Former Sears building auction closed, highest bidder at $1.2M for Peru facility

The former Sears building at 1607 38th St. in Peru is no longer up for auction, and the highest bid Wednesday came in at $1.2 million.

The property went up for auction Monday.

There is no information at this time about who placed the highest bid.

The property previously was up for auction in May, but the private investor from Tracy, California, who won the bid didn’t complete the deal.

The vacant one-story, 98,858-square-foot building closed in October 2017.

Mayor Ken Kolowski said he was happy someone was willing to invest $1.2 million into the community, but he acknowledged it is a wait-and-see situation, recalling the previous investor who fell through. He said the community will need to have patience, but he is hopeful the purchase will have a positive economic influence.