Auction fails to produce new Keystone Towers owner

The future of the Keystone Towers remains cloudy. An online auction to sell off the eyesore on the near northeast side ended Wednesday afternoon without anyone meeting the minimum bid for the property.

The organization handling the online auction said a number of groups expressed interest but none were willing to take on the delinquent taxes owed on the property. The organization said the owner of the loan on the Keystone Towers is "currently exploring his options."

The online bidding process for the Keystone Towers lasted about a week.

A group out of New York, ACAP Ventures, holds a two million dollar loan on the building. They agreed to sell the loan in the bidding process.

In a special report , 24-Hour News 8 revealed the towers have been damaged by leaking water, mold and asbestos over the years.

The towers were built in the 1970s. The complex was once the home to professional athletes and other well-to-do residents. However, it's now filled with rats and human feces. Police also must regularly clear the buildings of homeless people.

The starting bid for the Keystone Towers was $600,000.

This is a developing story. 24-Hour News 8 will update the story as more information becomes available.