The historic house in Delaware, Ohio, that was being auctioned off for as low as $1 went for much more. But its new owners hope to breathe life into the old mansion.
The house was on the auction block last week after being vacant since 2008 with more than $150,000 in unpaid property taxes, the county said.
The former fraternity house and nursing home was part of Delaware County’s foreclosed land sale that originally had an opening bid to cover outstanding property charges. If no one could pay the tax bill, the home was to be offered with bids starting at $1.
“This is a rare opportunity for someone to acquire a unique property in a historic part of the city of Delaware,” County Auditor George Kaitsa said in a news release. “And it will be sold to the highest bidder without regard to any of the back taxes or assessments that are owed on the property.”
Prospective owners were warned that the house would require work, whether it is remodeled or knocked down.
An asbestos survey contracted by the county noted that the home is in “disrepair due to roof leaks and vandals.” The survey did find asbestos in some of the flooring and glazings on older windows that would have to be removed by a state-certified asbestos abatement contractor before any renovations or demolition can proceed.
WCMH reported dozens of people showed up to bid at the auction last week.
But Jordan Lewis and Geoff Stafford walked away the winners, bidding $100,000.
They will become the official owners in about a month.
They plan to bring life back to the massive home and are prepared to spend on restoring it.
“We are predicting $600,000 to $700,000 total for the restoration,” Lewis told WCMH. “We’re going to live there, we’re going to retire there, live there forever, restore it to its former glory as best we can, yes.”
They will first get the asbestos out before knocking down the addition at the rear of the home. They hope to complete renovations in a year or two, WCMH reported.