LANCASTER, Wis. — A Lancaster business owner has purchased the building formerly occupied by Shopko.

Robert Schmidt, owner of Gasser True Value Hardware and a member of the Lancaster Common Council, intends to maintain the structure, located at 1625 U.S. 61, until it can be leased or sold.

The real estate transfer occurred in April at a sale price of $525,000, which also is the property’s assessed valuation.

“The key is to maintain the property and keep it in good condition,” Schmidt said.

Shopko Stores announced in March 2019 that it would close all of its locations, including those in Lancaster and Dubuque and Dyersville, Iowa.

Schmidt said he considered the purchase for more than a year, adding that he originally sold the property to the developer that constructed the Shopko building.

He said he hopes to see another retailer occupy the space.