|A 25,220-square-foot Toronto mansion listed for sale at $1 is attracting attention. The true value of the heritage-designated property is probably higher than a dollar.|
After serving as a Salvation Army home for single mothers, Harris House was sold in 2011 to a developer for $1.7 million. It’s back on the market after plans to build condominiums on the site fell through.
|Property prices have climbed in the interim, and there’s nothing like it, making it difficult to know what the property is worth.|
The listing offers a hint, taxes are estimated at $35,207. That suggests an assessed value of $5-million. It's likely that the home will sell in the millions rather than the $1 asking price. Real estate agent Matthew Pringle said "We're just putting it out there and seeing what potential it has. There's no point putting a certain number on it because for some people it will be overpriced and for some it will be a steal."
|The home was built in 1902 for William Harris who in 1861 founded the Harris Abattoir Company, which became Canada Packers and eventually Maple Leaf Foods.|
The family sold it in 1927 for $20,000 to the Salvation Army.