WATERLOO -- The city held a firehouse sale Monday.

City Council members voted 4-2 Monday to sell Waterloo Fire Rescue Station No. 8 for $2.1 million to a private developer which plans to put a pharmacy in its place.

The contract with First Equity Group, of Rolling Meadows, Ill., allows the city to back out of the deal if it isn't able to construct a suitable replacement station nearby with the money from the sale. But councilmen Harold Getty and Quentin Hart voted against the measure, citing concerns about where the new station would be located.

"I have a problem OK'ing anything until I have an idea where it's going to go," said Getty.

Councilwoman Carolyn Cole voted to sell the station in the Crossroads Center area, but also expressed reservations. She wanted to make sure "we're not sacrificing time for taxes."

The city took bids on the fire station at La Porte Road and San Marnan Drive in May 2007 after several developers expressed interest in what was perceived as a prime retail site. Only two proposals were received, including First Equity's.

First Equity's Tom Moffitt said the site will be used for a "free-standing pharmacy with a drive through," but the store name was not identified.

Community Planning and Development Director Noel Anderson said the city is evaluating two sites for a new station within a block or two of the current Station No. 8.

Mayor Tim Hurley said at least one of the sites under consideration would have better access to La Porte Road and East Ridgeway Avenue.

Selling the current station will "turn a valuable piece of property into a tax-producing property and put some dollars into our general fund," Hurley said. The sale revenue must be enough to buy another site and build the new station, or the contract is void.

Fire Chief Doug Carter said his office has been involved in the process.

"I will ensure that a station is built that meets the high quality, or exceeds it, of the existing station," he said. "If we get a better station out of the deal in a location that meets the needs of the citizens, I'm all on board."

Councilman Bob Greenwood was absent and did not vote on the station sale.

Contact Tim Jamison at (319) 291-1577 or tim.jamison@wcfcourier.com.