Sweetbay Magnolia (Magnolia virginiana) is pretty tolerant of average soils with average moisture. I would plan to provide supplemental watering when you experience droughty periods.

This species certainly doesn't require boggy conditions in the landscape, but it doesn't mind excess water - such as near a downspout - and that's the kind of location I recommend to people who don't pay much attention to plants after installation. Sweetbay would prefer soil of acid reaction, but grows just fine on the circumneutral limestone soils of the Bluegrass region of central Kentucky.

There are massive old specimens in Cave Hill Cemetery in Louisville KY. They do not receive any exceptional care these days. I suspect that their site was selected in a drainage corridor that water would gravitate to as rainfall ran off, but no more than that. And - given the name - the cemetery is built on limestone karst soils that drain exceedingly well in most places.

I can't find any images of the Cave Hill clan (which will remind me to go get some, since Sweetbay is flowering now) but here are a few images of a big fella at 1234 South 3rd Street in the Old Louisville neighborhood south of downtown, with homes built in the Victorian era 1890s to early 1900s.

Thank you for that information! Some great points you brought up. I don’t have a gutter coming out near where I would like to put it. I do however enjoy taking care of my plants so watering won’t be an issue. The spot does have a sidewalk that is slopes nearby so when rain comes all the water from there and the driveway runs into the area I may put it ! The trees you posted are beautiful ! I have not seen any that big in the Philadelphia area yet !

You live in an area well known for arboreta and botanical collections, so I imagine it will only be a matter of time before you find some grand old specimens. Laurel Hill Cemetery might be a starting point; Fairmount Park; Swarthmore College campus; and many more of the famous gardens.

The original 'Henry Hicks' was located at Swarthmore - that might be a good one to document its current condition.