The city of Thunder Bay has put the old Lyceum theatre building on North Cumberland Street up for sale.
City hall took control of the property after its previous owner let it fall into tax arrears.
Councillor Larry Hebert, who sits on Thunder Bay's heritage advisory committee, said he expects the building will attract buyers.
“With the potential of the events centre coming, it's going to be an area that I think people will be interested in being close to,” he said.
The building was spared the wrecking ball last year when it was deemed structurally sound. But Hebert said an estimated $70,000 worth of work is needed to repair the roof.
The minimum tender for the property is $115,000.
Hebert noted the work to repair the roof is the city's responsibility, and any costs incurred by the city to repair the roof could be added to the purchase price.
"I thought [that] would have been done by now, but it hasn't been,” he said.
“I guess there's a real scarcity of roofers right now. They're doing a lot of different things."
Hebert said he hasn't heard any concrete expressions of interest from buyers yet, just "lots of rumblings."
The Lyceum building is on the city's heritage registry, meaning the city has the right to postpone any planned demolition for up to 60 days to assess the historical aspects of the property.