Former Michigan school bought for $40,000 is now partly converted into 5 homes

A former school building on a Michigan Air Force base has undergone a remarkable transformation since it was sold for just $40,000 in 2011. Fifteen years later, the 39,000-square-foot property has one wing converted into five residential units and is now listed for $450,000.The unusual property at 530 Mitchell St. in Gwinn, Michigan, is offering potential buyers an opportunity to turn a former educational facility into a residential, commercial or community-focused project.Situated on 19.38 acres at the former K.I. Sawyer Air Force Base, the one-story building dates back to 1960 and still retains much of its original school layout, including classrooms and a gymnasium.From $40,000 sale to $450,000 asking priceAccording to Realtor, property records show the building last changed hands in 2011, when it sold for only $40,000.