Yeah, it took me a while to find it, and even today, I still forget where it is at. What a clusterfuck of a situation for the tenants.

It's not that hard to find if you are walking along 4th Street.

http://cincinnati.bizjournals.com/cincinnati/stories/2009/08/31/story5.html?b=1251691200^2003751

 

Friday, August 28, 2009  |  Modified: Monday, August 31, 2009, 8:46am EDT

 

Bartlett buyer wants plenty of Cincinnati concessions

Business Courier of Cincinnati - by Dan Monk Senior Staff Reporter

Kevin Cox | Courier

 

The 19-story Bartlett Building was built in 1901.

A Chicago investor has agreed to pay $7.5 million to buy the Bartlett Building out of bankruptcy, but the deal is subject to the city providing at least $15 million in “government assistance” to renovate the historic structure.

 

Bartlett Building sale off again

Business Courier of Cincinnati - by Dan Monk Senior Staff Reporter

 

 

For the second time since last summer, the sale of downtown’s Bartlett building has fallen through. That left the building’s few remaining tenants scrambling to stay in business.

 

http://cincinnati.bizjournals.com/cincinnati/stories/2010/05/31/daily32.html

 

Buyer emerges for Bartlett Building

 

By David Holthaus • [email protected] • November 19, 2010

 

A buyer has emerged for the vacant Bartlett Building on Fourth Street downtown.

 

Perth Associates II Inc., a real estate firm incorporated in Delaware, has agreed to pay $1.59 million for the 14-story building.

 

http://news.cincinnati.com/article/20101119/BIZ01/311190082/1055/news/Buyer-emerges-for-Bartlett-Building

I know the building needs a ton of work, but seriously what a steal. I think there are houses in my parents neighborhood in suburban Cleveland that have gone for more than that. Unbelievable.

Um, did I read that correctly? Does it actually say $1.59 million? wow that's beyond a steal. 

Um, did I read that correctly? Does it actually say $1.59 million? wow that's beyond a steal.

 

Yeah there are mansions in Hyde Park that probably sell for more than that.

$1.59M???

 

There's got to be something to this price?

well the last buyer wanted to pay 7M with 15M in federal/local "help" so hopefully its just 1.6M no incentives or breaks... at that price they should have plenty of money free to turn this building around in a BIG way.

Does anyone know who owns this building now?

^Not sure, but you just reminded me that I saw a simple little ad in last week's Business Courier.  No price was listed.  Text below:

 

FOR SALE

DOWNTOWN CINCINNATI HIGH RISE

 

Bartlett Building - 18 Story historic building @ corner of 4th & Walnut

350,000sf, floor size 15,000sf, 9 elevators, sprinkler

 

For info, contact:  James Collier, Reciever  513-xxx-xxxx

 

jamie [at] 4thstreetmgmt [dot] com

^Muchos Gracias!

That building is too amazing to sit vacant like it is. And its street-level presence is sorely missed. It completely sucks the life out of that portion of Fourth Street.

I talked to the Bartlett CEO (they are no longer in the building, and haven't been for some time).

 

She said the big problems with the building is the strange basement, holding a massive old Vault, and of course, no parking.

 

Personally, I think the old Enquirer building on vine is more beautiful, but getting either project moving forward would be great.

I talked to the Bartlett CEO (they are no longer in the building, and haven't been for some time).

 

She said the big problems with the building is the strange basement, holding a massive old Vault, and of course, no parking.

 

Personally, I think the old Enquirer building on vine is more beautiful, but getting either project moving forward would be great.

 

I've seen the basement.  It is amazing.  The fault is huge, and while you really couldn't ever do much with it - I don't see why it's a problem, nobody really uses basements anyway.  The building actually has a few sub basements too, it's pretty impressive.  The strange thing about that basement though, was a basement mezzanine level that had some white tilework with the street names tiled in like someone had planned to tie in to the subway station at Fountain Square.  It was built in 1901, but renovated in the 1920's so they could have gone out on a limb.

Pack as many residential units as possible into this gem and be done with it already.

Pack as many residential units as possible into this gem and be done with it already.

