Since they are trying to restrict the use of the building to "creative economy professionals", the new owners will be limited as to what they can do with it. I imagine that will drop the price down considerably.
Fortunately not going to be 'luxury condos'.
"The Baxter Building, which came to the city of Portland as a gift in 1888 from philanthropist James Baxter, will be used as office space for creative enterprises in a deal announced this week by Maine College of Art and Northland Enterprises LLC.
Maine College of Art has owned the building at 619 Congress St. since 1983. It will sell the building to Northland, which plans to invest $2.2 million in its restoration and then lease it as office space to nonprofit groups and creative economy professionals.
The sale price was not disclosed.
MECA and Northland worked together to redevelop the Everett Hotel on Oak Street in Portland into a residence hall.
The Baxter Building is on the National Historic Register. Northland's plans call for adding a floor and installing an elevator. A closing date on the sale is targeted for mid-December."