The Cleveland Athletic Club building sold at auction Monday for $3.3 million to N.J.-based lender Waring Investments
Local developers suspect, however, that Waring doesn't actually want the property. They think Waring will likely turn it over to a local developer eager to convert the historic building on Euclid, which has been vacant since 2007, into apartments. (Waring has 30 days to make up its mind).
The only other company to bid on the building Monday was developer Fred Geis, who bowed out at $3.2 million. Doug Price, CEO of the K&D Group, attended the auction as well but elected not to bid when it was clear Waring was in it to win it.
The Cleveland Athletic Club building was built in 1910, two years after the formation of the club. Offerings included swimming, bowling, billiards, a card room, dining room, and 12 overnight guest rooms — hubba hubba.
The Encyclopedia of Cleveland History reports that
in 1922, Johnny Weismueller (Tarzan!)
set the world record for the 150-yard backstroke in the CAC pool.
Due in large part to the Euclid Corridor Project construction, the CAC closed in 2007.