1930, I had the dream of buying that building if I ever won the lottery, but I don't buy lottery tickets very often.
The church decided we needed a new building due to growth and due to new demographics of our city. A plot of land in what was deemed a better location was bought and a new church was built in about 1961. The old church sat for years empty, but was used by several non-denominational church groups over the years, then later was a Mormon Church for a few years. It had had a for sale sign on it for the last 10 years or so until Karpeles bought it.
One of the Karpeles representatives told me that the asking price was very steep, but due to its condition, and the last owner's desire to unload it, it was bought for about $85,000! They will spend a couple million in the restoration, according to him.