The Des Moines Building has been listed for sale at $1.6 million. Iowa Realty Commercial listed the property at 405 Sixth Ave. for sale after a judge set the sale price during foreclosure proceedings. Des Moines Tria Tower LLC, based in Glenview, Ill., purchased the building for $3.5 million in December 2007 and took out a $5.8 million line of credit to cover acquisition and construction costs. National City Bank filed a petition to foreclose on the property Jan. 30 of this year and Iowa Realty Commercial was appointed a receiver for the building in February. Des Moines Tria Tower owed more than $2.6 million in principal and interest when the lawsuit was filed. According to the Polk County assessor’s Web site, the building is valued at $1.11 million. Des Moines Tria Tower also has five liens against it for $62,535. The 14-story building is 21.8 percent occupied right now.

The Labor Department announced that unemployment insurance claims fell 148,000 to 6.69 million in the week ended June 6, the Associated Press reported. It is the largest drop in seven years and the first decrease in 21 straight weeks, a sign that the job market is starting to turn around. However last week, initial claims rose 3,000 to a seasonally adjusted 608,000.

Eddie Bauer Holdings Inc. has filed for Chapter 11 bankruptcy protection, the Associated Press reported. According to the company’s Web site, it has stores in Valley West Mall and North Grand Mall in Ames. The retailer said yesterday that a bidder has agreed to keep the majority of its 371 stores open, honor its gift cards and retain most of its employees. CCMP Capital Advisors LLC has bid $202 million in cash for the company’s assets but other buyers could make bids while the company is under court protection. Eddie Bauer reported a $44.5 million loss for the first quarter as sales dropped 16 percent. It’s filing showed $476.1 million in assets and $426.7 million in debts.

The Conference Board’s index of leading economic indicators rose 1.2 percent in May, a sign that business activity could improve over the next three to six months, the Associated Press reported. It was the second straight gain after seven months of declines. Economists surveyed by Thomson Reuters predicted the index would rise by 0.9 percent.

General Growth Properties Inc., owner of Jordan Creek Town Center, lost $7.5 million in April, Bloomberg reported. It had revenues of $101.3 million. Operating income was $41.7 million, while interest expense was $44.6 million and reorganization items totaled $4 million. General Growth currently is in bankruptcy.