Description:

One of Baltimore's most iconic churches, Mt. Vernon Place United Methodist, is being offered for sale. Built in 1872, this beautiful Norman-Gothic house of worship is located in the heart of Historic Mt. Vernon -- adjacent to the Washington Monument and across the plaza from the Peabody Institute.

The church is approximately 24,000+ SF over three levels. The ±900-seat main sanctuary boasts a balcony, handcrafted pews, ornate stained-glass windows, and an elaborate ceiling and plasterwork. The organ is an MP Moller Opus R-524, with 2600 pipes, installed in 1956 (needs servicing). Behind the sanctuary is the ±40-seat chapel, a small kitchen, storage, a meeting room/classroom with room divider, and a large carpeted meeting space, which is currently used for worship by the Mt Vernon Place congregation. On the upper level is Davis Hall, a large multi-purpose room with balcony -- seating capacity of ±250. In the lower level is a full-size fellowship hall, currently built-out as a child care facility (which would require the installation of sprinklers should a daycare wish to operate there in future). There is also a large commercial kitchen, meeting space, and storage. Heat is provided by a boiler; cooling includes ceiling fans and window units (no central air).  Recent repairs include plumbing and slate roof; the property suffers from deferred maintenance. To request an offering memorandum, which includes due-diligence maintenance reports and records, please email barb@praisebuildings to register your client.

The offering price of the church has been significantly reduced -- from $1.35 million to $600,000 -- to incentivize the purchaser to accommodate a no-cost lease allowing sufficient area for the existing Mt. Vernon Place United Methodist congregation of ±25 to hold weekly worship, maintain a Pastor's office and counseling space. The lease term will be 7 years, with 7 renewal periods (each 7 years). (Details can be negotiated with the contract).

This is a sale only: there is no option to lease. The church is a nationally-registered historic site, part of the Mt Vernon Historic District; exterior alterations are not permitted and are goverened by CHAP (Commission for Historical and Architectural Preservation). The property is zoned OR-2. It would be highly unlikely that a developer would be permitted to repurpose the church for residential or most commercial uses. The seller makes no representation regarding condition, zoning, or use.  The grand piano does not convey with the sale.

The seller has limited knowledge about the property and welcomes buyers to undertake a full inspection.  The property will be sold as is. Owner financing may be available for a full-price offer from a buyer who intends to use the property as a house of worship. Terms: 30% down, 7.5% interest, amortized over 20 years, 5-year balloon.  The seller makes no representation regarding condition, zoning, or use.  Buyers should address any issues during the study period.  Due diligence materials are available upon request and registration. THIS SALE EXCLUDES ASBURY HOUSE, the mansion next to the church; it will be sold later in the year. 

To submit an LOI, please request a term sheet, which will include the following:  Buyer name/address, purchase price, EMD, study period, closing date, financing, any contingencies, intended use of the property, and proof of funds.  Please do not submit a contract.  The seller will review all term sheets on September 12th.  Submissions without POF will not be considered.  The seller has its own commercial purchase agreement and its own closing agent. Buyer to pay its own agent.

The daycare is no longer operating in the church, and much of the equipment conveys with the sale.  Private tour opportunities will be limited.  Please try to attend an open house.  To schedule a private tour, please contact the agent to register and qualify your buyer.  Proof of funds or pre-qualification letter will be required. 

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