News Summary
The Rockefeller Building, a national historic landmark in Cleveland, is now for sale after a failed redevelopment attempt. It’s been vacant for years and faces significant deterioration, with concerns over safety and structural integrity. The property has been heavily impacted by vandalism and neglect, leading to police citations for intruders. Previous plans to convert it into residential units fell through due to financial issues. Despite these challenges, the site offers potential tax advantages that may attract future developers.
Cleveland, OH – The historic Rockefeller Building, located at 614 W. Superior Ave., is back on the market after a failed redevelopment attempt left the property in a state of decline. The building, recognized as a national historic landmark, is being marketed for sale by Rico Pietro, a principal at Cushman & Wakefield-CRESCO Real Estate, on behalf of BridgeInvest, the building’s lender.
Constructed between 1903 and 1905, the Rockefeller Building has been vacant for several years. Its condition has deteriorated significantly due to factors such as vandalism and neglect. Recently, a break-in led to police citations for several individuals found inside, raising further concerns about security and safety.
Previously owned by developers Kenny Wolfe and Agostino Pintus, the property was acquired for $13.35 million in 2020 with plans to convert it into 436 apartment units along with retail space. However, these plans never materialized due to financial constraints and rising construction costs. The property includes not just the building itself but also a parking garage and adjacent lots.
BridgeInvest is expected to take possession of the Rockefeller Building soon, a move aimed at mitigating further damage to the structure. While the sale price has not been publicly disclosed, it is anticipated that the building will be sold at a significantly discounted rate due to its many issues.
The Rockefeller Building faces numerous structural problems, including broken windows and damage caused by previous storms. Additionally, it has been flagged by the fire department as a hazard, with documented concerns regarding safety and structural integrity in city records. The total value of the tax advantages associated with the property exceeds $24 million, including historic tax credits and Opportunity Zone credits, making it an attractive proposition for potential developers.
Despite its current state, there is a surrounding potential for development in the area, especially with the nearby new Sherwin-Williams headquarters and other significant urban projects. Local preservationists advocate for the conservation of the building, emphasizing its historical and cultural importance to the Cleveland community.
The Rockefeller Building last received funding from the Ohio Brownfield Program for site cleanup and remediation in December 2022. However, the site is now considered a “parking crater,” with no active development plans in place for the surrounding properties, which only adds to the uncertainty surrounding the future of this historic landmark.
Deeper Dive: News & Info About This Topic
HERE Resources
Warren, Ohio Celebrates John D. Rockefeller’s Legacy with New Exhibit
Historic Rockefeller Building in Cleveland Up for Sale
Additional Resources
- Cleveland Magazine: Rockefeller Building Back on the Market
- Crain’s Cleveland Business: Rockefeller Building Sold to Lender
- News 5 Cleveland: Break-In at Rockefeller Building
- Cleveland.com: Rockefeller Artifacts in Ohio Museum
- Axios: Historic Black Tennis Courts
- Wikipedia: Rockefeller Building (Cleveland)
- Google Search: Rockefeller Building Cleveland
- Encyclopedia Britannica: Rockefeller Building – Cleveland
- Google News: Rockefeller Building Cleveland
Author: STAFF HERE CLEVELAND WRITER
CLEVELAND STAFF WRITER The CLEVELAND STAFF WRITER represents the seasoned team at HERECleveland.com, your premier source for actionable local news and information in Cleveland, Cuyahoga County, and beyond, delivering "news you can use" with in-depth coverage of product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news impacting the region—backed by years of expert reporting and robust community input, including local press releases and business updates, while providing top reporting on high-profile events like the Rock and Roll Hall of Fame inductions, Cleveland International Film Festival, and holiday parades, alongside key organizations such as the Cleveland Clinic, Cleveland Orchestra, and Great Lakes Science Center, plus leading businesses in manufacturing and healthcare like Sherwin-Williams and University Hospitals, and as part of the broader HERE network including HEREDayton.com, offering comprehensive, credible insights into Ohio's vibrant landscape. HERE Cleveland HERE Dayton
