The historic Ideal Building—not to be confused with the New Ideal Building nearby—in downtown Birmingham was recently sold in a $5.2M deal. The six-story, 14-unit multifamily apartment building was acquired by Birmingham-based Engel Realty earlier this month—keep reading to learn more.
New Owners of the Ideal Building
According to the Birmingham Business Journal, the historic Ideal Building in downtown Birmingham has new owners. On March 10th, Butler Ideal Building, LLC—an affiliate of Engel Realty—purchased the building from Ideal Building Partners, LLC for $5.2M. Ideal Building Partners, LLC originally acquired the building in 2020 after the building underwent a top-to-bottom renovation which transformed it from office space to multifamily apartment units.
Currently, the Ideal Building offers 14 three-bedroom, two-bath apartment units.
The Ideal Building is located in an Opportunity Zone and near several exciting & ongoing redevelopments of historic buildings, including the Taylor Building, the Webb Building and the Silver’s Building.
About the historic Ideal Building
Clad in white terra-cotta tile, the Ideal Building was constructed by the Aland family in 1929 for their family business, Ideal Department Store, which specialized in women’s fashion. In 1935, the business changed their name to The New Ideal and moved to several locations, finally landing at the corner building on 2nd Avenue North and 18th Street North. The New Ideal closed in 1990, but their name still lives on at The New Ideal Lofts, which is located in that same corner building.
After The New Ideal vacated the original Ideal Building, the structure housed several businesses—including Tillman-Levenson and Standard Furniture—before being transformed into a multi-tenant office space in 1995. Twenty years later, Atlanta developer Travis E. Taylor converted the space into the apartment complex it is today.
With a total of 14 apartment units, The Ideal Building is perfect for people looking to live in one of the busiest sections of downtown Birmingham. Located directly across from The Pizitz Food Hall and its delicious restaurants, The Ideal Building also offers walkability access to the McWane Science Center, the Alabama and Lyric Theatre, Railroad Park and all the things to do in Parkside.
Excited to see a historic building in downtown Birmingham get new owners? Tag us @bhamnow to let us know!