The former U.S. Bank building at 205 Ellsworth St. looked like this on Saturday, July 1, 2023.
The former Community Branch of U.S. Bank in downtown Albany, vacant since the bank closed it in January 2021, has a new owner.
Mittleman Properties of Portland, which apparently took over the property from U.S. Bank, sold it to ABA Investments LLC of Salem for $625,000 on May 30, 2023.
The sales price shown on Linn County records was about half of the market value estimated by the county assessor.
I looked at the online records after noticing last week that the “for sale or lease” sign had disappeared from the building.
ABA Investments is a company incorporated in 2020 by Adam and Beth Anundi, the owners of a string of pawn shops including Capital Pawn on Pacific Boulevard in Albany. The other stores are in Portland, Salem, McMinnville and Beaverton.
I emailed Capital Pawn to inquire about plans, if any, for a use of the former downtown bank. In response I got a canned reply inviting me to shop online or to use an app “to access and pay on your layaways and loans.”
Someone I talked to at the Albany shop last week wasn’t at liberty to say much, but I learned the owners plan to remodel the former bank and don’t plan to tear the building down. (hh)
For years starting in 1977, I cashed my newspaper paychecks in this room, then the downtown branch of U.S. National Bank. This was shot last week.
How much did CARA pay for the WF bank which was a much less valuable building on an inferior lot? Now is the time for all you CARA lovers to tell us how wrong we were when we questioned the WF purchase. I’ve forgotten most of your comments.
I’ve got another question. Can anyone think of a profitable real estate decision the city has made?
Government doesn’t do things to make a profit. How clueless are you about how government works?
Government works 1) To enforce laws, 2) to provide services and 3) To do things to enhance the economic vitality of the city, by stimulating private sector investment.
Go down to the Chamber of Commerce and ask them how things have helped
Better yet, READ A CIVICS TEXTBOOK!
You get an F on understanding government.
Well, in looking at your three reasons for existence, I’m guessing they are failing.
The City of Albany was incorporated in 1864. It adopted a home-rule charter in 1891.
The City has operated, very successfully for 159 years, and has risen to a population of more than 57,000 people and may pass Corvallis in the next couple of years.
NO ONE is clamoring for it’s immediate dissolution. This city is a success.
You, MarK, are the one who insists of making statements that you can’t back up, trash talking the people of Albany.
Because MarK, you ignore that it’s the people that run the governments in America. We’re a representative democracy that just had it’s birthday.
You know Bob, you are right about this. YOU didn’t have to be snarky about it.
what you didn’t say anything about is:
government waste. Government will spend 5 times more funds doing something and then pat themselves on the back for doing it. Real stupid stuff like sending a
$700,000.00 fire truck along with an ambulance to help someone up who has fallen when they could have sent the two extra people in a little car. for a tenth of the money, when suggested, they said, “we thought about it and we do not think it would work.”
without even trying it, Strange how it works in dozens of other places. So the taxpayer foots the extra bill.
Many fire departments do the same thing, sending cumbersome fire trucks along with ambulance runs when there may well be no fire. The reasons are simple and should be easily understood by those who claim to be knowledgeable.
First, one must understand that driving a 40-foot, several-ton vehicle along city streets is challenging. Second, one can quickly understand – even with a cursory examination – that there are relatively few fires in the grand scheme of things.
Given these two conditions, many fire departments send trucks out on non-fire calls because those firemen tasked with maneuvering massive vehicles down crowded streets need the practice.
It is really rather simple and understandable if one takes the time to examine reasons not obvious to the outsider – someone with little understanding and even less curiosity. It strikes this avid Hering Fan that sending fire trucks out as often as possible is good for the safety of all.
They don’t send the trucks out for “driving practice”. They send them out so in case there’s a fire call, they don’t have to return to the station to swap vehicles.
