The former home to Bucky’s Drive In now has a new owner.

A partnership led by Douglas Compton, president of Lawrence-based First Management Inc., bought the property this week at 2120 W. Ninth St., which had been home to the Bucky’s restaurant and its precursor, Sandy’s, for more than four decades before closing in December.

Financial terms were not disclosed.

Compton said he had no immediate plans for the property. The tract is adjacent to a former Sinclair service station at the northwest corner of Ninth and Iowa streets, which his partnership already owns.

“They’re probably prime for redevelopment – someday,” Compton said. “I can’t tell you it will be tomorrow, but someday that corner will need new life.”

He said he’d already heard from several potential occupants for the former Bucky’s site, which he describes as rare among available commercial buildings in town, given its drive-through lane and window. He said a couple national chains, including a fried chicken operation, had inquired.

Compton’s partnership, Sadies Commercial LC, includes Mike Treanor, principal for Treanor Architects; and David Duncan, formerly of Classic Eagle Distributing. Sadies Commercial bought the former Bucky’s site from Fayman Investment Co. Inc.

Long-term plans for the two sites at the corner could feature a project that includes commercial at street level, with residential dwellings upstairs, Compton said.

“But we don’t have any immediate plans like that,” Compton said. “You’ve got to be patient. Redevelopments (for buildings) that have been there for 30 or 40 years, they don’t happen overnight.”