September 24, 2021
Landmark Auction: The Arcade Cleveland
Another Landmark has appeared! Tomorrow, Saturday, September 25th, at 8:00 AM PT, we will begin the reverse auction for the Arcade in Cleveland, OH! If you’d like to purchase this incredible property, simply head to the provided address at the given time and players will be able to mint as soon as the property unlocks.
The Arcade Reverse Auction
The Arcade Cleveland was actually the very first indoor shopping center in the United States! Built in 1890, the elaborate structure originally cost $875,000 to build before undergoing renovations in 2001 to the tune of $60 million. Designers John M. Eisenmann and George H. Smith modeled it after the Galleria Vittorio Emanuele II in Milan, Italy to create a sense of grandeur.
The Arcade Cleveland opened in May of 1890 as the first indoor shopping center in America. It quickly became one of downtown Cleveland’s most popular landmarks, and was nicknamed Cleveland’s Crystal Palace.
Fun Facts about The Arcade
- One of the original financiers of the Arcade Cleveland was none other than John D. Rockefeller himself!
- The Arcade Cleveland features a five-story glass atrium that displays ornate metal decorative work alongside fearsome gargoyles with red light bulbs in their mouths.
- The Arcade was actually Cleveland’s very first building listed on the National Register of Historic Places.
Price Analysis
The Arcade Cleveland is located at 401 EUCLID in Cleveland and checks in at a modest 713 UP2. Had this property not have been a landmark, the original minting price would be 328,693 UPX.
Based on landmark premiums, the Arcade’s minimum suggested minting price has been estimated at 2,366,590 UPX. The starting price for this landmark will be 15,000,000 UPX, from which we will work our way down to the suggested mint price. The Arcade Cleveland is one of the most iconic locations in Cleveland, and the winner will be lucky to own such a fascinating structure.
Price Reduction Schedule
Best of luck to all our auction participants!