A Canadian-based auction house for industrial equipment has bought a 65-acre tract on the southwestern corner of Interstate 64 and Illinois 157 in Caseyville.
Vancouver-based Ritchie Bros. Auctioneers is the world's largest industrial auctioneer with more than 110 locations around the world. Corporate communications director Kim Schulz said construction on the new building, which will include an auction theater with seating for at least 500, will get under way by next month.
She would not reveal the cost of the project but said the new building will take the place of the company's existing auction house in Festus, Mo.
"It's quite a large acreage," Schulz said. "It's right on the highway, which is close to downtown St. Louis, close to the airport, right off of (Interstates) 255 and 64. It's a great location with plenty of hotels and restaurants with close proximity."
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Schulz also said the new auction house would take as long as a year to build and employ six to seven full-time employees, but as many as 40 part-time employees when auctions are held. Auctions will take place about three to four times a year.