5122 Wabash St Detroit, MI 48208

This offering includes a bundle of seven vacant residential lots located in Detroit, MI. The lots, situated at 5108, 5118, 5130, 5142 Wabash, and 2040, 2038 Putnam, are not sold separately and total 20,984 square feet. The Detroit Land Bank Authority (DLBA) is seeking proposals for small- to medium-scale infill development aimed at increasing housing supply, restoring the urban fabric, and enhancing density and walkability. Interested buyers are encouraged to 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. 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 abatement 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 abatement on the purchase and development financing.