Staff reports

The 15-story property sits in the middle of several redevelopment projects.

The building is roughly 167%2C000 square feet and is 87 years old.

Downtown Rochester's Alliance Building is up for sale again.

Located on East Main Street west of Clinton Avenue, the 87-year-old building is owned and managed by Rochester's Conifer Realty LLC. The 15-story building is roughly 167,000 square feet and has an asking price of $1.3 million.

Conifer did not return a message seeking comment. Commercial real estate firm CB Richard Ellis is marketing the property.

The for-sale sign comes as the building sits near the hub of a variety of major development projects in the downtown area, including a new transit center, the Midtown redevelopment site and a Hilton Garden Inn expected to open in spring 2015.

About two years ago, it was thought that the building at 181-187 E. Main St. would be undergo a $22 million renovation, but issues over asbestos prevented work that would have transformed the space into lofts, retail and office spaces from proceeding.

The building opened in 1926 as the Lincoln Alliance Bank and was designed by a New York City architectural firm that worked with Rochester architect Foster Warner.

The renovation would have been the largest certified historic rehabilitation of a National Register landmark in the city at the time, and one of the largest in upstate New York.

Conifer Alliance has owned the building since 1984, and at one time was asking for $2.5 million for the property. The property is currently assessed at $775,000.