Constructed in 1905, during Dallas’ emergence as a regional commercial hub, the Purse Building stands as one of the city’s few remaining pre–World War I warehouse structures still intact, restored, and available as a single asset. Buildings of this era—defined by craftsmanship, scale, and irreplaceable materials—rarely trade on the open market, making the Purse Building a truly once-in-a-generation opportunity in Downtown Dallas.
Tour The Purse Building https://www.pursebuildingdallas.com/building-tour
Located at 601 Elm Street, the six-story, approximately 65,000-square-foot historic landmark was originally developed as a warehouse and retains hallmark architectural elements of early 20th-century industrial construction. These include original exposed brick walls, heavy timber beams, tall industrial-style windows, and expansive open floor plates—features that are increasingly scarce and highly valued for adaptive reuse.
“The Purse Building represents a rare convergence of history, location, and redevelopment potential,” said Tanya Ragan, President of Wildcat Management. “Very few buildings from this period remain available—particularly in a core location surrounded by Dallas’ most significant new investment. This is not a replicable asset.”
The property is positioned at the center of Downtown Dallas’ ongoing transformation, just blocks from the new Goldman Sachs headquarters, Dealey Plaza, which attracts more than 4 million visitors annually, and the $3.7 billion redevelopment of the Kay Bailey Hutchison Convention Center. This proximity places the Purse Building within one of the city’s most active corridors for corporate, cultural, and tourism-driven foot traffic.
With large floor plates and restored infrastructure, the building is well suited for adaptive reuse, including a boutique hotel, residential condominiums, creative office, or mixed-use redevelopment. The property is also eligible for federal, state, and local historic tax credits, which can materially offset rehabilitation costs and enhance overall project economics.
Strategically offered at approximately $12.5 million, the Purse Building represents a rare entry point into a downtown submarket defined by accelerating demand and limited historic supply. Dallas continues to rank among the fastest-growing major U.S. metros, driven by population growth, corporate relocations, and sustained investment in its urban core—supporting both near-term opportunity and long-term value appreciation.
As one of the few remaining pre–World War I warehouse buildings still available in Downtown Dallas, the Purse Building stands apart as a scarce, legacy asset. Buildings of this caliber and historical significance seldom reach the open market, underscoring its position as a once-in-a-generation acquisition for visionary investors.
For more information or to schedule a private tour, please contact Wildcat Management.