A foreclosure sale of Memphis' tallest building has been pushed to Aug. 16 as court-ordered work to secure the building continues.
100 North Main's lender this week once again delayed a scheduled foreclosure sale on the Judge D'Army Bailey Courthouse steps.
The sale has been postponed repeatedly since last fall as the lender gave the building owner more time to avert foreclosure.
The building has been substantially vacant for more than three years and the focus since August 2015 of an Environmental Court case for fire safety and code violations.
The owner proposed to convert the office tower to mixed uses including apartments and a hotel, but hasn't come up with financing to pay for it.
Workers on Thursday were adding new protective barriers around the perimeter of the building at the southeast corner of Adams and Main. Since early this year, the building has been cordoned off by chain-link fencing that impedes pedestrian access on Main and Adams.
After a fire on upper floors in March and reports of people trespassing in the building, the court ordered enhanced security measures including a plywood security fence, live personnel security monitoring, sealing of ground floor openings, exterior lighting and live 24-hour camera monitoring.
A prominent Memphis address after its 1965 completion, 100 North Main was listed on the National Register of Historic Places in 2015 as an example of mid-century modern architecture.
A lawyer for building owner IMH Memphis told Environmental Court a year ago that the holdup to development was getting a commitment for $60 million to $70 million in financing.
