Sterling business owner buys Coloma Township’s former US Bank building in Rock Falls

A Sterling developer and business owner has purchased Coloma Township’s former US Bank building in Rock Falls, Whiteside County property transfers show.

Pete Harkness of Harkness Enterprises Inc. purchased the building at at 300-302 First Ave. in Rock Falls for $528,000. Harkness told Shaw Local he was the site developer of OnCall Imaging in Rock Falls, is an investor of Imaging Centers of Illinois LLC, and owns multiple businesses and properties in Sterling.

Those include Harkness Properties, a real estate company; the former Applebee’s at 3920 E. Lincolnway, which has been leased to a restaurant group based in Charleston, South Carolina, called Azul Cantina Inc.; Pizza Ranch at 3900 E. Lincolnway, and White Rabbit Broadcasting.

As for the latest addition to his portfolio, Harkness said he was not yet ready to discuss his development plans for the former bank in Rock Falls.

The two-story building is 15,616 square feet and includes a lobby area, general office area, private offices, teller windows, public restrooms, a bank vault and a break room with a large on-site parking lot, according to Whiteside County documents.

The former US Bank building at 300-302 First Ave. in Rock Falls includes a lobby area, general office area, private offices, teller windows, public restrooms, a bank vault and a break room with a large on-site parking lot. It's pictured April 1, 2024. (Payton Felix)

Coloma Townships newly appointed board is looking into the possibility of selling the 52,616 square foot property which includes a lobby area, multiple offices, teller windows, bank vault and a large on-site parking lot. The former US Bank's drive through area at 300-302 First Ave. in Rock Falls is pictured April 1, 2025. — The former US Bank building at 300-302 First Ave. in Rock Falls includes a lobby area, general office area, private offices, teller windows, public restrooms, a bank vault and a break room with a large on-site parking lot. It's pictured April 1, 2024. (Payton Felix)

The Coloma Township Board, under former Supervisor Sindy Sotelo, approved the $250,000 purchase of the building in February 2023. Due to the extensive renovations needed for it to pass a city inspection, the building never legally opened for township use.

The new board voted at their April 8 annual town meeting to sell the building, blaming high costs of ownership and the needed renovation along with its size.