The historic Federal Reserve Bank of Kansas City building was bought for $12.8 million by the lender holding its promissory note at an auction on the front steps of the Jackson County Courthouse.

The lender, Great Western Bank of Sioux Falls, S.D., had been owed $14.3 million on the property and was the sole bidder at the auction, which lasted only a few minutes. The 21-story vacant building, which opened in 1921, had been owned by an entity established by developer Jason Townsend.