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Maple Avenue building sells for redo in Dallas' Oak Lawn district

Property investment group buys Maple Avenue building for redo and reuse.

Investors who've purchased a storied Maple Avenue property are planning to revamp the vacant building.

A subsidiary of Dallas-based MQ Cos last week purchased the former home of the Greater Dallas Hispanic Chamber of Commerce at 4622 Maple Avenue.

The real estate investment group, which owns other properties in the neighborhood, plans to move its office to the building after renovations are complete.

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"It's in a great deal of disrepair and it was posted for foreclosure," said MQ Cos' Sands Harris. "The taxes hadn't been paid and its been vandalized."

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Located across the street from Maple Avenue legacy restaurant Ojeda's, the 2-story office and retail building with Mesoamerican design details was started in 1992 by the Hispanic Chamber

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and the Maple Avenue Economic Development Corp. The building originally cost more than $1 million.

The Hispanic Chamber later moved out of the building and after a series of tenants the property was left vacant.

Sands says that his firm will use about 60 percent of the building after it's redone.

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"We will have a retail space on the ground floor," he said. "And there will be another office suite upstairs.

"We are not going to change its image much, just fix it up," Harris said. "It's a wonderful piece of history for the neighborhood and the this community."

Dallas real estate broker Candace Rubin negotiated the sale of the building. Terms of the transaction were not disclosed.

MQ Cos has recently bought up several blocks along Maple running north of Wycliff Avenue for future development.

And the company owns the historic Braniff International Airways Hostess College at 2801 Wycliff Avenue, which was built in 1967.

MQ Cos will use a Texas Property Assessed Clean Energy Loan (PACE) to financing the renovations of the old Hispanic Chamber building. The property will have low energy lighting, air conditioning, windows, insulation and rooftop solar panels.

Construction will be done by the end of the year, Harris said.