One of downtown St. Louis' most recognizable office towers is about to go under the gavel. Bank of America Plaza, the 30-story high-rise at 800 Market Street, is slated for a public auction next month after lenders moved to foreclose, raising fresh questions about what comes next for big office buildings in the city’s central business district. Tenants in the tower, nearby businesses and city officials are watching to see whether a new owner will try to reposition the property, convert parts of it, or simply hold the asset while a potentially lengthy legal process plays out.
KSDK reports that bidding is expected to start at $2,000,000, a striking contrast with the reported price tag of about $48 million back in 2010. According to KSDK, lenders have already moved to schedule a foreclosure auction for the tower.
Industry watchers saw this coming. The commercial real estate newsletter ConnectCRE had previously noted that the holders of the building’s debt were preparing a foreclosure sale and wrote that the step reflects mounting financial pressure on owners of large downtown office properties.
The Building And The Numbers
Property listings show that Bank of America Plaza at 800 Market Street totals about 749,857 square feet, with roughly 392,986 square feet currently advertised as available, a figure that highlights significant vacancy in the high-rise. The 1982-built tower is listed as a Class A office property by CommercialSearch, which also notes that large blocks of contiguous space are on the market.
Regional Pressure On Offices
The broader office market is not exactly giving landlords a break. CBRE's Q1 2026 Midwest figures show rising vacancy and negative net absorption in several regional markets, conditions that add pressure on owners of big, older office buildings. CBRE points to higher financing costs and tenant downsizing as key forces contributing to distress in sizable downtown office towers.
What A Buyer Could Do
Whoever prevails at auction will have some big decisions to make. A new owner could try to re-tenant Bank of America Plaza as a traditional office building, reposition it for a mix of uses, or pursue an adaptive reuse project that turns part of the tower into housing, a path that typically requires major upgrades. Across the country, more owners are at least considering office-to-apartment conversions, but those projects can be tough to pencil out. Stateline reports that some cities are cutting red tape and changing policies to make conversions easier, although high costs remain a central hurdle.
Next Steps And Local Impact
The lenders are expected to publish official sale notices and detailed auction terms ahead of the event, and prospective bidders and current tenants will need to keep a close eye on court filings and public notices for the exact date and conditions. City economic development staff and representatives for the building’s management did not immediately respond to requests for comment. This story will be updated as auction paperwork, bidder information or official statements are filed.
