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Blog :: 07-2020

The Renovation of the North Lovell General Store

 

 

 

 

 

 

I have been doing real estate transactions in Lovell, Maine since 2004 and each one is very special to me. Luckily, I would say that all of the deals resulted in a satisfied buyer and seller. Sometimes, changing life circumstances dictate that a property is marketed or a family is looking for a larger home. Each 'deal' is unique and no two are alike. Inspection issues, appraisal value not sufficient, sellers want more $$ while buyers want less $$! But by the time we reach the settlement table, everyone is happy!

Some listings are harder than others to find a buyer. It might be that the seller wants a little more money than it is worth or maybe the condition is very rough and never had any regular maintenance. Showing these homes to potential buyers is like watching them using a revolving door. As quickly as they go in, they come right out. But a buyer always comes along. Maybe the price is lowered, but eventually a 'SOLD' sign goes up!

One of the most interesting listings that I have had is 2036 Main Street. Nothing about this listing was normal. This was a historic building that was owned by the sellers for at least ten years but built in +/-1865 and a very important cornerstone of North Lovell life for generations. Its use was limited to a storage center for a local carpenter, the North Lovell Library and the UCC Church. No plumbing and no electricity. But lots of history and a ton of potential.

How do you market a property like that? Well, here is the next unusual component. The abutting lot to the north once had a farmhouse on it but that burned to the ground some years ago. After the fire, the lot was cleared and all that remained was a working septic system and a drilled well! The owners of each lot were unrelated but trying to sell one lot without the other would not work. As they say, timing is everything. Both owners were ready to sell. My approach was simple -- a historic building that's essentially a 'blank canvas' with a drilled well and septic a short distance away.

My vision reached back to my urban planning days and my belief in the adaptive reuse of older buildings. Throughout Maine there are many examples of buildings being renovated for new uses. I pointed prospective buyers to a similar building in the Waterford Flats that now houses a yoga studio on the first floor and a residence on the second.

The property was Listed on August 24, 2018, went Pending on September 4, 2019, and went to Settlement on October 11, 2019.

Over the next couple of North Lovell General Store updates, we will follow the progress of the building as it comes back to life. Trust me, it will be fun to watch!

Comments

  1. Brian Fox on

    My dad used this building for a short period in the late 70's and possibly early 80's as his office before moving his base of operations back to a home office. He then used it for storage until his passing in 1990, after which my brother and I continued to use it for that purpose until we cleaned it out sometime in the late 90's as I recall. Great to see it coming back to life again - great old building.