A $1 million reduction in its asking price is generating more interest from perspective buyers of the Franciscan Sisters of St. Joseph property in Hamburg.
The religious order dropped the asking price for the 18.48-acre South Park Avenue property from $3.5 million to $2.5 million, according to its listing agent, Vito Picone, McGuire Development Co. director of business development.
Since the property was placed on the market last year and has drawn interest.
"This (the price reduction) might bring some back to the table," Picone said. "Or, it might bring some new offers in."
The property includes a 20-year-old 57,966-square-foot, 40-bed residential health-care facility along with a 116,630-square-foot, 165-bed health care residence and a two-story, 5,364-square-foot stand alone home.
The religious order closed the residential facility two years ago.
"Because of its uniqueness, we have had a lot of showings," Picone said. "But, also at the same time, because of its uniqueness, it has taken some time to close this deal."
Besides its large size and buildings, the property has certain key advantages including neighboring both Hilbert College and the Immaculata Academy. The Erie County Fairgrounds are less than one mile away.
"There has been a number of what I'd call positive showings," Picone said. "And, we are just starting to get a round of second showings."