18
See all 18 photos
$25,000
Est. payment /mo
6,969 Sqft Lot
Active
1547 Elm ST Detroit, MI 48216
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Key Details
Property Type Vacant Land
Sub Type ImprovedLand
Listing Status Active
Purchase Type For Sale
Subdivision Mc Keowns Sub
MLS Listing ID 20261034820
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type ImprovedLand
Property Description
North Corktown development opportunity. Located a few minutes from Motor City Casino. This vacant parcel is owned by the Detroit Land Bank Authority (DLBA) through its Marketed Property Program. The property offers an opportunity for new construction and infill development, subject to zoning and City approvals. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing. Buyer agent to confirm details. *Includes 1547 and 1559 Elm.
Location
State MI
County Wayne
Area Area05101Detsouthofgrandriver
Interior
Fireplace No
Exterior
View Y/N No
Garage false
Building
Sewer Public Sewer, Sewer At Street
Water Public, WateratStreet
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition GovernmentOwned, ShortSaleNo
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Listed by Catina Willis of Next Level Realty & Investments
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