Under $75K Thursday – c.1900 Iowa Former Bank For Sale $69K

$69,000

What a great building! This former bank for sale is a key, corner lot structure in a small town. Note the hardwood floors, high ceilings and wonderful bank vault door!

Realtor Comments 

Unlock the potential of this historic downtown gem! Once a bustling bank, this property is brimming with character and history, including an original vault and unique architecture. While it awaits your personal touch to transform it into a truly one-of-a-kind establishment, envision the possibilities for this space. With an apartment upstairs, you can live just steps away from your business venture downstairs. Seize this opportunity to own a piece of local history! We don’t own the rights to the historical photos.

• Circa 1900

160 S Jackson Street, Thompson, IA 50478

If interested in a property, please contact the realtor whose link is provided in the post below, or contact an agent of your own choosing. Independent verification of details and status is recommended. 

Contact Realtor: Realty ONE Group Black Diamond

Google Map

Niche

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History

“Thompson was without a bank for over a year after the First National Bank shut its doors on June 26, 1932, and the State Bank of Thompson and First National Bank of Thompson failed. The Peoples State Bank opened in Thompson on August 1, 1933.” Per Wikipedia

At the time of the bank’s closure, population of Thompson was less than 400 residents.

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Location of This Iowa Former Bank For Sale

Pros of Thompson, IA

1. Community Spirit: Thompson (pop 489) has a friendly, tight-knit community where residents often engage in local events and support one another.
2. Low Cost of Living: The cost of living is generally low, making it an affordable place to live, especially for families and retirees.
3. Rural Charm: The town offers a peaceful, rural lifestyle with beautiful landscapes and open spaces, ideal for those seeking tranquility.
4. Outdoor Activities: Residents can enjoy outdoor recreational opportunities, including fishing, hiking, and biking, particularly in nearby parks and natural areas.
5. Local Events: Thompson hosts various community events and festivals throughout the year, enhancing local culture and camaraderie.

Cons of Thompson, IA

1. Limited Job Opportunities: The job market can be limited, with fewer employment options available locally, which may require commuting to nearby towns.
2. Limited Amenities: Thompson has basic amenities, but options for shopping, dining, and entertainment are quite restricted compared to larger towns or cities.
3. Transportation Needs: Public transportation options are minimal, making personal vehicles necessary for getting around.
4. Harsh Winters: Winters in Iowa can be cold and snowy, which may not appeal to everyone and can affect outdoor activities.
5. Population Decline: Like many small towns, Thompson may face challenges related to population decline, impacting community vibrancy and resources.