In particular Overland Park, Olathe, Lee's Summit, Blue Springs and North Kansas City.

There are multiple billion dollar companies dumping money into the city, such as Intel, Google, Honda, and Amazon.

If the seller is trying to avoid legal issues with the city for illegally operating a property I would get out of that.

What if the city shuts the entire thing down until the basement is converted?

Hello Jaycee, Open to most areas other than north city.

There are a lot of roofers, not as many flat roofers and really not as many that are licensed in the city with insurance.  

There is a city wide ruling that it isn't allowed.

It’s an uphill battle with the city; many investors can look at this and see that this only forces appreciation and get in even though the cost to play is high.Hope that makes sense.

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

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?