Most sources have reported the December 2003 sale price of the Nord St. Louis Turnverein to troubled DHP Investments at $100,000. Before yesterday, I had not learned the real sale price: $44,000.
Of course, the Turnverein likely needs $3-5 million in work to complete a full renovation -- so even the lowest price is a hard bargain. But still, if the previous owners were willing to sell for such a low price, any developer had a chance at the building. I suppose in 2003 DHP Investments seemed like a good developer for the property, although I know almost no one involved in historic renovation work that ever had any contact with the company. I know of no projects that DHP completed.
The good news is that the Turnverein now can be had for at least as low as $44,000, if not much lower.