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petegossett
petegossett GRM+ Memberand Dork
9/4/09 1:43 p.m.

So, since everyone has been asking, here's some pictures of the building I'm buying for $2500.

A few details:

The buildings were built in the late 1890's, and at one point the east-side was a shoe factory, then later on they were both combined & operated as a hardware store through 1970. They were purchased several years later by a couple guys who opened an antique store, and operated it until around 2002/3 when it closed.

Eventually, these buildings, as well as several others they owned, were abandoned & eventually became the property of our village. The village spent quite a bit of money fixing the roof & tuck-pointing the exterior, and have been trying to sell the properties for some time.

Honestly though, the main intent of the village was not to profit - or even recoup their costs - but to save the buildings & what's left of our downtown(we lost 1/2 our small downtown to a fire in 2004, and many other stores closed soon after. What they want are people who are going to open businesses, repair & maintain the buildings, and hopefully bring a few jobs & some sales tax into town.

Knowing that, I presented my offer of $2500 with my plans for the property, to the village at their board meeting last month. It was initially a split vote, and required a 2nd meeting to re-vote, but it passed unanimously the second time.

Front, looking south

This is looking south at the front of the buildings. My plan is to get setup on the east-side by Halloween so I can get opened, then work on renovating the rest.

Alley(east) side. The brickwork has been tuck-pointed, but the windows on the 1st fl need attention

This is the alley-side on the west. These windows aren't in great shape, but I think they might be salvageable. There are a couple broken panes to deal with asap though.

Back side with new gutters & 2nd/3rd fl doors.

And here's the back. On the right, you can see the archway of bricks over the window & a/c. That's where eventually I'll re-install a doorway & setup the garage area.

Store area 2

This is the front area where I'll setup shop first. It's hard to tell, but it still has the original tin ceiling in great shape!

Store area 1

And the other part of the front east side.

Back room, east side

This I where I'll build the garage. The wall on the right is a facade & will be removed. I think I'll keep the chandelier! It will be about 24' x 35' when opened up.

West side of building

Here's the west-side. I love the glass cabinets, once I get the studio built I plan on filling it with guitars! You can see some ceiling damage in the far back that I need to address, and the enclaves on the right will be where the sound-rooms are built.

Another problem. This is the floor of the 1st fl bathroom.

This is one of the immediate concerns - the only bathroom(presently) has a couple holes in the floor!

One problem. Hole through the rear 2nd floor looking down into the 1st fl. The joists are good, so I'll double them & sheet over those.

And here's the other serious issue, this is the 2nd floor, looking down toward the back of the building. Fortunately all the joists are good, so I'll just reinforce them & re-sheet everything.

These next few are some shots of the 2nd floor apartment area, and finally the 3rd floor.

Front 2 bedrooms on the west side

Hallway looking south on the east side. Dining room, then kitchen on left. Master-suite down the hall

Kitchen

Photobucket

slantvaliant
slantvaliant HalfDork
9/4/09 1:48 p.m.

Lots of work there, but loads and loads of potential. Are you planning to live there, as well?

Grtechguy
Grtechguy SuperDork
9/4/09 1:53 p.m.

$2500.00?

wow....great deal if you're allowed to make it a residence as well.

16vCorey
16vCorey SuperDork
9/4/09 1:55 p.m.

What kind of business are you starting?

Rusty_Rabbit84
Rusty_Rabbit84 Dork
9/4/09 1:58 p.m.

i see a race shop in the making...

dyintorace
dyintorace GRM+ Memberand Dork
9/4/09 2:12 p.m.

Wow, wow and wow. So very cool.

NYG95GA
NYG95GA SuperDork
9/4/09 2:23 p.m.

Looks like you're doing some great work there. Keep it up and good luck.

EastCoastMojo
EastCoastMojo GRM+ Memberand Dork
9/4/09 2:27 p.m.

HO-LY E36 M3 dude. That is just too freakin' cool. And what an awesome price! I can't wait to see what you do with it!

DILYSI Dave
DILYSI Dave SuperDork
9/4/09 2:33 p.m.

You win.

petegossett
petegossett GRM+ Memberand Dork
9/4/09 2:37 p.m.

Thanks everyone!

Here's the thread from a couple days ago asking for input on business names that kind of explains my ideas.

I don't know if there's much of a market for a race shop, but then again, I don't know anyone offering corner-weighting...

