Historic properties in Springfield on the auction block

Springfield is a mid-sized city, and like most other mid-sized cities in the current economic and social climate, it is working to reinvent its downtown area. This includes the renovation and redevelopment of historic buildings that have, in most cases, spiraled into disrepair.

Communications Director for the city of Springfield, Karen Graves, says the city wants to facilitate and work with developers who want to make the investment to revitalize these structures. For buildings such as the Edward Wren and Fairbanks buildings, the work has already begun.

The Wren Building has received extensive tax credits to be renovated. The historic structure used to be the home of Farmers National Bank and the Kaufman Department store. It is slated to become a mixed-use development combining residential housing and commercial space.

“The city is supporting the redevelopment through a Community Reinvestment Area (CRA) tax abatement. New or remodeled residential units are eligible for a 15-year, 100% exemption on the increased assessed value attributable to improvements,” Graves explains. “Commercial portions of the project are eligible for a 15-year, 50% exemption on the increased assessed value attributable to improvements.”

The Fairbanks Building, now called Hull Plaza, is undergoing a planned mixed-use development as well, involving residential and commercial space.

Graves says the city entered into a development agreement with AP Development LLC, the developer for the project, and their agreement includes a $450,000 forgivable loan with up to $600,000 in eligible TIF reimbursement. 

Now, community leaders are hopeful that similar redevelopments will take place in the city’s other historic buildings.

Chris Cox is the relationship manager and auctioneer for Ohio Real Estate Auction. They currently have the Lagonda Club Building, 136-138 E. High St., and the Rockaway School Building for auction on their website. For him, in the hands of the right developer, the properties have real potential.

“It is rich in history,” Cox says of the Lagonda Club Building, which was built in 1895 by renowned architect Frank Mills Andrews and served as the home to its namesake and later the Chamber of Commerce. The building is already recognized as a National Register Landmark and features classical stonework, arched windows, and ornate detailing throughout.

“This versatile building offers exceptional visibility, walkability, and access to nearby development, dining, and government services,” he says. “Whether you’re an investor, business owner, or developer, this is your chance to own a piece of a growing downtown district — selling to the highest bidder.”

Cox adds that the building is surrounded by ongoing revitalization and community investment and could be ideal for retail, office, studio, or mixed-use redevelopment.

While there are no set plans in place for the Lagonda Club Building, the city remains open to the possibilities these historic buildings hold as they go to auction. 

“The city is not aware of an immediate redevelopment plan for the building; however, the city is prepared to work collaboratively with the new owner to bring the properties into compliance and hopefully revitalize the historic structures,” Graves explains.

The other Springfield property on Cox’s radar – the former Rockway School, 3500 W. National Rd. – sits just outside of the downtown area, but by his estimation, “is ready for a new chapter.” Since closing its doors in 2023, the building has been vacant. 

Cox says buyers have the opportunity to own a piece of Clark County history. The property has over eight acres and features a large main structure, educational wings, classrooms, an asphalt parking lot, auxiliary structures and a gymnasium with a stage.

As he sees it, there are several redevelopment possibilities for the property, like educational facilities, an event space, a community center, a church campus, a nonprofit’s headquarters, or other specialty use.