There's extra capital needed to remodel the 3-5th floors, but I don't know what kind of options there are for funding that.The area is on the border between downtown and a less friendly neighborhood, but the city just got a big government agency to move in about a year or two ago.

Check out some of Immanuel and my other posts for details backing this up but suffice to say Notre Dame is working with SB to bring in high tech industries, there is a new power plant going in south of town, it still has great manufacturing including trailer construction, it is on the intersection of 2 busy highways 80 & 31, and it is less than 2 hours from downtown Chicago which is one of the largest inland ports in the world.

There's a lot of charm downtown but those MFR are laid out a little weird and could present issues with young residents.  

Our downtown area is adding so many rentals and condos.Still SFR's rent and sell well.

I could have bought downtown Palo Alto and sat back to just collect the rents and been a multi millionaire in short time without all the Sweat Equity that I have had to put into my rentals here in S.

There is even a downtown apartment in Wapello asking 30k with 3 units.

I live in Buda and recently closed on a new home in Garlic Creek while renting my other in Downtown Buda.  

My bride and I want to invest in downtown condos in some select markets like KC, but for now we are trying to raise the money and develop the credit to do so.

@Elbert Dockery, I am looking at Lake County, Indiana, as it's only 35 minutes from downtown Chicago.  

Also, knock down potential  - old tired rentals in the rapidly changing neighborhoods around down town areas.