The historic Park Place property in Sheffield, Alabama, is on the verge of being sold following a highly anticipated auction. Sources indicate that the new owners hail from California and are expected to take control of the property later this month. This notable site, which boasts over 100 residential units, has long been a prominent feature of the Shoals neighborhood.
Originally constructed in 1948, the main building served as Shoals Hospital for many years before being transformed into residential apartments in the 1990s by local businessman Bob Love. The auction, which garnered significant attention in 2024, was listed for several months on popular commercial real estate platforms such as LoopNet. A new chapter for this historic structure was marked when it was auctioned off in December, starting at a minimum bid of $1.2 million.
As the sale approaches, there remains much to learn about the potential improvements and opportunities that this property may present in the near future.