 

With no parking?  I'm not sure if Cincinnati's downtown is ready for a large no-parking residential product yet.  Downtown needs to continue to add more businesses (retail, food, etc...) that would serve all an individual's needs without the need for a car.  Car programs like Zipcar and car sharing could serve the occasional car needs, but those services are far from being entrenched here.  As time goes on and services/businesses increase, I do believe the local culture will become more comfortable with the idea of having a no car residential product.

"Retail follows rooftops."

 

That's typically what the industry says about retail services and when they open up in a given area. Downtown needs a lot more people living there before all services can be provided within a short walk.

 

It's easier to do this is a suburban area where the catch basin for a grocery store is enormous since everyone is driving there. So the same amount of people that live within 25 miles of a Kroger in Green Township need to live within the central business district before we can reasonably expect a major chain to set up shop, for example.

"Retail follows rooftops."

 

I agree, but it seems to me that there needs to be more residential with parking first, then more retail services, then some no-parking residential.  Also, for what it's worth, I think there are quite a bit grocery options downtown and OTR that will be well connected once we can get the streetcar project started.

^I love Cincinnati's street car project and wish it the best of luck (and wish we had some similar projects going forward in Cleveland).  I really think it will be a boon for city.

 

That said...do you really think that the type of demographic that can afford downtown living rents is going to stand and wait in the bitter cold in January for a street car to do grocery shopping (both ways) and then lug multiple bags on the street car and then carry them from the stop to their apartment?  I see this demographic hoping in their heated car and driving to the store in half the time and pulling in to their garage closer to the apartment.  Many people have to out of necessity, but I don't see this as a choice from this demographic.

 

I can actually speak from personal experience in this regard.  I am a big advocate of public transportation and when I lived in the Height for years I would take the rapid downtown almost every day I did not need my car for a business meeting out of downtown.  I did this even though it usually meant walking more than several blocks to my office.

 

I then moved downtown to a building in the warehouse district with a heated garage 15 feet from the front door of my apartment.  I worked on Playhouse Square, about a 10 minute bus ride (with traffic, red lights and stops for passengers) from the warehouse district.  My firm offered free parking  in a garage attached to the building.  When I moved in I had every intention of walking to work in the summer (maybe a 15 minute walk) and take the bus in the winter.  Well...I ended up driving (about 5 minutes) every day.  Waiting 10 minutes or so for the bus in the cold (with another 10 minutes for the ride) got old when I could get to the office in 5 minutes by car.  In the summer, even on a nice 70 degree day with a breeze, by the time I walked to the office in a suit carry a briefcase (and I was in very good shape), I was sweating like a...well you know what.  Again, this is the experience of a embarrassed transit rider.

 

Anyway, just saying..

The Bartlett Bldg is RIGHT on the Streetcar line on Walnut & 4th. It has the potential to be the first no-parking apartment/condo bldg downtown once the streetcar is completed. Findlay market is also right on the streetcar line.

We will be living on the streetcar line when/if it is ever built.  As it is, we currently drive to Findlay market even though it is only nine blocks away.  I would never drive through traffic and park in that mess unless it were absolutely necessary (can't walk that far carrying groceries).  We will certainly take the streetcar to get groceries at Findlay Market and for that matter down to the Riverfront with our children as taking transit would be much more convenient.

 

I am hopful that the streetcar coupled with some car sharing/renting programs will make rehabbing the Bartlett Building as rentals much more feasible.

And it's not like there aren't about 5+ parking garages/lots within a 2 block radius of the building. If your complaint is for cheap parking, it ain't ever gonna happen downtown.

And it's not like there aren't about 5+ parking garages/lots within a 2 block radius of the building. If your complaint is for cheap parking, it ain't ever gonna happen downtown.

This.

 

There is parking. Plenty of it!!!!

$100 for monthly parking permits at the Riverfront Garage. 

 

All residents in Mercer Commons or Gateway V will need to pay $75 to park in either the Mercer Garage or the Washington Park Garage.

 

 

"Retail follows rooftops."

