After sitting empty for nearly 11 months, the Denver Diner building sold for nearly $5 million last week.

Brue Baukol Capital Partners sold the building at 740 W. Colfax Ave. to JPMorgan Chase for $4.875 million, according to the accessor’s office.

Chase plans to convert the 3,600-square-foot space into a bank branch. The branch is expected to open in late 2022, said Maura Cordova, a spokeswoman for Chase.

“It’s a fantastic corner at the entrance to downtown and the heart of the Civic Center Area,” Cordova said in an email to The Denver Gazette. “There is also a lot of residential redevelopment in the area and we want to serve our customers there.”

Brue Baukol purchased the property for $3.6 million in 2018, according to the assessor’s office. Attempts to reach the company were unsuccessful.

The historic Denver Diner closed its doors in January after struggling during the pandemic.