Swan sale finally closed today
United Way is first tenant in historic building since it was vacated by library
ALBION – More than six months after the board of trustees at Hoag Library approved an offer for the former Swan Library, the sale finally closed today.
The Hoag Library of the Swan Library Association sold the former mansion to Chad Fabry of Structuresmart Home Inspection. Fabry bought the building for $53,000.
The library moved out of the building in June 2012 to move to a new site with about 2 ½ times the space and much more parking.
The Swan building was constructed in 1851. Fabry wants to make the 6,000-square-foot building available for professional offices.
He has secured the first tenant for the building: the United Way of Orleans County.
“That’s a terrific anchor tenant,” he said today. “We’re super excited about the building. We’re excited about populating it with quality tenants.”
The $53,000 price included another $64 for the monthly garbage fee over the past four months ($16 a month).
The library agreed to pay $2,203 in closing costs, with the more costly items a survey for $600, legal fees for $500, $450 to redate the abstract, $300 to Farm Credit East for a release fee, and $212 for deed stamps.
Library President Kevin Doherty said the net proceeds of the sale, $50,861, will be used to pay down the mortgage debt owed to Farm Credit.
Fabry lives in Holley. He said he sees lots of potential in Albion, especially with the historic downtown buildings and many fine stately homes.
“It’s a beautiful town with a lot of beautiful architecture,” he said.