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BUSINESS BEAT: City of Coldwater sells Standard Oil Building for $65,000

COLDWATER, MI (WTVB) - The former Standard Oil building in downtown Coldwater at 92 West Chicago Street will be sold to Jim Gordon for $65,000 following an auction for the city-owned property which was held late yesterday afternoon before Monday night’s meeting of the Coldwater City Council.

The bids for the building started at $51,000. Gordon had originally put in a bid for $47,000 back in September and by city rule, it was put on the table. Tracy Kelley had submitted a bid of $50,000 before the October council meeting on the 14th when Gordon’s bid was due to come off the table. The Council’s solution was to put the property up for auction before last night’s meeting