The Walker Building- the former site of the Welborn Baptist hospital in downtown Evansville -- has a new owner. The building- which went up for auction on Sept. 1, sold for $10. Officials at St. Mary's said they are excited to finally have sold the building- because they've been trying to get the former hospital off its books since 2006. And while the price tag might seem like a really good deal- the new owners say it's not as good as it sounds.
"Ten dollars, a lot of people are interested in that," said Ben Kunkel of the Kunkel Group. "They think wow what a bargain..the reality is 6 or $700,000 a year in expenses that start day one. So we've got a lot we have to do to make it a viable profitable building."
Renovation plans for the new building will be coming in the next month or two. Developers say it will be mostly retail space. St. Mary's CEO Tim Flesch said Kunkel submitted the winning bid along with a promise to take the property as-is.
The 7 story building sits on nearly 8 acres of land. It includes more than 500 hundred parking spaces. Thousands viewed the property online and 8 potential buyers visited the site. The new owners say renovations will begin early next year. They will close on the property in the next two weeks.
Kunkel is renovating the former Knights Of Columbus Hall on 3rd St. That building will be the new home for the Riverwalk Communities, an assisted living complex which is being forced out of its current home in the old McCurdy building. No changes are being made to that original plan


News Release: From St. Mary's ST. MARY’S SELLS WALKER BUILDING TO KUNKEL GROUP St. Mary’s Health System has sold the Walker Building, site of the former Welborn Baptist Hospital, to the Kunkel Group, Inc. St. Mary’s offered the Walker Building for sale at a dual-bid auction on September 1st of this year. Kurtz Auction and Realty handled the auction. More than 1,000 interested parties viewed the Walker Building on-line and eight potential buyers visited and toured the facility. Bid packages were provided to seven companies. Sealed bids were received on Thursday, October 22nd. The Kunkel Group is one of two companies to present bids and the only conforming bid St. Mary’s received. “We are excited the Kunkel Group has purchased the property. They have a solid reputation and have done a lot for the revitalization of downtown Evansville. We trust they will return it to good use in the community,” said Tim Flesch, President and CEO of St. Mary’s Health System. “This has been a difficult property to sell due to the size of the project and the investment it will take to return it to productive service.” Flesch continued, “We have had other interest in the property over the past few years and received similar and lesser offers compared to the Kunkel Group’s winning bid of ten dollars. Of concern has been the $600,000 annual carrying costs and the investment needed to convert the property to alternative use. We feel the Kunkel Group made a fair offer – given our history in trying to sell the building and the surrounding lots.” "The Kunkel Group is thrilled and elated for the opportunity to create another Renaissance project in downtown Evansville,” said Ben Kunkel, President of the Kunkel Group. “St. Mary’s has a tremendous reputation as stewards of the community and this transaction furthers that commitment.” “We plan to convert the building into a multi-use facility,” Kunkel added. “It will be a combination of residential apartments and commercial office space, as well as small retail. The Walker Building is only two blocks from the new arena and has incredible potential for any professional company. We will issue a press release at a later date discussing the specifics of the project.” The Walker Building is located at 401 Southeast 6th Street. It is a 258,467 square foot health care facility with seven floors, including a lower level. Remodeled in 1971 with a three-story addition in 1987, the property encompasses nearly eight acres with more than 3,000 feet of frontage and 569 paved parking spaces. St. Mary’s is donating medical equipment from the property to the Rotary Club of Evansville, who will then donate the equipment to a hospital and a clinic located in the Yucatan to help treat the medically underserved.