LowBall offer on 10 years old listing, Goverment building

[Michael Hans]

I found an old 103 year government office building I really like, its been on the market for 10 years.  There are several older 60-120 year old goverment buildings the city doesn't know what to do with. They are trying to sell them and entertaining the idea of non-profits taking them over at the same time.

I have been pre-approved for a loan.

Would a 50% offer be reasonable on a  property with these conditions that has been on the market for a decade?