The regionally iconic Black’s Building in downtown Waterloo is set to go to an online auction after a potential buyer fell through earlier this year, according to the Waterloo Cedar Falls Courier. The building at 501 Sycamore Street is currently listed on the Ten-X auction site with an opening bid of $1million. Bidding is scheduled to begin Tuesday and run through Thursday. The listing reads, “ With its elegant entryway and first floor restaurant, 501 Sycamore Street boasts an eclectic tenant roster and some of the most eye popping interior and exterior designs in Waterloo’s Central Business District.” Proceeds from the sale will go to pay the debts of Black’s operator Midtown Development. They filed for bankruptcy in 2021 citing past flooding, COVID-19 closures and fallout from a scuttled restaurant deal. A $7.5million deal fell through when a Denver, Colorado based company tried to renegotiate the terms of the sale after months of delays.
