City of Moline Committee-of-the-Whole/Council Minutes 2026-06-09
Moline to purchase 1601 River Drive commercial building
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Description
The City of Moline approved an Asset Purchase Agreement with Kaizen Company of America LC and Riverstation on Bass Street, LLC to acquire the building and related assets at 1601 River Drive for $1,650,000. The deal preserves existing leases, supports downtown and riverfront redevelopment, and settles ongoing ground lease litigation.
Contract Details
Contract Amount
$1,650,000
Vendor
KAIZEN COMPANY OF AMERICA LC
Agency
City of Moline city, IL
Contract Type
FACILITIES
Document Date
June 9, 2026
Renewal Info
City plans to finance the acquisition with market instruments and maintain existing tenant leases; acquisition also resolves and dismisses ground lease litigation.
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