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Want To Buy A Church? Bellevue First Congregational Church Hits The Market

For over 100 years, Bellevue First Congregational Church has called 752 108th Ave NE home. Before Microsoft, before skyscrapers, heck, before anything, the church was here. Now, it sits in the middle of a prime development zone and they've decided to strike while the iron's hot in order to make enough money to purchase cheaper land in a cheaper location and build a much-nicer church.

Zoning laws permits a 450 feet tall building on the property, which is estimated to be worth $20-25 million in 2011. While it is possible that the land could be used to build an apartment complex or hotel, the most likely scenario is that it will eventually become an office tower.

A 23-story office project is planned east of First Congregational by Beacon Capital Partners and Rockefeller Group of New York is planning three office towers just west of the property. Even so, Bellevue still has one of the lowest office-vacancy rates in Western Washington so demand for this space will still be high.
· Bellevue church ready to sell in hot market [Seattle Times]