From the Tuesday November 27, 2007, Des Moines Register, staff writer Melissa Walker reports on the Kingsway Cathedral:

Owners of the century-old church at 901 19th St. will again ask for permission to demolish the building, which the city ordered closed in early 2003 because of structural problems.

Congregation members said then that the problems were caused by vibrations from the Interstate Highway 235 reconstruction work.
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Des Moines' historic preservation committee, however, said the building should stand, after a demolition request was made late last year. Commissioners asked the owners to look for a buyer, but none came forward.

There is a good quote from City Planner Jasson Van Essen about halfway through the article where he says "anything can be fixed, and anything can be done if there's enough subsidy."

It is important to note that commitment and creativity on the part of the developer can decrease the need for subsidy, particularly in a neighborhood like Sherman Hill . Perhaps this building would be a good candidate for adaptive reuse as apartments or condos.