1588 Elm, Detroit, MI 48216

Property Description

Vacant Lot - New Build Opportunity. Purchaser must submit a development plan that includes scope of development (number of units and total square footage), development cost estimates, proof of funds, and architectural drawings or precedent architecture images. Incomplete proposals will not be considered. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Contact agent for additional details.

Listing Status:

Pending

Listing Office:

Premier Property Services LLC : 313-822-9000

Listing Agent:

James Bufalino : 313-806-1303

MLS ID:

21593502

Location

• Road/Access: Paved
• Originating MLS: MiRealSource
• School District: Detroit City School District
• County: Wayne

Lot

• Zoning: E COCHRANE 385 PLAT OF LOGNON FARM L2 P5 PLATSW C R 8/29 31 X 100

Utilities

• Water: Public Water at Street
• Sewer: Public At Street

Financial

• Source: MiRealSource

This listing courtesy of James Bufalino, Premier Property Services LLC