MiatarPowar
MiatarPowar HalfDork
9/4/09 3:08 p.m.
EastCoastMojo wrote: HO-LY E36 M3 dude. That is just too freakin' cool. And what an awesome price! I can't wait to see what you do with it!

Agreed completely! Keep us updated with the progress.

ignorant
ignorant SuperDork
9/4/09 3:09 p.m.

Even my scared of just about everything wife says thats a good deal and great idea...

Lesley
Lesley SuperDork
9/4/09 3:10 p.m.

Congrats!! I love hearing about old buildings being rescued, no way can anything new compete in terms of character and detail. What a great price, good luck to you!

petegossett
petegossett GRM+ Memberand Dork
9/4/09 3:29 p.m.

BTW - there's more buildings for-sale. The one next door to mine & the 3 across the street can be had even cheaper. They've had new roofs & brickwork, but are basically bare shells....but I've been told $500 would buy any of them if you can show proof that you'll put in a business.

There's a couple other more expensive buildings for-sale too, that are already open & in good condition. There's a 2-story that's presently a teen-club for ~$70k, and a fully operational bar for $125k.

Anyone else want to come join the party???

cwh
cwh Dork
9/4/09 3:35 p.m.

So a recession and real estate crash can be a good thing for smart people. Good luck, and I assume you have pretty good construction skills. Also, I will wager a bunch that that building is far better built than any modern one, even with the problem areas you have to deal with. Wonder what your heating bills will be like in January.

pete240z
pete240z Dork
9/4/09 3:36 p.m.

what a deal. all those hardwood floors, wood work, and those cabinets just reek of character.

what a great project. you my friend will have a paintbrush in your hand year round......LOL

poopshovel
poopshovel SuperDork
9/4/09 3:42 p.m.
those cabinets just reek of character.

^this.

Holyfrigginsuite, dude. Great deal. I shudder to think at what number would come out of my landlord's mouth if we asked him "How much for the building?"

oldtin
oldtin New Reader
9/4/09 4:06 p.m.

That's very cool. What town??? The town I work in gave a group of us an old bowling alley to start a non-profit in. That deal went stupid when when the mayor wanted friends involved, but the deals are out there.

Karl La Follette
Karl La Follette Reader
9/4/09 4:19 p.m.

I love those doors to no where sorta creepy , you might not want to have a party to quick and somebody does a Three stooges header off the second or third floor . So super cool congradulations . Watch for air borne contaminents during demo and wear a dust mask on the first clean out .

mad_machine
mad_machine GRM+ Memberand SuperDork
9/4/09 5:02 p.m.

not quite challenged price... but still quite a deal

spitfirebill
spitfirebill Dork
9/4/09 7:50 p.m.

One thing I do not see in the pics is a fire escape. Is the town going to require one? Those doors on the back of the three story building are just screaming for one.

Those buildings is my town would be $200-300k.

Jake
Jake HalfDork
9/4/09 8:44 p.m.

Holy cow- can you live in the apartment? Never pay rent again- even if your businesses produce no more than a pittance, if your living expenses are nil, well, you can do whatever you feel like.

Cool.

petegossett
petegossett GRM+ Memberand Dork
9/4/09 8:47 p.m.
oldtin wrote: That's very cool. What town???

Rossville, IL Here. BTW, there's also home lots for sale for $1 each in 2-different subdivisions.

Yeah, I'll put stairs up to the 2nd floor on the alley side for a fire escape - there's already hardware from where the old stairs were. There never were stairs to the back, as those were warehouse-type doors until the village rehabbed the building, though I want to put a deck back there eventually.

Dr. Hess
Dr. Hess SuperDork
9/4/09 9:10 p.m.

Five bills fer the neighbor building. How's about a general practice doc and a chiropractor, cash only? Would they go for that business plan? If only you were southwest of there.

petegossett
petegossett GRM+ Memberand Dork
9/4/09 9:17 p.m.

We've got a town doc...well, he's not a doc actually, he's a P/A(I think). Been here for years though, really nice guy.

Chiropractor, yeah probably so!

Oh, and the original Ford garage building from the early 1900's just came up for-sale too. I haven't seen the price, but it's about 50' x 100' or so, single story, new metal arched roof, warehouse-type building. It's a nice building, the old man who'd owned it for years passed away this summer & I saw the signs on it a couple weekends ago, but I haven't(dared to) ask the price.

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