Historic Dallas Commercial Building Hits the Market

The Purse Building, one of Dallas’ most historic commercial landmarks, is officially on the market. Located at 601 Elm Street in Downtown Dallas, the six-story red brick property was acquired by Tanya Ragan of Wildcat Management, who restored the building after it sat vacant for nearly three decades. In 2020, Wildcat completed a major core and shell renovation, preserving original architectural features while preparing the building for adaptive reuse.

Potential redevelopment scenarios for the 65,000-square-foot building include boutique hotel (102-116 key feasibility), creative office, residential lofts or condominiums, or mixed-use concepts combining retail, dining, and workspace. As a historic property, the building, which dates back to 1905, also qualifies for federal and state historic tax credits and local abatements, which can offset up to 45 percent of rehabilitation costs.

In 1963, the FBI commandeered the property as its command center during the JFK assassination investigation.