05/29/2026
I’ve debated making a post like this, but with recent conversations online about preserving historic buildings, I wanted to share a little perspective from our own experience. This is not meant to criticize anyone or pretend we have all the answers — just to give some insight into what can go into saving an older building.
We purchased our downtown building in January 2023 for under $20,000. It’s a relatively small building at around 1,200 square feet total between both floors, and even with its size, the amount of work required was substantial.
The second floor had major structural concerns, there was almost no usable electrical, and years of deferred maintenance had taken their toll. We invested roughly:
• $70,000 for structural repairs, demolition, ceiling work, electrical installation, and cleanup
• $7,000 in masonry and tuckpointing
• $5,000 in additional electrical work
• $30,000 replacing storefront windows and doors, reopening an upstairs window, and replacing rear windows
• $5,000 for roof repairs
• $2,000 for gutters, trim, and exterior paint
• $7,000 for drywall and interior finishing
• Additional plumbing, water heater work, and specialty plumbing costs
Before we ever opened the doors for business, we had already invested well over $150,000 into the building alone.
If we were to sell our building right now we would be lucky to get between $75-100k for it.
Then came business-related expenses: fixtures, inventory, utilities, insurance, taxes, and a backup generator to protect live animals during outages. We were fortunate enough to receive grant assistance from the DeWitt County Development Council for part of that expense, which we greatly appreciated.
It took about a year and a half before we could even open. During that time, money continuously went out while nothing came in. We were close to $200k in the negative before we ever sold a fish.
We are fortunate that this was a side business and passion project for us, because honestly, I have a whole new respect for anyone trying to make a full-time living while also restoring and maintaining a historic property. These buildings are beautiful and important, but they are also incredibly expensive and challenging to maintain.
I absolutely believe preserving the character of downtown matters. I also think we need to continue finding ways to encourage development that brings people to the square rather than leaving empty spaces behind. At the same time, I think these conversations should include the realities property owners face — especially with aging buildings, rising costs, and ongoing maintenance needs.
Historic preservation is important, but it also takes significant time, money, and long-term commitment. I don’t think there’s one simple answer, but I do think understanding the challenges helps create more productive conversations moving forward.
Getting off my soap box now. Happy Friday. 🙃
