Found this one today, well at least part of it!
I arrived nearest I could to the site and looked around for the tank. Well, the tank has been dismantled, as I suspected, having been a longtime resident and never noticing it. I didn't have my GPSr so it was hard to find the relative site with just the Sun's position in the sky, and some directions. NOTE: Ware road used to run right under that parking garage, so that confused me, as the new cut of it goes 3 different directions.
Not to be discouraged, I asked a local man if he knew where the tank used to be. He happily showed me the approximate location and I instantly knew I was in the right place as there were water valve manholes everywhere, and a big flat area behind a brown wooden shingled house.
I was able to locate the main point, so I logged found. I found Ref. 1 first actually, and then the main point. It's semi private as it is right behind Immaculate Conception, so I'd avoid this on weekdays.
However this is a fun one!! The main mark which I found second, was right out in the open, while ref 1 is in some vegetation. Ref. 2, I was not able to locate and believe to have been destroyed. My reasons for this is that the note specifies 12 paces west of [York] Road's center line. A the point nearest where the tank used to be, along York Road (111) there is no 2 story house, only an auto repair place. Also, 12 paces west of the center would now be either under the expanded York road, or under the sidewalk. EDIT: Reading JV5452 (TOWSON TANK) gave me some insight as to where the azimuth point is (Ref 2), 1.2 mi away. Check the page out.
I intend to go back to the third point with some more quarters on a Saturday, when I won't get weird looks from students. I also intend to get some better pictures, as the points are in fantastic shape.
One more thing: I think this is the highest place in Towson, making it an idea place for a benchmark as well as a water tower--or vice versa. I'll check my topo maps later.