Active

603 W Main St, 206

Knoxville TN, 37902

$415,000


$570.84 per sqft

Active

1 Bed

1 Bath

727 sqft

Condos

Built in 1930

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

1279781

MLS ID

October 17, 2024

Listed

October 30, 2024

Updated

Map

603 W Main St, 206
Knoxville TN, 37902

Interior Features

Bedrooms

1


Total Bathrooms

1


Full Bathrooms

1


Interior Features

Eat-in Kitchen


Appliances

Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer, Other


Floor Description

Tile


Fireplace

No


Fireplace Description

None, Other


Cooling

Yes


Cooling Description

Central Cooling, Ceiling Fan(s)


Heating

Yes


Heating Description

Central, Electric

Exterior/Building Features

Lot Size

0.35 Acres


Exterior Features

Windows - Insulated


Lot Features

Corner Lot


Architectual Style

Other, Historic


Sewer

Public Sewer

Other Property Details

Area Name

Knox County - 1


Association Fee

Not Listed


Association Fee Frequency

Monthly


Association Amenities

Elevator(s), Storage


Garage

Yes


Parking

Attached, Other


View

Yes


View Description

Mountain View, City, Lake


County

Knox County - 1


Water Source

Public


Pool

No

 

Courtesy of Alliance Sotheby's Internation, Melinda Grimac

Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Liza Bryan Acheson shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2024 Knoxville Area Association of REALTORS. All rights reserved.

Data last updated 8:21 PM UTC, 10/30/2024

 

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