A unique and storied piece of Bay Area history is up for sale, the East Bay Municipal Utility District recently announced. 

The Dingee Reservoir — a 1.83-acre site on the corner of Bullard Drive and Estates Drive in Oakland — is an underground, decommissioned water reservoir that will be sold as-is for a minimum of $2.5 million, the utility district said

According to the utility district’s marketing materials, the reservoir is capable of holding 4.7 million gallons of water once it reaches capacity at its 772-foot-tall spillway and has a 10-inch valve that can be operated from the structure’s roof. Another pipe extends from this valve to a storm drain operated by the city of Oakland. However, the reservoir was drained and permanently removed from service in 2014, the utility district says — and it will not be reconnected to the agency’s water distribution system. 

Aside from its unique features, the decommissioned site has a controversial past. 

Originally constructed in 1894 by millionaire real estate developer William Dingee, the reservoir was built to challenge the region’s water monopoly, initiating a rate war between competing companies at the time. 

Perhaps as a result, in 1896, Dingee’s reservoir was mysteriously damaged, the San Francisco Examiner reported: A 14-ton chunk of granite was strewn about the property, and investigators discovered a fuse in the wreckage, suggesting dynamite was used to blow up the parts of the structure. After discovering this “malicious” evidence, Dingee reportedly hired private police to patrol the reservoir and prevent further attacks. 

Dingee’s problems continued in 1899, when his 19-room mansion, the Fernwood, was reduced to ashes in a devastating fire. Once described as the most magnificent home in California, it reportedly had miniature lakes, conservatories and fountains, which were tended to by live-in staff members. 

The real estate developer’s woes only persisted. In 1908, Bay Area news outlets began to question Dingee’s alleged millionaire status. Reports said that the “‘cement king’ of California” and former water magnate had been avoiding financial investigation from local authorities. Despite his vast wealth, for reasons unknown, Dingee’s fortunes collapsed around that same year. He then exiled himself to Sacramento, vanishing into obscurity.

The East Bay Municipal Utility District is accepting public proposals until Nov. 22 and plans to select the property’s new owner by mid-December or January.