This building changed hands (and names) several times over the years and was most recently known as the Palace Arms Hotel. Much of the facility was not even in use at that time. The bar hosted a pretty good comedy club at one point but shut down as the Millenium club under some licensing circumstances (if memory serves me correctly). It has sat empty for quite some time.
This will now be the site of the Bank of North Dakota once the demolition is completed and construction can begin. That, combined with the upcoming replacement of the Veterans Memorial Bridge with a shiny new one, could revitalize this area somewhat. Since I love our fair city I hope this eventually comes to fruition.