I ASKED the AFD, how many extra people it took to help and was told the number was 2.
when you send a small rig instead of a fire truck you:1. spend 1/10th of the fuel, 2. 1/20 of the wear and tear. literally thousands of dollars difference. you can not use that truck if the two are still being used to help. once the help is rendered and they are free they then can go directly to a potential call, the truck from the fire house and the two from the last call. On average the truck would get there at the same time as the two people from the ambulance call. it’s true that if the fire was close to the last call but the law of averages also says it could be twice as far away Just wasting money
What level of risk are you willing to accept if it was your life the call was made for?
There is ZERO ADDED RISK and you are intelligent enough to know that.
“Government doesn’t do things to make a profit. How clueless are you about how government works?”
I don’t thing govt. was intended to lose its ass on every real estate transaction it conducts. Name 3 where it didn’t!
Nice to see we have local news on a holiday, thanks Hasso!
We have banked with US Bank since opening a joint account at the Corvallis branch in 1979 then banked at the downtown branch since 1983 after moving to Albany. I did miss them briefly when they closed that branch. However, these days my only visits to the physical bank are to use the ATM which is next to all the places I shop. Changing times.
When I was first elected to the Council many years ago, as a business person many people told me don’t expect the the city to run like a business cause it doesn’t happen. The city had many problems at that time including problems concerning ambulance service which I won’t go into.
When I needed ambulance service for my husband sometime back I ended of having about six people in my bedroom and on the bed helping my husband. Because the way our front door is located they couldn’t get e regular stretcher in the house so they took him outside with a canvas stretcher with handles on each side. It took more than the two ambulance drivers to assist. By bringing the truck if they get an another call after assisting the ambulance they can go on that call. Yes they could come in a smaller vehicle possibly some of the time. What I don’t like is, I heard and am not sure if it is true, that our people go to other cites to assist falls when that city should be the responsible party. Our employees need to stay here to assist our citizens
I think what you’re referring to is called “Mutual Aid”. Cities helping other cities when first responders are stretched. It can definitely be a life saver. First responders will actually “stage” in an area to be closer when/if needed. Everyone should be thankful for this effort.
Thank you MarK. That is a reasonable and appropriate answer.
I know what mutual aid is. What I am talking about is doing lifts to nursery homes in other cities because their fire department won’t buy equipment to do it. So they call Albany Dept. to do it. Considering what these homes charge our dept. should not be going out of town for free.
MarK is correct. Search for “Mutual Aid” on the city main page. Much info & history…
Albany use to stage at Goltra Rd and Hywy 34. I would see them when traveling to Albany from Lebanon. I presume for an assist for Lebanon. Then a No Trespassing sign went up. Not sure where they stage now.
Corvallis FD stages at Grainger and the 20 when Albany FD is swamped.
Aren’t the CARA investments supposed to increase property values and thus tax revenues? Not a great testament to the program’s effectiveness when downtown commercial real estate is sold at such a huge loss.
At a recent training for use of External Defibrillators for heart stoppage, I learned that the “district” or service area for our ambulance service is MUCH larger than the “district” or service area for the Albany Fire Department. The ambulance service has apparently contracted with multiple fire districts in the mid-valley to provide their ambulance service. I assume that it gives the ambulance service a broader base for providing income and saves very small (often volunteer) fire districts from having to provide the financial outlay to own their own ambulances and hire their own EMT’s.
I don’t believe that is quite right. Albany Fire provides fire and ambulance service to three rural fire districts under contracts going back decades and renewed every few years. And departments in Linn and Benton counties have mutual aid arrangements. There is no separate Albany ambulance service to contract with anyone.
Too bad this beautiful building was purchased I can only hope the new owners understand the value. This is one of the finest buildings in Albany. A beautifully designed and detailed example of mid-century architecture. It hails from the last days when banks were the heartbeat of a city. The large, soaring, nave like main space and the gorgeous materials are stunning. Its a gem. Difficult to believe it sold for a little over $600,000!
I’m glad it will have a new purpose.
I hope it’s not a pawn shop, however, downtown is known for it’s collectables and resale.
I like the angle you shot the photo from.