A wrecking ball won't finish off a historic Midtown building damaged in a recent accident.

Instead, the accident is helping to bring new life to the long-vacant, 80-year-old building at 16th and U streets.

The building's current owners, identified as Stratton Investments of Reno, want to rebuild the front section that caved in when a large Icee truck rammed into the unreinforced masonry structure last month. Then they'll proceed with stalled efforts to sell the building, said Dave Herrera, a commercial real estate broker with Colliers International - Sacramento.

"It's a beautiful brick building," he said. "They're going to try to bring it back."

The owners are working closely on the new design with one or two potential buyers who had been considering purchasing the building before the accident. The contractor is expected to be chosen Thursday. Next week, Herrera will lead negotiations between the seller and a buyer to see if they can determine what condition the building needs to be in and the new price.

The previous asking price was $610,000 for 2,889 square feet. The building, which has a skylight, was being marketed as retail or office space. Repairing the building could take at least 90 days from the date they get approval to move forward, he said.

The accident destroyed the brick building's front end, which had been hidden under a modern stucco facade. The accident also revealed the wood truss holding up the slightly pitched roof. The truss had been covered by sheet rock and a drop ceiling below.

"When they rebuild it, it'll allow them to bring the historical character back to the building," Herrera said. "I think it would add a tremendous amount of value to the building."

Ironically, one of the two most interested buyers toured the building with Herrera on the morning of May 19, shortly before the accident that afternoon.

More potential buyers came out of the woodwork after the accident. Contractors said they would like to buy the building at a distressed price, then repair and resell or lease it. Stratton Investments chose to make the repairs and sell at a higher price.

The building is located in a neighborhood that the city has marked as a preservation area, so the city will also have a say in what happens to the building.

The building has played a prominent role in the neighborhood for decades. Built in 1929 to house an early Safeway grocery store, the structure later housed a hardware store, cigar shop, Chinese grocery and massage parlor.

Before his election, Mayor Kevin Johnson chose the building for his campaign headquarters due to its location on busy 16th Street.

Potential buyers have not discussed their plans for the building, including whether they would lease the building or occupy it themselves.