Developer Tim Rypma, doing business as Threshing Warehouse LLC, has acquired warehouse property at 108 E. Fourth St. in Des Moines for $1.6 million, Polk County real estate records show.
Rypma acquired the property from Steven and Diane Kreutzer and Lori and Mark Klein.
According to information on the city of Des Moines’ website, Rypma is proposing a $13.7 million historical renovation of the two-story, 41,000-square-foot masonry building that was constructed in 1895. The building will be converted to office space, according to the website. Rypma is seeking state and national historic tax credits for the project and the city council in June approved an Urban Renewal Development Agreement…