The Fleetwood parking lot and building on Elmore Street will soon be filled.

Container Technologies, is buying the former trailer manufacturing plant for $418,000, according to a Sales Disclosure Form. Mayor Todd Barton said Wednesday the company has an office in Chicago.

Barton said the company specializes in trash containers and has indicated it plans to move facilities here from other states.

The company plans to hire people as well as transfer employees to its new plant on Elmore Street.

"This is a very positive development," Barton said. "The company has economic development needs and we have worked aggressively to meet those needs."

Barton said he looks forward to having the property on the tax rolls once again. He did not know how much revenue the facility will generate because the assessed valuation has probably dropped dramatically over the years.

The former Fleetwood building has been vacant since the company decided to close the plant in November of 2008.

The original asking price was $1.75 million.

More information is expected later this week.