The Iconic New Kimbell Building At 85 Main St. In North Adams Has Been Sold To MountainOne Bank

This historic building in downtown North Adams will always hold a special place in my heart. At 16, I helped my Uncle with demolition projects to earn extra money when I wasn't in school. Moving materials from the building to a rack truck was quite a workout.

The property known as 'The Iconic New Kimbell Building' on Main Street was sold at a foreclosure auction on Tuesday, February 17, 2026, following the owner's default on mortgage payments and property taxes.

MountainOne Bank Purchases Historic Building

Iberkshires states that MountainOne Bank, the mortgage holder, was the sole participant in the auction and acquired the historic building for $1,248,000. The bidding occurred in the entrance lobby at 85 Main, conducted by Daniel P. McLaughlin & Co. Auctioneers LLC.

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The previous owner owed back taxes on 85 Main and other properties

The city lists Charalabos Bakalis of Florida as the principal. Under the name KCS MATERIALS LLC, Bakalis also owns 306 Union St., which faced foreclosure last year. Several years ago, work was done on the exterior of the apartment building, but was then stopped, leading the city to initiate a tax taking in 2024. Recently, a for-sale sign appeared on the property.

Read More: Truckers Are Asked To Detour When Driving Through Adams, MA

Kimmel Building History

Built in 1908 by Jenks Kimbell's two daughters, the block from 81 to 91 Main Street is the site of the city's first commercial livery. Over the decades, it has housed prominent businesses such as Apothecary Hall and McClelland's. Currently, it functions as office space for various accounting, investment, and insurance firms across two floors. MountainOne Insurance and Investments occupies much of the first floor, while the bank uses the adjacent building.

The top four levels have been unoccupied and inaccessible to visitors for many years. The property's estimated value is $1.12 million, and it is thought to contain about 55 units.