Prime downtown location at the visible corner of Alder and 4th Street! This historic building, originally constructed as an opera house by Howard R Keylor in 1905, later became known as the Paramount Theater. It has had a rich and versatile history, including hosting live events. For the past three decades, it has served as a jewelry & loan shop. The exterior brick walls have been repointed, and the building features an elevator with a new motor, generous client space, office areas, and multiple rooms suitable for various purposes, including storage. Its distinct character and flexible layout present an exceptional opportunity for ownership, welcoming a range of potential uses. Living space has been approved from the 1st floor and up.