Eric Schertzing, Ingham County treasurer and chairman of the Ingham County Land Bank, said the property’s location offers potential for the space, which was appraised at about $600,000. The land is zoned for mixed use, which includes residential and commercial possibilities.

“Certainly, given the proximity to MSU and Lansing, there will be some possibilities,” Schertzing said. “All the players have been coming together for the stretch between MSU and downtown.”

Schertzing said the Land Bank is unlikely to build on the land and hopes to sell the property to a developer at some point this year, but he did not mention specific prospects.

Mechanical engineering sophomore Brian Pew said he would like to see an apartment complex take over the property.

“Apartments might make sense there,” he said. “More places to live, basically right on campus.”

Schertzing said the building was torn down because it added no value to the land. It cost the county $200,000 to demolish the building, including an unexpected $130,000 to contain an asbestos problem.

“The city was also concerned with the structure,” he said. “There were still charred pieces from a fire in 1982. Despite all the historic value of the building, it was an impediment to the rebuilding of the land.”

The nightclub, once known as The Silver Dollar, was housed in a building constructed in the 1940s. Along with once being a huge attraction for large musical acts, it served as a bowling alley and one of the nation’s first computerized golf driving ranges.

Rick Becker, who owned the bar for more than 20 years when it was called The Silver Dollar, said he purchased the building at ?the right time for it to be an MSU hotspot in 1972 and sold it in 1995.

“We bought in a time that ran through the 18-year-old drinking age, all of a sudden 40,000 students could drink and there were only three bars in town,” he said. “There were 7,000 Brody kids right across the street that we taught to drink tequila for 25 cents a shot.”

The bar also served as a social networking site, Becker said.

“It was a mixing pot of sorts,” he said. “Students, factory workers, all sorts. The hippie period even lingered longer at our bar for some reason.”

After he sold the building, Becker said it began to “degenerate, fall apart and become real dirty.”

“As I watched it deteriorate, I thought to myself, ‘This ?place needs to be torn down,’” he said.