603 W Main St, 206, Knoxville, TN 37902
$415,000
Property Type:
Single Family
Bedrooms:
1
Square Footage:
727
Lot Size (sq. ft.):
15,374
Status:
Active
Current Price:
$415,000
List Date:
10/17/2024
Last Modified:
11/05/2024
Description
The 50 apartments in the Medical Arts Building (MAB) are being converted into condominiums and are now offered for the first time as a purchase option! New owners will enjoy the fantastic location between the downtown core and The University of Tennessee. All units are conveyed with a washer/dryer set and all major kitchen appliances. Tile flooring, remodeled bathrooms, granite countertops, stainless steel appliances in the open kitchens, and plenty of natural light create a comfortable living area. Unit sizes vary from 515 square feet to 2,101 square feet. No short-term rentals are permitted. The minimum lease term will be 180 days.
The MAB, an ornate Gothic Revival style building built in 1932 by Lexington, Kentucky architecture firm Manley and Young, was placed on the National Register of Historic Places on May 24, 1984. Originally planned as a 13-story building, the plans were scaled back due to the Great Depression to what we see today as a 10-story high rise, including the attached 4-story parking garage. Owners will have the opportunity to purchase parking in the private, interior garage.
The decorative terra cotta and dark green spandrel panels on the exterior of the East and South facing facades show the attention to detail, which was rarely seen in the southeast at that time. The MAB was once home to a pharmacy, a bank, a beauty shop, a florist, and several restaurants. A bowling alley and a putt-putt golf course also entertained tenants and visitors!
The building experienced its share of hardships. In 1985, it was completely renovated and once again became a favorite location for many well-known doctors, dentists, attorneys, accountants, and other professionals.
Thomas B. Grace, a real estate investor from Chicago, purchased the building in 2006. The plan was to leave it as a multi-tenant office building for many years, but the recession changed everything. It was agreed that the highest and best use for the building was a conversion to residential. The building conversion was completed in April 2014. Now, a new generation of people call the Medical Arts Building home!
Building history: The Medical Arts Building, an ornate Gothic Revival style building built in 1932 by Lexington, Kentucky architecture firm Manley and Young, was placed on the National Register of Historic Places May 24, 1984. Originally planned as a 13-story building, the plans were scaled back due to the Great Depression to what we see today as a 10-story high rise, including the attached 4-story parking garage.
The decorative terra cotta and dark green spandrel panels on the exterior of the East and South facing facades clearly shows the attention to detail, which was rarely seen anywhere else in southeast at that time. The Medical Arts Building was once home to a pharmacy, a bank, a beauty shop, a florist, and several restaurants. A bowling alley and a putt-putt golf course also entertained tenants and visitors!
The building went through its share of hard time and in 1985 a complete renovation of the building was done and once again became a favorite location for many well-known doctors, dentists, attorneys, accountants and other professionals.
Thomas B. Grace, a real estate investor from Chicago, purchased the building in 2006. The plan was to leave the building as a multi-tenant office building for many years but the recession changed everything. It was agreed that the highest and best use for the building was a conversion to residential. The building conversion was completed in April 2014. Now, a new generation of people call the Medical Arts Building home!
Fast forward to October 2024. The apartments are being converted into condominiums and will be sold individually. New owners will continue to enjoy the fantastic location in between the downtown core and The University of Tennessee. All units convey with a washer/dryer set and all major kitchen appliances. Parking spaces in the interior private garage
More Information MLS# 1279781
Location Tax Legal Info
House #: 603
St Dir: W
Street Name: Main
St Suffix: St
State/Province: TN
Zip Code: 37902
Property Sub-Type: Condominium
PIN #: 094MD004
Subdivision: The Medical Arts Building
Geo Lat: 35.960584
Geo Lon: -83.91966
Contract Info
Auction Y/N: No
Listing Price: 415000
Current Price: $415,000
Status: Active
Listing Date: 2024-10-17
Occupancy: Permanent Residence
General Property Description
Type: High Rise
Lot Dimensions: 74.33 x 206.83 x IRR
Lot Size SqFt: 15373.67
Acres: 0.35
Acre Source: Other
Site Built: Yes
Restrictions: Yes
SqFt - Total (Aprox): 727
SqFt - Main Lvl: 727
# Bedrooms: 1
Baths - Full: 1
# of Rooms: 2
Fireplace: No
Property Status: N/A
HOA: Mandatory
HOA Freq: Monthly
HOA Contact: tbd
Position of Unit: 2nd fl East facing
Year Built: 1930
Bonus Room: No
Extra Storage: Yes
Status Change Info
Status Change Date: 2024-10-17
Property Features
Style: Historic; Other
Construction: Block; Brick; Masonry; Other
Siding: Brick; Cement; Stone
Basement: Other
Lot Description: Corner Lot
View: Lake View; Mountain View; Other
Fireplace: None
Floors: Tile
Fuel: Electric
Heat: Central
Cooling: Ceiling Fan(s); Central Cooling
Appliances: Dishwasher; Disposal; Dryer; Microwave; Range; Refrigerator; Washer; Other
Sewer: Public Sewer
Water: Public
Other Rooms: Laundry/Utility; Mstr Bdrm Main Level
Misc Features: Internet Available; Washer/Dryer Connect
Exterior Features: Windows - Insulated
Dining Area: Kitchen/Dining Rm Co; Living Rm/Dining Rm
Community Amenities: Elevator; Extra Storage
Association Fee Incl: Association Ins; Building Exterior; Fire Protection; Grounds Maintenance; Pest Contract; Security
Showing: See Agent Instructns
New Financing: Cash; Conventional
Listing Office: Alliance Sotheby's Internation
Office Phone: 865-357-3232
Last Updated: November - 05 - 2024
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