Sale pending on Quad-City Times building in Davenport, could close in next few months

The Quad-City Times building at 500 E. Third St. in downtown Davenport could soon be turning the page to its next chapter.

The building was listed for sale in January for $4.2 million by Ruhl & Ruhl Realty and is now marked pending. The nearly 123,000 square foot space was the headquarters for the Quad-City Times since the building's construction in 1989.

Staff vacated the building Dec. 1, moving to East Moline, to the office formerly used by Blox Digital, a digital publishing software company that is majority-owned by Lee Enterprises.

Lee is the owner of the Quad-City Times/Dispatch-Argus, as well as other newspapers across 25 states. The company is headquartered at a separate corporate office in Davenport.

Looking to purchase the building is the Geifman Group, a business with more than 100 years of history in the Quad-Cities. The firm started in the grocery business in 1921 and has since transformed to focus on real estate development.

Steve Geifman, president of the Geifman Group, said Thursday his company is looking to purchase within the next 60-90 days and is currently doing its due diligence on the building. The plan is to purchase the building and rent it to multiple tenants - some of whom they are already in talks with.

"The location is phenomenal," Geifman said, adding the building is solid and has been maintained well. "It has the opportunity to be mixed use, with the office and the industrial (sides)."

Last summer, the Geifman Group purchased the former Pearson Campus at 2510 N. Dodge St. in Iowa City. The 300,000 square foot office and industrial space is currently undergoing renovations with major tenants including Iowa United Volleyball, according to Greater Iowa City, Inc.

Geifman said the success at that building is what drew them into the vacant space in downtown Davenport.

"It's an iconic building. It's the Quad-City Times," he said. "We want something good to happen in that building. That's our goal."

A major part of summer in the Quad-Cities is the Quad-City Times Bix 7 road race, which has traditionally ended in the Times' parking lot. Geifman said his company has no reason not to continue it and does not expect any changes to the race this year, other than the Geifman Group purchasing the building.

"We have no reason to not continue it," he said. "We are here to make it work for the community. We want it to be successful, and the Bix is another staple in the Quad-Cities."

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This story was originally published April 17, 2026 at 1:46 PM.