Underhill Associates is a local real estate development company devoted to the sustainability and adaptive reuse of historic structures.
We were approached to purchase the beautiful Highlands Methodist Church property which was vacant and in jeopardy.
Through extensive due diligence with a team of development professionals, we have made numerous improvements to the property (see the attached list). This design process has led us to conclude that the highest and best use for the property will be a mixed-use redevelopment utilizing both Federal and State Historic Tax Credits. We believe the highly decorative Sanctuary space provides a signature creative open space for a professional firm. (Law, accounting, tech, advertising, marketing, architectural, engineering, brokerage, investment, consulting, etc.)
The rear educational building lays out well for efficient, residential units with an attractive courtyard. The parking layout provides for maximum utilization when balanced between split-demand commercial and residential.
Underhill Associates is offering this property with all improvements and design at an attractive purchase price of $995,000.00.
(Potential to negotiate involvement as consultant or partner.)
ABOUT THE PROPERTY
- Located at 1140 Cherokee Rd. Louisville, KY 40204
- The structure has been secured.
- Asbestos has been abated in accordance with AHJ.
- Trash, debris, and minimal interior items have been removed.
- Slate roofing has been inspected by a qualified roofing contractor and has been determined to be in good condition requiring minimal repairs.
- Exterior façade of both structures shows very few signs, if any, of decay, cracking, settlement, etc.
- Utility infrastructure services have been located
- SQFT: 20,000
- Lot Size: 0.349 Acres
- Zoning: R8-A
- Eligible for Historic Tax Credits
- Includes parking lot at 2013 Patterson Ave. capable of holding (20) vehicles.
- The architect, structural, and civil engineering firms have completed the Design Development documents.