You would be in better shape if you had the architectural plans complete and a contractor bid or two. 

First, we need to establish architectural assets vs liabilities.It's basically a good-looking building with nice, large, multi-paned windows, and two good contrasting finish materials, brick and siding.

If the seller will only sell with a balloon, then demand a clause with the option to extend with no, or low consideration.I see great architecture, especially commercial, in some of the small towns in Texas.

If you do not have any experience in development and understand the approval processes, architecture, engineering and construction costs, forget this alternative. 

I am about to rip a roof off in EAV  (Atlanta, Georgia) and might need some engineering and architecture help. 

Louis architecture.

@Michael Gonzalez In addition to being an architect, I am an architectural photographer and occasionally shoot for real estate.

Even if it's architecturally necessary for the looks outside, it could have been replaced with glass block or raised to the top, etc.8.

It is a jalousie window, Florida's contribution to architecture.  

Architecture fees alone are going to $30k+ on a $600k building.