The state hopes to close the deal to buy the old office building owned by Employers' Insurance Co. of Nevada next month.
The building on Musser Street is two blocks east of the Capitol. It has three stories, 31,915 square feet of office space and a 50-slot parking lot. Across the street is a smaller building also owned by the insurance company, but state officials say they aren't interested in it.
The structure was built 44 years ago by the insurance company's predecessor, the Nevada Industrial Commission, which provided workman's compensation insurance to businesses in the state. It later became the State Industrial Insurance Commission before it was renamed EICON and converted from a quasi-state agency into a private mutual fund more than three years ago.
It has been mostly vacant since EICON moved operations to Reno more than two years ago with only a few staff members continuing to work there.
The 2001 Legislature appropriated $5 million toward the purchase and rehabilitation of the building.
State Lands Director Pam Wilcox said she hopes to close escrow by Oct. 15. State Public Works Board Manager Dan O'Brien said refurbishing and electrical work must be done before state agencies can move in.