These insane dream mansions sold for crazy money
A builder who purchased a crumbling historic mansion in Michigan for just $1—and saved it from near-certain demolition—has revealed how he transformed the decrepit property into a thriving apartment building that is now being offered up to its next savvy steward for $1.
13 million. Tucked into a beautifully preserved historic neighborhood just two blocks from Michigan’s beloved Depot Town, the painstakingly renovated Gilbert Mansion stands not only as a gleaming example of 19th-century residential architecture but as an inspirational example of how hard work and ingenuity can make a family millions. Yet when builder Christopher White and his brother, Steve, came across the Ypsilanti property in 1986, it appeared to be anything but a lucrative investment, even with its nominal asking price of $1. What others may have viewed as an imminent disaster, however, the siblings saw as a project with the utmost promise. Having handed over their dollar bill, they proceeded to renovate it with the utmost care and consideration, painstakingly restoring its most impressive original elements, while imbuing the dwelling with many modern amenities. While the duo’s restoration of the home has become the stuff of local legend, the hallowed origins of the property have long been cemented in the community’s history books.A builder who purchased a crumbling historic mansion in Michigan for just $1 is now being offered up to its next savvy steward for $1.13 million.Built in 1861—the same year President Lincoln called for 75,000 volunteer troops at the outset of the Civil War—the brick mansion is a textbook specimen of the Second Empire Mansard style, complete with two square towers, ornate bracketed cornices, and a patterned slate roof that has somehow outlasted nearly everything around it. By the mid-1980s, however, this grand dame had fallen on hard times. City officials in Ypsilanti had spent seven fruitless years trying to find a buyer for the “white elephant,” and sadly, demolition seemed the most likely option. Windows were broken and boarded up, eaves sagged and rotted, ornate brackets were falling off, bricks were crumbling, paint was peeling, window frames had deteriorated, and the original front door had disappeared entirely.Then along came the two White brothers with a plan that saved the day for the stately manse. “The city was taking proposals to find the best fit for the community,” Christopher, who has now owned the property for 40 years, tells Realtor.com. “Someone proposed a bed and breakfast. Someone else proposed office space.” Christopher and his brother had submitted their plan to turn the mansion into an apartment building—but they believe that it was pedigree, not proposals, that likely won them the bid. The Whites had already made a name for themselves renovating distressed historic properties in the area, including two homes on nearby Pearl Street in Ypsilanti that they had just finished converting into five-unit and seven-unit buildings.Their track record spoke for itself, and the city decided they would be the best stewards of the historical jewel.What followed was 14 months of painstaking, back-breaking work. The interior was stripped down to the studs—a complete gut, with two notable exceptions: the beautiful original hardwood floors were preserved, and a rare Pewabic tile fireplace, a prized artifact of Detroit’s storied decorative arts tradition, also remained intact. Everything else was rebuilt from scratch, including all-new mechanicals, drywall, and finishes throughout. On the exterior, the Second Empire Mansard design was restored to its original beauty. Inside, the common halls were kept in their historic configuration. But the rest of the 8,000-square-foot structure was carefully converted into seven luxury residential units, ranging from 800 to 1,200 square feet each. In fact, the only element that didn’t require an in-depth restoration was the slate roof, which was still in near-perfect standing—despite weathering more than a century of Michigan weathers.“We purchased it in 1986 at a cost of $1—and that was not a typo,” builder Christopher White recalls.“As far as the slate roof goes, it stood the test of time and is in great shape to this day,” Chris reveals. The renovation also came with its share of intrigue. Rumors had long circulated that the Gilbert Mansion was connected to the Underground Railroad, and many believed that a tunnel ran between the Tucker House and the mansion. The Tucker House was associated with Preston Tucker, the Ypsilanti-connected visionary behind the legendary Tucker ’48 automobile. But while Chris and his brother searched endlessly for a tunnel throughout the renovation, they “never discovered any signs,” although he admits “it was exciting to search for it.” The tunnel was just one element of the home’s history that required the brothers to become experts in the home’s origins, however. To do a first-class renovation, the White siblings had to extensively research the Second Empire style, which has its roots in the reign of Napoleon III, who undertook a sweeping transformation of Paris beginning in 1852.What others may have viewed as an imminent disaster, however, Chris and his brother, Steve, saw as a project with the utmost promise.The style reached peak popularity in the United States between roughly 1855 and 1885, particularly in the Northeast and Midwest. It was considered the height of fashionable modernity and became known colloquially as the “General Grant style” for its widespread use in federal buildings during the Grant administration. The mansard roof is the style’s defining feature: a four-sided, double-sloped design often marked by dormer windows. Other hallmarks of the style include elaborate bracketed cornices, ornate window hoods, decorative iron cresting along the roofline, and—as seen prominently on the Gilbert Mansion—square towers that lend the structure an imposing, castle-like silhouette. Brick Second Empire homes like the Gilbert Mansion are somewhat rarer than their wood-clad counterparts because of the higher expense of masonry detailing. That makes the building’s survival and restoration all the more remarkable., is a fully occupied, income-producing residential property with zero vacancy. Its seven units rent for between $1,050 and $1,575 per month.“Our tenants have mainly been working professionals from Ypsilanti to Ann Arbor and all the way from Detroit,” he said. “The only students we allowed were those seeking a master’s degree.”Today, the Gilbert Mansion, listed on LoopNet, is a fully occupied, income-producing residential property with zero vacancy. Its seven units rent for between $1,050 and $1,575 per month.That’s the kind of tenant profile that reflects both the quality of the renovation and the caliber of the neighborhood. Because the property is currently occupied, the brothers were unable to take interior images of the home for the listing, but its consistent leasing history more than demonstrates how comfortable its tenants have found themselves. After 40 years and countless hours of hard work, the White brothers are still on good terms, Chris says, noting that their decision to list the home comes down to one very simple factor: “Time to retire!”“Best advice is to be patient,” Chris said, giving advice. “Good deals take time, with a lot of searching and a lot of offers. Do your due diligence and take your emotions out of the deal.”The duo has sold off all their many other projects over the decades, with the Gilbert Mansion being the last remaining under their ownership. Chris has some sage advice for anyone who would like to follow in his footsteps by finding troubled properties and turning them into profitable historic treasures. “Best advice is to be patient,” he says. “Good deals take time, with a lot of searching and a lot of offers. Do your due diligence and take your emotions out of the deal.”Pentagon preparing for weeks of ground operations in Iran — as Trump warned regime to ‘get serious’ about peace deal: reportOne of the world’s most famous design offices launches ultra-luxe prefab homes -- for a fraction of the price of a standard houseMartha Stewart says this eyeliner ‘helps a lot’ — and it’s on sale at AmazonA builder who purchased a crumbling historic mansion in Michigan for just $1 is now being offered up to its next savvy steward for $1.13 million."We purchased it in 1986 at a cost of $1—and that was not a typo," builder Christopher White recalls.What others may have viewed as an imminent disaster, however, Chris and his brother, Steve, saw as a project with the utmost promise.Today, the Gilbert Mansion, listed on LoopNet, is a fully occupied, income-producing residential property with zero vacancy. Its seven units rent for between $1,050 and $1,575 per month."Best advice is to be patient," Chris said, giving advice."Good deals take time, with a lot of searching and a lot of offers. Do your due diligence and take your emotions out of the deal." Stream It Or Skip It: 'Jo Nesbø's Detective Hole' On Netflix, Where A Troubled Detective Tracks Down A Serial Killer Who Is Terrorizing Oslo
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