ST. LOUIS — A group of court-appointed commissioners have released their estimated value of the Railway Exchange Building, parking garage and lot for $7.3 million.

"The city’s goal is to stabilize the Railway Exchange Building, remove blight  from the property, and seek developers to remodel the building and likely demolish the adjacent parking garage," according to a press release.

The Railway Exchange Building, owned by Hudson Holdings, has been vacant since 2014. It was condemned in 2023.

The Land Clearance for Redevelopment Authority (LCRA) declared the property as blighted in late June and notified ownership that it planned to take the next step with eminent domain.

There are more than $30 million in liens on the property, which will be cleared during the eminent domain process.

However, the price can be appealed, which involves a jury trial. The LCRA board would be able to purchase the property and hold the title during an appeal process.