Some buildings become part of a neighborhood's identity, and 87 High Street is one of them. After serving Portland families as a daycare and preschool for many years, the historic West End property has sold and is slated for a new future as a boutique hotel.
The 13,248± square foot commercial building was purchased by Lafayette Club LLC from Saint Elizabeth's Roman Catholic Asylum for $2,500,000. Joe Malone, CCIM, and Luke Malone of Malone Commercial Brokers brokered the transaction, which closed on June 23, 2026.
Originally constructed in 1873, the brick building has remained a familiar presence in Portland's West End for more than 150 years. Its historic architecture, highly visible corner location, and redevelopment potential made it one of the more unique opportunities to come to market in the city. Located within the RN4 zoning district, the property offered flexibility for a range of future uses while preserving the character that has long defined the neighborhood.
The Buyer plans to transform the former daycare into a boutique hotel, bringing a new hospitality option to one of Portland's most walkable neighborhoods. As visitors continue to seek authentic places to stay, projects like this highlight the value of reimagining historic buildings while maintaining the architectural character that makes Portland unique.
Historic redevelopment opportunities in Portland remain limited, particularly in established neighborhoods like the West End. Transactions like this demonstrate the continued demand for well-located properties that offer both history and the potential for a new vision.
Malone Commercial Brokers was proud to represent the Seller in the successful sale of this landmark property and wishes both parties continued success as the project moves forward.