 

I agree, but it seems to me that there needs to be more residential with parking first, then more retail services, then some no-parking residential.  Also, for what it's worth, I think there are quite a bit grocery options downtown and OTR that will be well connected once we can get the streetcar project started.

 

We're going to have to agree to disagree then, because the bottom line is THERE IS NO SUPERMARKET downtown. Several small grocery outlets scattered is not the same as a supermarket. Findlay Market serves a purpose but sometimes you just need a Kroger or Whole Foods. I also think that shopping at FM takes longer than just popping into Kroger for what you need. There's just no replacing a traditional supermarket.

 

\That said...do you really think that the type of demographic that can afford downtown living rents is going to stand and wait in the bitter cold in January for a street car to do grocery shopping (both ways) and then lug multiple bags on the street car and then carry them from the stop to their apartment?  I see this demographic hoping in their heated car and driving to the store in half the time and pulling in to their garage closer to the apartment.  Many people have to out of necessity, but I don't see this as a choice from this demographic.

 

Bingo! I am as excited for the streetcar as the next person, but I think that some people need to be more realistic about it can and cannot accomplish. I think that people with busy schedules, like myself, will probably not think twice before using their car for errands like this. I also think that cold weather will force other people to use their cars just out of convenience.

The fact that there still is no supermarket downtown (OTR Krogers aside) still has not deterred people from moving in downtown. Eventually when retailers see a population base in an urban core they move in. Retail goes to where the people are.

 

Second, since when did buses and streetcars not have heat!? I ride the bus extensively in the winter and have never had a problem and the bus has always been heated. Sometimes I can walk to the bus stop and catch a bus faster than it takes for me to walk to where I parked and warm my car up. I even walk from my house to Findlay Market in the cold with grocery bags...both ways! As for the streetcar, it will run about every 15 minutes so riders won't have a long wait. Plus if you live at a place like the Bartlett building you could probably hang out in a doorway while waiting for the streetcar.

 

If you want to argue speed and convenience, sure a car will get you there faster and take you anywhere you want to. Transit challenges this perception because it forces you to plan your travel around a entirely different schedule and routing. I've found it gives me time to get work done while in transit. I meet new people and I get to see the city instead of staring straight ahead at the road all the time. Maybe that's something "this demographic" may want to enjoy?

I think the point is if the Bartlett is done as "Luxury" apartments or condos- Say, in the vein of Park Place, the type of resident they will be attracting is likely 50-60 year old empty nesters moving back into the city after living primarily in the suburbs. 

 

They are the type who would want cars. 

 

If they do a mid-price range units-  nice, nothing too fancy- but similar to the banks quality, targeting mainly YP's, then you could get away with requiring people to pay for parking at a nearby lot.

There are plenty of apartments scattered around downtown and OTR that do not have on site parking, and those living there do not expect it.  Condo's probably come with the expectation of an on site garage, and rightfully so, but rentable apartments don't need to have that expectation.  A building this size packed with 1 bedroom apartments for $800 or so would do fine.  The highest expectation I'd have at that price is, perhaps, a negotatied monthly discount at a garage within a few blocks.

The tower was purchased last week by a firm out of Columbus:

 

Will the lights go back on in iconic downtown tower?

Jon Newberry

Staff Reporter-

Business Courier

 

The just-completed sale of the historic Bartlett Building could finally set the stage for its return to some useful purpose, removing a dark blot on a once-bustling corner of downtown Cincinnati.

Still, no one seems to be talking publicly about what that useful purpose might be. And any renovation would almost certainly require government incentives.

An affiliate of Columbus real estate firm E.V. Bishoff Co. acquired the 17-story building on Feb. 8 for $535,000, ending more than five years of legal limbo for the vacant tower. It last sold for $8 million nearly seven years ago.

Wow, sold for $8M 7 years ago and bought for $535,000.00. Someone took a hurtin and someone got a great deal.

Not knowing anything about this building, what are the possibilities for residential conversion? Is it a prime candidate for said conversion? Or is it more valuable as office space?

 

Obviously quite a bit of the previous talk in this thread was about that, but that talk always happens with every older office building. Is this a realistic use for this specific building. Because it's gorgeous and would make for some lovely condos/apartments if possible.

