Located in the heart of Wilmington, on a corner R2 lot....there are a few possibilities here for a potential developer/buyer. There are essentially 2 sections of the lot, one is contained by a chain link fence by the City to protect the historic monument, one is a large grassy and flat lot which appears to be about 4,000 sq ft (buyer to verify) of area to develop. The structure itself is a Civil War-era Powder Magazine, built in 1862, used to store gunpowder for the nearby Camp Drum. See link here: https://en.m.wikipedia.org/wiki/Powder_Magazine_(Camp_Drum). Current Sellers inherited the property that was purchased in the 1970's as a Duplex. When the Seller went to tear the duplex down to rebuild in the 80's I believe, the powder magazine was discovered and revealed. The City claimed it as a historic monument and the owner decided not to build. According to my title rep, It was declared a Historical Monument in 1982, but they didnt record the Resolution until 1994. The document indicates it is Historic-Cultural Monument No. 249. The property is also being sold with Mineral Rights. Please feel free to do a field trip to drive by and check it out and do not hesitate to reach out to me with any questions, I'll do my best to answer them!
Located in the heart of Wilmington, on a corner R2 lot....there are a few possibilities here for a potential developer/buyer. There are essentially 2 sections of the lot, one is contained by a chain link fence by the City to protect the historic monument, one is a large grassy and flat lot which appears to be about 4,000 sq ft (buyer to verify) of area to develop. The structure itself is a Civil War-era Powder Magazine, built in 1862, used to store gunpowder for the nearby Camp Drum. See link here: https://en.m.wikipedia.org/wiki/Powder_Magazine_(Camp_Drum). Current Sellers inherited the property that was purchased in the 1970's as a Duplex. When the Seller went to tear the duplex down to rebuild in the 80's I believe, the powder magazine was discovered and revealed. The City claimed it as a historic monument and the owner decided not to build. According to my title rep, It was declared a Historical Monument in 1982, but they didnt record the Resolution until 1994. The document indicates it is Historic-Cultural Monument No. 249. The property is also being sold with Mineral Rights. Please feel free to do a field trip to drive by and check it out and do not hesitate to reach out to me with any questions, I'll do my best to answer them!