More than a year after the last tenants moved out, the Professional Arts Building at 121 W. Locust St., Davenport, is coming down, likely to be replaced by a bank and a restaurant.

Although tenants had to be out of the building by Nov. 1, 2011, asbestos removal and utility issues slowed down the demolition, developer Ted Rebitzer said.

City officials have said there have been discussions for a McDonald’s restaurant at the location, but Rebitzer wouldn’t identify potential tenants of the 1.5-acre site, bordered on three sides by Brady, Main and Locust streets.

“We’ll wrap up demolition in the next couple of weeks and hopefully have an announcement shortly,” the developer said.

Rebitzer and business partner Andy Doyle plan to divide the parcel for the tenants. Building design will have to go to the city’s Design Review Board for approval.

Main at Locust Pharmacy, 129 W. Locust St., is attached to the three-story Professional Arts Building, which will remain at the intersection of its namesake streets. Although the two buildings are attached, the real estate parcels are separate.

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During asbestos removal, an unmarked underground electrical line was discovered that needed to be relocated, causing a significant part of the delay.

“We didn’t find out about the electricity running through the property until then,” Rebitzer said. “We did our due diligence, but it was an unfiled easement.”

Construction workers also found telephone lines to the building cross-wired that required relocating.

Rebitzer and Doyle want to get demolition completed by January so the building can be removed from the tax rolls.