Walnut Ridge reopens bids on Old Citizens Bank building

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WALNUT RIDGE, Ark. – It was almost the home to a new burrito-builder business but the bids were too low for the Walnut Ridge City Council and so, the building is back on the market.

The Old Citizens Bank building, West Main Street in Walnut Ridge, was announced Tuesday to be once again eligible for a second round of sealed bids.

At July’s Walnut Ridge City Council meeting, only two bids were received and the highest was close to a third of the appraised value. The council unanimously rejected the bid.

City Alderman Jon Walter said the appraised value was too low, anyway. Walter shared several photos of the building on Tuesday. Walter said the city had placed the sign on the building Tuesday, hopefully to attract more interest.

The minimum bid for this round is not being kept secret and is $20,400.

Contact Walnut Ridge Fire Chief Frank Owens to arrange a walkthrough of the building at 870-886-6631.

Sealed bids will be opened on August 11 at 4 p.m.

 

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