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603 W Main St , #604

Knoxville, TN 37902
  • $519,000
  • STATUS: Active Under Contract
  • ON SITE: 51 Days
  • ID#: 1279779
Under Contract
UPDATED: 71 min ago
$519,000
  • 2
    BEDS
  • 0.35
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 854
    SQFT
  • $608
    $/SQFT
Type:
Condo
Built:
1930
County:
Area:

School Ratings & Info

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!

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© 2024 East Tennessee REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Realty Executives Associates. Information is deemed reliable but is not guaranteed accurate by the MLS or Realty Executives Associates. Data last updated: 2024-12-08T08:48:07.717.
www.ashleyfinney.com/homes/156874303
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603 W Main St , #604 Knoxville, TN 37902

  • Price: $519,000
  • Status: Active Under Contract
  • On Site: 51 Days
  • Updated: 71 min ago
  • ID#: 1279779
2
Beds
2
Baths
0
½ Baths
0.35
Acres
854
SQFT
$608
$/SQFT
1930
Built
Neighborhood:
The Medical Arts Building
County:
Knox
Area:
Knoxville
Property 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!
Exterior Features

Architectural Style OtherHistoric Attached Garage YN Yes Exterior Features Windows - Insulated Garage Parking Attached Yes Parking Features AttachedOther

Interior Features

Appliances DishwasherDisposalDryerMicrowaveRangeRefrigeratorSmoke DetectorWasherOther Basement Other Bedroom Main Level Yes Bonus Room No Cooling Central CoolingCeiling Fan(s) Fireplace Features None Fireplaces Total 0 Flooring Tile Heating CentralElectric Interior Features Eat-in Kitchen Laundry Utility Yes Misc Features Internet Available Yes Misc Features Washer Dryer Connect Yes Mstr Bdrm Main Level Yes Rooms Total 4

Property Features

Association Amenities Elevator(s)StorageSecurity Association Fee Frequency Monthly Association Fee Includes Fire ProtectionBuilding ExteriorAssociation InsSecurityGrounds MaintenancePest Contract Association YN Yes Auction YN No Community Amenities Elevator Yes Community Amenities Extra Storage Yes Community Amenities Security Yes Community Features [] Construction Materials StoneOtherBlockBrick Corner Lot Yes Dining Area Kitchen Dining Rm Co Yes Dining Area Living Rm Dining Rm Yes Extra Storage Yes Frontage Type [] Fuel Electric Yes HOA Mandatory Listing Terms CashConventional Lot Features Corner Lot New Financing Cash Yes New Financing Conventional Yes Occupancy Permanent Residence Other Structures [] Property Attached YN Yes Property Status N/A Property Sub Type Condominium Restrictions Yes Security Features [] Sewer Public Sewer Site Built Yes Type High Rise View Mountain ViewCityLake Water Source Public

Listing information © 2024 East Tennessee REALTORS®.
Listing provided courtesy of Alliance Sotheby's Internation: 865-357-3232.


© 2024 East Tennessee REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Realty Executives Associates. Information is deemed reliable but is not guaranteed accurate by the MLS or Realty Executives Associates. Data last updated: 2024-12-08T08:48:07.717.
 
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