bank at 2301 E. 10th St.

“I started to remodel it, and it got to be so expensive,” Schultz said of the building from the early 1970s. Efforts to find tenants while the work was being done also didn’t lead to any commitments.

“I decided to tear it down and start over. We’ll build to suit or sell the land, whatever comes first.”

The site is on the same block as the new Security Savings Bank building, which opened in April 2018, and while some properties in the area are older, “it’s filling in with some new things,” Schultz noted.

He’s in the process of renovating a nearby building that he has owned for four years. When the most recent tenant, Falls International Market, closed, Schultz decided he’d move his own office there.

In addition to his real estate holdings, Schultz is a real estate agent and owns a commercial and residential construction company, auto-repair businesses and a used-car dealership.