FD businessman plans to develop McGregors building downtown
13 May 2018
A Fort Dodge businessman plans to buy the McGregors furniture building and develop it into multiple retail stores to help revitalize downtown Fort Dodge.
McGregors Furniture & Mattress announced the closure of its Fort Dodge store in February.
Dave Madsen told The Messenger that he has a contract in place to purchase that property, located at 712 Central Ave.
Its net assessed value is $408,310, according to online records. It encompasses 16,800 square feet.
Madsen anticipates closing on the property in the next couple of months, he said.
Between four and six spaces could be available for rent inside the large downtown building.
“My intention is to turn it into several retail spaces,” Madsen said. “I am hoping to make them flow from one to the other without having to go outside to get to the other spaces.”
A timeline on the renovations is not yet available.
Madsen said the move fits well with his business plan.
“With Central Avenue making a resurgence, I want to be part of that and help that,” he said.