Downtown News
You could own this darling historic building in downtown Dallas
This Purse Building could be yours.
A unique and historic building in downtown Dallas is up for grabs: The Purse Building, ideally situated across the street from Dallas' No. 1 tourist destination Dealey Plaza, is now for sale.
The building is located at 601 Elm St., and has been restored to its former glory by owner Tanya Ragan of Wildcat Management, who has owned it for nearly a decade.
Built in 1905, it has six stories and a total of 65,000 square feet of office or multi-family space. It was built in a "Chicago Italianate" style and features:
- original century-old pine wood floors
- brick walls
- floor-to-ceiling windows
- modern fixtures and aesthetics
Beyond its own stunning features, it has an optimal location across the street from Dealey Plaza and the Book Depository, a tourist destination that sees nearly 7 million visitors annually.
According to the listing, the building has been completely stripped to reveal the original flooring and walls. "A new owner can finish out an amenity roof deck of up to 3,300 square feet. The site is zoned CA-1, central area district 1, within a Historic Landmark Overlay District and falls within the City Center TIF District allowing for tax incentives & abatements. It's located in a prime Dallas CBD location, with heavy traffic counts, convenient public transportation and nearby retail and attractions," the listing says.
The release notes that the building was commandeered by the FBI and served as headquarters while they were investigating the assassination of John F. Kennedy. It had been vacant for 30 years before its renovation and is listed on the National Register of Historic Places.
Wildcat Management has championed urban pioneering, and its renovation of the Purse Building helped spur a reactivation of the West End, with new apartments, restaurants, business and government offices creating a renaissance in the neighborhood. It's also this-close to the DART rail.
In a statement, Ragan, who is currently working on a new project in Mansfield called Castle Ranch, calls the Purse Building her "pride project."
"What a phenomenal feeling that the legacy of Wildcat’s role in this extraordinary landmark will continue on as a vibrant part of the city I love," she says.
Marcus & Millichap’s Joe Santelli and Matthew Sheard are the brokers representing the Purse Building at 601 Elm Street in downtown Dallas. They don't list the price but in this realm, this is one of those things where if you have to ask, you probably can't afford it. For information, call 972-755-5282.
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