3561 LOVETT Street Detroit, MI 48210

Listing agency Bellabay Realty Tri Counties n***@comcast.net Show Phone

Listed by Natasha C Richards · License #6502385914 Show Phone

Added: Apr 7, 2025 Updated: May 13 at 3:30AM Checked: Jul 23 at 4:06AM

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MLS# 20250023714

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Investment Insights

Based on property information with market context.

Eight lots totaling over 35,000 square feet are available, presenting a development opportunity near Corktown and downtown Detroit. The Detroit Land Bank Authority (DLBA) seeks proposals for small- to medium-scale infill development aimed at increasing housing supply, restoring the urban fabric, and enhancing 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 neighborhood context. The DLBA is entitled to a tax capture for the five tax years following the property ownership transfer. This tax capture may not be compatible with tax abatements or lot combinations otherwise available to the 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 amount will be determined after reviewing the development proforma and the effect of any tax abatements on the purchase and development financing. Refer to the DLBA proposal guidelines for further details.

Key Highlights

• Prime location close to Corktown and downtown Detroit.
• Large land area: Over 35,000 square feet across 8 lots.
• Opportunity for small- to medium‑scale infill development.

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FAQs

What type of property is this?

Residential land & home lot - Eight residential lots near Corktown and downtown Detroit.

Where is this residential land & home lot located?

The property is located at 3561 LOVETT Street Detroit, MI.

What is the asking price?

The asking price for this property is $120,000.

What are key features of this property?

This property features: Prime location close to Corktown and downtown Detroit.; Large land area: Over 35,000 square feet across 8 lots.; Opportunity for small- to medium‑scale infill development.