PRICED $1,000,000 BELOW APPRAISED VALUE AND THOUSANDS OF DOLLARS IN RESTORATION GRANTS ARE AVAILABLE! Built from 1910-12 this building features solid 24” to 30” Indiana Bedford Stone, this 2-story retired Federal Building (Former U.S Post Office) offers so many possibilities. You will be amazed from the minute you walk in by grand architectural detail with domed ceilings and marble floors. At the end of the front lobby is a grand staircase, covered in travertine marble, which leads to the second floor with a long hallway with terrazzo floors all of which are not found in today’s new construction. Located on an oversized lot (0.63 acres), the property includes over 165’ of DEEDED deep-water frontage on the south bank of the Thunder Bay River. Over the last several years, the current owner has periodically allowed large tour boats and barges to take advantage of the deep draft and moor on the sea wall. No other private property is able to offer this great and unique asset. From the rooftop, you have a spectacular breathtaking unimpeded view of the waterfront, draw bridge, downtown Alpena, Alpena Marina, and Thunder Bay/Lake Huron. For the last 10 years, the City of Alpena has approved the property to be used as a private residence, but it is also zoned for commercial use. With over 15,000 sq.ft. (including a full unfinished basement), the possibilities are endless as there are thousands of dollars of grants available to help completely restore this building back to its original glory. This is a perfect venue for a future Restaurant, Wedding Chapel, Catering Hall, Bed & Breakfast, Office Building, and Medical Building. Zoned Residential and Commercial. There are multiple rooms on the 2nd floor that could be converted to bedrooms and some on the 1st floor. Total of 5 bathrooms, and 4 mop sinks. 1st floor has total of 5388 sq.ft, 2nd floor 4612 sq.ft., and the basement 5428 sq.ft.