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Shriners Hospital site on Richmond Road for sale, asking $25.9 million

The Shriners Hospital for Children on Richmond Road in Lexington last March. A new hospital is being built at South Limestone and Conn Terrace, across from the University of Kentucky Chandler Hospital.
The Shriners Hospital for Children on Richmond Road in Lexington last March. A new hospital is being built at South Limestone and Conn Terrace, across from the University of Kentucky Chandler Hospital. cbertram@herald-leader.com

The Shriners Hospital property, a fixture on Richmond Road since 1955, is for sale.

The asking price for the 28.34 acres of land: $25.9 million. Jim Kemper with NAI Isaac commercial properties has the listing.

The broad slope in front of the hospital, on which many Lexington children grew up sledding in the winter, is considered developable land as part of the sale, said Gary Foster, the Shriners real estate marketing manager. About half of the site’s land outside the 117,000-square-foot hospital is undeveloped.

“We consider the site to be further developable,” Foster said. “There are some engineering challenges associated with that, obviously.”

The Shriners organization is based in Tampa, Fla.

Foster said that the property has drawn some interest, but “we would like to get some exposure beyond just Lexington or the region.”

“It is a pretty spectacular site,” Foster said.

The first Lexington Shriners Hospital opened downtown in 1926 as part of Good Samaritan Hospital as a treatment center for children with polio. A second Shriners was built in 1955 at 1900 Richmond Road, with a newer version opening in 1988.

The hospital now treats pediatric orthopedic patients. For much of its history, Shriners hospital prided itself on having no billing departments, instead providing care without regard to financial resources. In 2011, the hospitals began to bill insurance companies and charge co-payments to families who could afford it.

The $47 million Shriners hospital being built just across the street from UK HealthCare’s Kentucky Children’s Hospital is at South Limestone and Conn Terrace. It is expected to open in 2017.

Cheryl Truman: 859-231-3202, @CherylTruman

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