Pursuing a SFR in the fashion I mentioned above would be more amicable, but this depends on your ability to enter.   

I remember reading something in the Wall Street Journal the other day that buyers lean toward modern finishes with a nod toward sustainable materials.

I think there are two maybe 3 ways to look at this in my mind.  1) you go into it and bring it all up to modern standards but using that old charm to basically take what is there bring it up to modern standards and rent it out essentially I'm thinking cocktail bar or something trendy like that.2) most banks are on really good centrally located real estate if this is true, then I'd consider it for the dirt, plan to scrape the lot and go vertical with whatever the highest and best use is.3) a kind of combo of the two, if the lot is in a good location and its doable, pull the vaults or other "character pieces" out of the building, scrape the lot, and build whatever is best suited for the site there, but incorporate those historical pieces into the final designs.Is the site near a major retail area? 

@Chirag Mehta For construction costs, you should be around +/- $100 PSF which would include all sitework, utilities, and going vertical with modern finishes.  

I did put in about 15k of work into the place to get it from the 1980's look to something more modern as the rentals I am competing against are newer builds, but at higher price points. 

It's a finance institute of one form or fashion, they will use it if it's in there best interest, and that means the person who holds the button to drop that ax.

They are suffering from their own stupidity, being "over-leveraged", and the investor from greed/fear inducing a good old fashioned Bank RUN on them, which they don't of course have the funds to pay out without bankrupting themselves.

This company operates several business :- life/wealth coaching/guru/whatever- day trading crypto- ecommerce aggregatorWhat they do basically they buy bankrupt or very young product company that sell real physical product like fashion, and resell their biz.

Left some of the character while adding modern amenities, brought it up to code, and staged it.

I only hold decent properties in nice areas, modern construction, etc.