A beautiful architectural monument can be seen in Chervone village. The huge palace in the Neo-Gothic style is decorated two towers, one octagonal and one tetrahedral. It has preserved striking Gothic elements – lancet windows, buttresses, merlons and spires on the towers, and stone carving.

Some rooms of the palace are occupied by a nunnery, while the rest of premises need restoration.

In the middle of the 19th century A. Ya. Tereshchenko, the founder of the dynasty that owned many sugar factories, bought the estate with the palace from the widow of the Polish magnate Adolf Grokholskiy. Then the palace had a slightly different look than now. It was a symmetrical rectangular structure.

After the death of Tereshchenko the palace was inherited by his son Fedir Artemiyovych. He built a sugar plant in Chervone, which is still operating. He ordered to rebuild and greatly expand the palace, too.

The next representative of the Tereshchenko family, Fedir Fedorovych was the founder of the Ukrainian aircraft industry. He is less known than his eminent relatives, because at the age of 29 he emigrated to escape the revolutionary-minded compatriots. Yet he spent some time at the palace. In the territory of the plant he arranged an aeronautic workshop and created a testing airfield nearby. Under his leadership and by his project there seven «Tereshchenko-7» airplanes were constructed in 1916.