Rochester, MN (KROC AM News) -  A noon news conference has been scheduled in front of the Chateau Theater building in downtown Rochester during which details of its proposed purchase are expected to be revealed.

The building was most recently a Barnes and Noble book store but the owner of the property has been trying to sell the site. The asking price was around $6 million and city officials have been involved in talks with the owner for the last several weeks.

The site has been identified as a key part of the DMC initiative. At its most recent meeting,  the DMC’s Corporation Board expressed support for the building.

Board chair and Lt. Governor Tina Smith is expected to be at today’s news conference.