A historic Center City building, once home to the Philadelphia Elks Lodge and later the Salvation Army, is currently on the market for $5.75 million, writes Paul Schwedelson for the Philadelphia Business Journal.
The three-story building at 1320 Arch Street, facing the Pennsylvania Convention Center, was built in 1905. Currently vacant, it offers potential buyers a chance to reposition the property.
“Each investor has a different angle that they see that they could turn the building into that would make it a viable economic option, make it profitable,” said listing agent Nick Giganti, president of Hunters Commercial Real Estate. “It’s cool because you’re getting different out-of-the-box thinking from some of these investors.”
Due to its CMX-5 zoning, the most lenient designation in Philadelphia, the building, which has a commercial kitchen in the basement, could be turned into a boutique hotel, apartments, or used as a coworking space, among many other options.
The building has individual rooms on the upper floors as the Salvation Army used to use it for lodging, but the walls could be removed, which would create an open floor plan.
Additionally the property may qualify for historic tax credits that could help with any renovation costs.
Read more about the historic building up for sale in the Philadelphia Business Journal.
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Editor’s Note: This post first appeared on PHILADELPHIA Today in January 2025.
