2125 PUTNAM Street Detroit, MI 48208

This residential land is sold as a bundle with three other lots located at 5001 Wabash, 5069 Wabash, and 2119 Putnam, totaling 12,223 square feet. The lot is located in Detroit, MI. The four lots are being sold together for $20,000 and will not be sold separately. This presents a great opportunity for infill housing development. The buyer must submit an application to purchase, including construction plans or precedent architectural images of the proposed development, along with a financing plan that includes either proof of funds, a pre-approval letter, or a new construction loan. Note that the Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the five tax years subsequent to transferring ownership of the property. This tax capture may be incompatible with tax abatements that are 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 the effect of any tax abatement on the purchase and development financing. The lot size is 0.03 acres.