I have to think it would be a good residential conversion candidate.  It's not overly large, and it is really quite old, which (IMO) makes it that much more difficult to turn something into prime office space. 

The only thing that may hold it back from apartments is parking. Is there any close substantial parking?

$535k is unreal. Wow. Anybody know what the conditions of the building are like inside?

At this point, in Cincinnati, a big portion of the picture boils down to parking. if a developer can come up with a workable solution to parking, a large scale condo/apartment conversion becomes much more feasible in their minds. its one of the reasons the enquirer building conversion to residential floundered. right or wrong, in the current market, most people interested in living downtown/able to pay the prices are also going to be people who have a car and want a place to park it. that said, there are plenty of garages nearby which at least allows for the possibility  of a deal being struck. I also believe there are elevator issues in the Bartlett building, possibly relating to the number of existing cores or being brought up to code for residential.... i don't quite remember what they might be though. I do know several developers have explored the option of turning it to residential and the numbers haven't worked for them for whatever reason in the past. the residential market in downtown is experiencing something of a boom right now though, so i wouldn't be surprised to see someone take a chance.

This building seems like it's in the very heart of downtown's financial district, if you can call it that. Am I the only one who wants to see it stay as office space? I'd much rather see some new residential construction on some of our vacant lots - Seventh & Vine, Seventh & Sycamore and Eighth & Walnut in particular.

^ I like the thought of having a good mix of commercial and residential right next to each other.

More details revealed for Bartlett Building hotel conversion

Chris Wetterich - Cincinnati Business Courier

May 14, 2013, 4:38pm EDT

 

Columbia Sussex Corp. will convert the Bartlett Building, 36 E. Fourth St., into a $33 million hotel and get 12 years worth of green tax credits under an ordinance that could receive Cincinnati City Council approval on Wednesday.

 

Council’s Budget and Finance Committee approved the Leadership in Energy and Environmental Design agreement on Monday. City documents contained a few more details about the downtown project:

 

• The now-vacant office building will be converted into a Renaissance luxury hotel with 312 rooms.

 

• Construction is set to begin by July with the goal of opening by September 2014.

 

Cont

Construction has begun!

I'm thrilled at the redevelopment of this, but can the city actually fill all these new hotel rooms coming online? Thats not to mention that the casino gets to build one in a few years too.

^These hotels have really smart people working for them that say yes.

I'm thrilled at the redevelopment of this, but can the city actually fill all these new hotel rooms coming online? Thats not to mention that the casino gets to build one in a few years too.

 

Up to ownership to fill them, not the city. No idea what future vacancy rates might be. 312 rooms, and a luxury name looks like a good development.

The Residence Inn and 21 C are about 130-150 rooms. Competition means other operators have to make renovations from time to time.

What do we have here, 8 hotels in the CBD? (with 3 more coming). Indy probably has 15.

Yes, we have many fewer rooms that comparable sized metros.  (I ran the numbers somewhere but it was lost in the great UO crash.) 

Hopefully there will be some good pictures of the construction. I haven't seen any photos inside before...

Incidentally this building was financed by Jacob Schmidlapp.  Presumably some of the revenue from this building's first decades of existence went into the Schmidlapp Fund upon his death in 1919 which Fifth Third Bank still manages and recently funded the Schmidlapp Event Lawn.  His bank was merged into what became Fifth Third, and so it's a bit sad/amusing that Fifth Third recently came back into ownership of the building 100 years later through foreclosure. 

Incidentally this building was financed by Jacob Schmidlapp.  Presumably some of the revenue from this building's first decades of existence went into the Schmidlapp Fund upon his death in 1919 which Fifth Third Bank still manages and recently funded the Schmidlapp Event Lawn.  His bank was merged into what became Fifth Third, and so it's a bit sad/amusing that Fifth Third recently came back into ownership of the building 100 years later through foreclosure. 

 

Great tidbit!

9-15-13:

Hopefully there will be some good pictures of the construction. I haven't seen any photos inside before...

 

I found some photos here: