Home in Cincinnati for Restoration
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jonathan1030
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PostPosted: Sun Jan 15, 2006 9:49 pm    Post subject: Home in Cincinnati for Restoration Reply with quote

First, I'm not sure if this is the right place to post properties that are available for restoration, so sorry if its no the right place.

I have found a great property that could possibly be registered as historic that is in need of restoration. I do not own this property or have any connections to the owner - it is lender owned. Therefore, I don't consider this a commercial post since I have no opportunity for monetary gain. I am looking for an investor to fix up the building because I think itís too magnificent of a building to be destroyed. I haven't seen anything against posts like this so hopefully I'm not breaking the rules.

The house is a 21 room mansion in Cincinnati that was built by the founder of a large steel company that is now a part of a multi-million dollar steel industry (AK Steel). In addition, a local artist lived in the property that sketched a popular weekly article in the local newspaper of a historic landmark in the city.

Is this enough to register the property as historical? Also, is it common for companies to donate money to restoration provided that they have ties to the builder of the house?

The house has been abandoned for three years and needs lot of repairs. I expect the most of the inside will need to be gutted. The foundation seems to be in great shape considering since the lines on the house are still crisp and there isn't sagging.

Here is a link to a web site I made that has pictures and much more information.

http://enginecontrol.dyn.ee/house/house.asp

Once again, I don't own this property, I am just looking for someone or a way to save this property from being destroyed. Itís currently lender owned and the bank that owns it has neglected it. I would be willing to help anyone interested in restoring the property in any way possible.
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jade



Joined: 11 Feb 2005
Posts: 785
Location: Hawley MA

PostPosted: Sun Jan 15, 2006 10:03 pm    Post subject: Reply with quote

If you haven't already done so, I suggest contacting Cincinnati and Ohio historic societies. Also the National Trust for Historic Preservation is a good resource.
I commend you for your efforts and wish you the best of luck!!
...Jade
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jonathan1030
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PostPosted: Mon Jan 16, 2006 4:59 pm    Post subject: Reply with quote

Thanks I will try contacting some historical orginizations.

How strict are historical societies on recognizing a property as historical? Talking with the local community (as in suburb), they consider the property unique. However, the suburb is only a few square miles. Therefore, they may not have the needed money to restore the property. Do federal historical groups help with these types of properties? Also, does the property have to be in good condition to be registered as historical? As is, this property needs lots of work.

One other question I have is what is the best way to find "historical minded" investors. Several people said that they would be willing to buy the property but then buldoze the existing structure and build a replica or similar type building. This isn't what I quite had in mind. The problem is that the property restoration will likely result in a loss. Many real estate professionals are only concerned with making a profit and not preserving the hosue. Just wondering if you have any tips.

The best solution that I came up with is for the building to be used as apartments temporarily to help pay back the investors. The original intent of the building was not for this, however the building has been dividied into apartments for most of its life - its 100+ years old and it was zoned as an apartment since the 1930's. Its already divided up as an apartment building. This isn't the first choice, but at least it would save the building.

I'm really just looking for anyone who would be willing to buy the property and save it. The restoration will take much more than I have and am able to get. Mainly because I am young without any credit yet.
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milledj



Joined: 15 Nov 2006
Posts: 29
Location: Athens, AL

PostPosted: Wed Nov 15, 2006 10:47 am    Post subject: Reply with quote

jonathan1030 wrote:
Thanks I will try contacting some historical orginizations.

How strict are historical societies on recognizing a property as historical? Talking with the local community (as in suburb), they consider the property unique. However, the suburb is only a few square miles. Therefore, they may not have the needed money to restore the property. Do federal historical groups help with these types of properties? Also, does the property have to be in good condition to be registered as historical? As is, this property needs lots of work.

One other question I have is what is the best way to find "historical minded" investors. Several people said that they would be willing to buy the property but then buldoze the existing structure and build a replica or similar type building. This isn't what I quite had in mind. The problem is that the property restoration will likely result in a loss. Many real estate professionals are only concerned with making a profit and not preserving the hosue. Just wondering if you have any tips.

The best solution that I came up with is for the building to be used as apartments temporarily to help pay back the investors. The original intent of the building was not for this, however the building has been dividied into apartments for most of its life - its 100+ years old and it was zoned as an apartment since the 1930's. Its already divided up as an apartment building. This isn't the first choice, but at least it would save the building.

I'm really just looking for anyone who would be willing to buy the property and save it. The restoration will take much more than I have and am able to get. Mainly because I am young without any credit yet.


Hi, I would suggest that you contact the State Historic Preservation Office. They would be the best source of information and know your area the best. They are in charge of nominating properties for listing on the National Register of Historic Places, as well as maintaining a State list of Historic Properties. Here is Alabama, they also maintain a list of properties that need saving and a realestate section on their web site. They would also know what other resources are available, and perhaps even have some contacts with local investors.

Good luck!!

DJM - MA in Historic Preservation
BS in Architecture

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MA in Historic Preservation
BS in Architecture
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