The State Real Estate Company of Latvia, VAS "Valsts nekustamie īpašumi" (VNĪ), has announced an upcoming auction for a historic building located on Teātra Street in Riga, which features an iconic tower topped with a sculpture depicting three Atlanteans supporting a globe. The auction will commence on March 18 and conclude on April 17, with a starting price set at 2.71 million euros. This property includes a 435 square meter plot of land and a five-story administrative building with an attic measuring 1,891.4 square meters.

The building, identified as Teātra iela 9, is an eclectic art nouveau construction that was once owned by the book and antiques dealer Kārlis Jēkabs Zihmanis. Its façade is characterized by decorative elements typical of eclecticism, including shell and plant vine motifs, several Atlantean sculptures that support the protruding balcony, and intricate mosaics. A particularly striking feature is the corner tower topped by a sculpture created by artist Augusts Folcs, which prominently displays a globe illuminated at night.

VNĪ has reported that the building underwent restoration in 1989 and is currently in good to satisfactory technical condition. The property has housed an Italian restaurant since 1992, showcasing its ongoing relevance within the local community. This auction presents a unique opportunity for buyers interested in acquiring a piece of Riga’s architectural heritage, reflecting both historical significance and potential for future development.