Mansion for sale at bargain price…so why is no one buying?

mansion on Youngstown’s Northside for sale for just under 77 -thousand dollars — down nearly 20-thousand from where it started — and still no one’s buying it. Which got us wondering — why not? And what’s the future for the rest of neighborhood — once the homes of the city’s most wealthy. Saving the house and the neighborhood is new at 11. [C3]20170217 WICK MANSION 27-SG [C4]20170217 WICK MANSION 27-PK The mansion at 260 Tod Lane faces Crandall Park — the peeling paint and weathered look of the front porch indicative of how much works needs to be done. “FORMAL DINING ROOM, FOYER, THEN YOU’D HAVE YOUR LIVING ROOM OVER THERE.” Harold Penwell of Western Reserve Realty Group is listing the house — built in 1918 by the Wicks — and later sold to the Hirshbergs and the Hartzells — all prominent Youngstown names. “OVER IN THE CORNER IS A SHOE RACK LOOK HOW HUGE IT IS.” Penwell showed me the women’s and men’s dressing areas — both big enough to be bedrooms themselves. That’s an old tie rack. He pointed out the marble and woodwork — all handcrafted and original. The downstairs bath has the original fixtures — the servant’s quarters the original appliances — and in the basement is the original boiler. Check out the size of that thing. “THE AMERICAN RADIATOR COMPANY OF CHICAGO.” Penwell has shown the house to 60 people — and even at 76-thousand-900 dollars no one wants it. It needs a lot work — which means a loan to both buy it — and fix it. “IF THE HOUSE IS GOING FOR 80 THOUSAND AND THE HOUSE NEEDS 60-THOUSAND DOLLAR IN REPAIRS YOU HAVE TO BE ABLE TO QUALIFY FOR A 140-THOUSAND DOLLAR LOAN INSTEAD OF AN 80 THOUSAN DOLLAR LOAN AND A LOT OF PEOPLE CAN’T DO THAT.” “IT’S JUST A VERY SMALL NICHE OF PEOPLE THAT CAN TAKE ON A PROJECT LIKE THAT.” Ian Beniston runs the Youngstown Neighborhood Development Corporation. He’s keenly aware of the importance of Youngstown’s Northside mansions. “THEY’RE HISTORICAL AND CULTURAL SIGNIFICANCE AND THEN THE FACT THEY’RE ON A MAJOR CORRIDOR AND EVEN THE ONES THAT LINE CRANDALL PARK OR WICK PARK, THEY’RE VERY PROMINENT IN THEIR LOCATION. THEY’RE HIGHLY VISIBLE. SO PRESERVING THEM IS IMPORTANT TO THE CITY.” All the houses on Fifth Avenue north of Crandall Park are in good shape. And then there’s the one on Tod Lane — so stately but so unwanted. 260 Tod Lane has been on the market for about a year. Harold Penwell told me anyone buying it would most likely have to put minimum 60-thousand dollars into it — just to make the house livable. LaBrae — number one in the

40 thoughts on “Mansion for sale at bargain price…so why is no one buying?

  1. Most of us wouldn't be able to afford the utilities in a home this size. It could be a very nice property, though.

  2. Lead, asbestos, ghosts, cobb webs, creaky floors, nails, rust, dust, ugly outdated decor. Need I go on?

  3. So essentially 140k just to move in and still needs more repairs after eh? Then there's the closing costs, property taxes etc so more like 250k just to move in in all honestly in most areas like this for a run down dated property, which is yet another reason why it will not sell.

  4. No one is buying because the median household income in Youngstown, OH is $24,500 and you can't afford a mansion on that.

  5. My next door neighbor bought his house two years ago. He then gutted it and completed rehabbed the house into what he thought it should be. (It was a 'builder's house' that is, it was the builder's home who constructed all the houses in our neighborhood, so it was in excellent shape with a lot of extras.) He told my husband and I that he put an additional $140K into the re-hab. Must be nice to have $$$$.

  6. My uncles and my dad spent alot of money fixing my house which is yeah smaller then that but it was horrible so if I ever get it i have people who can fix it

  7. What a shame! No one in the area can't afford a loan for $150,000.00 dollars in that area?. Gee if that mansion was in Omaha Ne you would pay have a price of over $150,000.00 and then you'd have to pay what it would cost on top of your purchase price for remodeling…God I live in the wrong state and city. That's a great deal for a historital home…Them people are spoil with there lower housing costs!

  8. im retired from general electric as well as the military with plenty of time and my soon to be wife is a surgeon were looking for a new place to start out fresh. perfect whats the weather like

  9. haunted or not. if i had the money id buy it n redo it. its beautiful heritage

  10. Nice home, fair price? maybe for the right buyer! but for the average person…..Nah, pass on this one

  11. Why don’t the workers buy them then? They care so much about them, so why don’t THEY buy it ?? ;-;

  12. That house is beautiful. If only someone was in a position to buy it & fix it up.

  13. Damn i was searching michigan for this type of property. I,d buy it. Anybody that believes in haunted houses is an ignorant child

  14. That house needs WAY more than $60k in repairs. It’s a dump. Should just be torn down and build a new house on the property

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