12800 W CHICAGO Street Detroit, MI 48228

Listing agent Erick Monzo Show Phone

Listing office Keller Williams Realty-Great Lakes j***@kw.com 28220 Harper, St. Clair Shores, MI Show Phone

Listing date Jun 16, 2023

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MLS# 20230046845 Listing URL

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Investment Insights

Based on property information with market context.

This vacant commercial lot is located on high-traffic W Chicago Street in Detroit, MI, and is available for sale. The Detroit Land Bank Authority (DLBA) is seeking proposals for small- to medium-scale infill development, with the goal of increasing housing supply and restoring the urban fabric, density, and walkability. Interested buyers should consult the DLBA's proposal guidelines for new build opportunities and review relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. The DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property, which may be incompatible with tax abatements otherwise available to the selected purchaser. The 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 abatement on the purchase and development financing.

Key Highlights

• High‑traffic location on W Chicago Street ideal for business ventures.
• Opportunity for small- to medium‑scale infill development.
• Aligned with DLBA's goal of increasing housing supply and restoring urban fabric.

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FAQs

What type of property is this?

Commercial land - Vacant commercial lot ready for development in Detroit, MI.

Where is this commercial land located?

The property is located at 12800 W CHICAGO Street Detroit, MI.

What is the asking price?

The asking price for this property is Off market.

What are key features of this property?

This property features: High‑traffic location on W Chicago Street ideal for business ventures.; Opportunity for small- to medium‑scale infill development.; Aligned with DLBA's goal of increasing housing supply and restoring urban fabric.