Fortune Companies purchases former Kokomo Tribune building
Nov. 17—The old Kokomo Tribune building has a new owner.
Scott Pitcher, owner and founder of Fortune Companies Inc., in October purchased the property, located at 300 N. Union St., from CNHI LLC, according to county property records.
The newspaper operated out of 300 N. Union for more than 100 years before a fire in early 2021 damaged the building. Later that year, the building was listed for sale for $199,900. The Tribune moved to 123 N. Buckeye St. and began operations at the new location starting in March.
What are Pitcher's plans for the building? He told the Tribune that's still to be decided.
"I have no plans just yet," he said. "We're hoping early next year to develop a master plan for that site."
Pitcher added that he will work with the city of Kokomo to come up with the "best use" for the property.
Pitcher and Fortune Companies are no strangers to purchasing prominent downtown buildings, having heavily invested in the downtown area since the 1980s. Most recently, Pitcher purchased the old city building at the corner of Washington and Walnut.
Fortune has been an active market rate apartment complex developer in the downtown area.
"We have complete confidence in the uptown, downtown market," Pitcher said.
Tyler Juranovich can be reached at 765-454-8577, by email at tyler.juranovich@kokomotribune.com or on Twitter at @tylerjuranovich.
