5132 W CHICAGO Detroit, MI 48204

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

Listed by Natasha C Richards · License #6502385914 Show Phone

Added: Jun 11, 2024 Updated: May 14 at 1:58AM Checked: Jul 23 at 12:06AM

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MLS# 20240040643

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Investment Insights

Based on property information with market context.

This residential land is located directly across the street from Nardin Park in Detroit, MI. 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, as well as density and walkability. Interested buyers should consult the proposal guidelines for new build opportunities. The DLBA also recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. The lot size is approximately 0.11 acres. Please 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 abatements that are otherwise available to the selected purchaser. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing.

Key Highlights

• Infill development opportunity directly across from Nardin Park.
• Located in the Nardin Park Community.
• Suitable for small- to medium‑scale infill development.

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FAQs

What type of property is this?

Residential land & home lot - Land available for infill project in Detroit's Nardin Park.

Where is this residential land & home lot located?

The property is located at 5132 W CHICAGO 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: Infill development opportunity directly across from Nardin Park.; Located in the Nardin Park Community.; Suitable for small- to medium‑scale infill development.