Transportation Cabinet almost ready to sell historic properties purchased for Bridges Project
The Drumanard Estate, Rosewell Mansion, and Grocers Ice property will soon be on the market.
Thursday, April 2nd 2015, 4:17 pm EDT by
Thursday, April 2nd 2015, 4:46 pm EDT
LOUISVILLE, Ky. (WDRB) -- It's a chance to buy history. The Kentucky Transportation Cabinet is about to sell three historic properties. They are all part of the Ohio River Bridges Project.
The Kentucky Transportation Cabinet purchased the Drumanard Estate in 2012 as part of the Bridges Project. Now the historic mansion is almost ready for sale.
The state bought the property for just over $8 million, and it's the reason the East End Bridge is tunneling under the Prospect area.
Drumanard, which was built in 1929, is on the National Register of Historic Places, and cannot be destroyed.
WDRB got a rare look inside the 10,000 sq. ft. mansion as workers prepare it for sale.
And there's a lot of work to do.
“We've repaired wood that was falling apart outside. We are painting and cleaning. There were leaks in the upstairs. We have repaired those leaks,” said John Sacksteder, project manager for the Ohio River Bridges Project.
And that's just a partial list.
Drumanard is not the only historic property the Cabinet is putting on the market.
It is also selling the old Grocers Ice property on East Main Street, built in the early 1900's; and the Rosewell Estate in Prospect, which dates back to 1820s.
The sales come with restrictions as to how the properties can be used.
“Basically they have to maintain the properties in the condition that they are,” said Sacksteder.
There will be open houses for interested buyers. They will be sold through a closed bid process, meaning potential buyers will not see the appraised value before bidding.
“Bidders will put in their bids, and if there are bids that are at the appraised value or better, hopefully, then they can move forward,” said Sacksteder.
Grocers Ice will be up for sale later this month, Rosewell in May, and Drumanard later this summer.
“We've fixed things to where we believe it's at a very presentable value to whomever might want to buy the property,” said Sacksteder.
You can find more information about the property sales here.
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