18 June 2012

Missile silo homes: the ultimate BOL?

When it comes to picking a BOL, many people typically think of something in a remote location, e.g., a cabin in the woods, perhaps. Of course, some people have a vision for secure, prepared living that has a bit grander scope: living in a decommissioned missile silo. Today, we take a look at a few examples of this "ultimate" in a luxury BOL.

On of the highest profile missile silo projects are the "Survival Condos" by established by developer Larry Hall:

Hall's Survival Condos have been the topic of a many, many articles and blog posts on the Web like these from AFP and The Blaze. Of course, not everyone's totally sold that Hall has thought things through well enough, as shown in this post by News from the Front. Hall's work on getting his project noticed has also attracted ridicule, landing it in places like this Broken News clip.

Of course, these missile silo condos aren't cheap, with a half-floor unit (about 900 square feet) going for a million dollars, and a full-floor unit (around 1,800 square feet) costing twice that. And, according to this CNN Money video, banks are a little skittish about loaning money for real estate designed to be around beyond their ability to collect a return.

Nonetheless, Hall's Survival Condos website (as well as this Daily Mail article) indicates that all of the initial units are now sold. Of course, the AFP article mentioned above indicated that Hall has options to retro-fit three more silos after the first one. But, that could be a long while in coming.

However, that doesn't necessarily mean you have to be left out in the cold. For one thing, you can check eBay. Listed as one of the 10 most expensive items ever listed on eBay, missile silo properties do get posted for auction there from time to time, whether it's this one from May 2012, or one from 2002.

The latter eBay auction from 2002 was for a place called Silohome. Though fairly pricey at $1.76 Million, it is pretty nice. This is especially true when you consider that for less than the $2 Million price of one of Hall's Survival Condos, you can buy the full Silohome package that includes a log home on the surface, a 10-acre runway lot with a 42' x 46' airplane hangar, and about 180 acres of other land around the site.

What's more, there are other missile silos that have been (or can be) transformed into secure living space. Edward Peden bought a decommissioned Air Force missile base in 1982 for $40,000 (just under $100,000 in 2012 dollars). That's quite a steal, considering that the base cost $25 Million in 1960 (about $82 Million in 1982 dollars or $194 Million in 2012 dollars). He's converted the base into Subterra, which you can see in the video below:

Peden has gone on to make a business out of missile silo homes and properties. You can check out more about Subterra, along with more information and photos of his other properties, on his website, www.missilebases.com.

So, what do you think of these kinds of BOLs? If you had the money, would you consider one? Why or why not?

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