Thanks guys. The basement is finished with a sheetrocked ceiling and there are also some random posts in the middle of the basement that limit where you can either put a screen, projector, seating, or all of the above. The way it is done, there is no clear spot for it just because of the size. The one potentially good location for it already has a built in bar/7.1 surround sound set up already there with a spot for about a 55" TV to be hung on a wall between the front, left, and center speakers. If I wanted to put the screen there the left, center, and fronts would have to move but there really isn't a good place for them with the built in bar. Plus I think because of the posts, the seating would be too close to the screen anyway.
My problem with it in the living room is that I don't love the projector just hanging there. If I could do a motorized mount to hide the projector when it is not in use I definitely would leave it, but I looked into the cost of that and scraped that idea pretty quick.
I had a feeling the projector wasn't worth much but I'm surprised about the screen. I know it is a few years old but being a Stewart and motorized like it is, I thought it was worth a few bucks. Oh well. Thanks again.