Urban Land Interests hopes to buy 101 King St., which has housed Isthmus since 1992.
Since 1992, Isthmus has been located on the Capitol Square in a former bank building at the corner of King and Pinckney streets. With the sale of the paper in July, the building went on the market.
Brad Binkowski, one of the owners of Urban Land Interests, has signed an offer of intent to buy the building from its owner, Isthmus' founder Vince O'Hern. The company probably won't close on the deal until next year, Binkowski says.
ULI is not certain yet what it will do with the building, but Binkowski says he hopes to bring more people into it. "It's a great location on a street that's absolutely bustling with activity," he says.
Binkowski says he loves the building's natural light and mezzanine level. He imagines it could work well as a retail space or an entertainment attraction. It's unlikely it will remain as an office building, and installing a restaurant kitchen would be a challenge.
Meanwhile, Isthmus expects to move its offices to the State Street area sometime this fall. Publisher Jeff Haupt says the paper is considering a few locations. He adds that the paper is "committed to staying downtown."