583 Leicester Court, Detroit, MI 48202

This offering comprises a bundled sale of four vacant lots located at 589, 577, 595, and 583 Leicester Court in Detroit, MI. The combined area of the lots totals 14,032 square feet. These lots are not available for individual purchase and must be acquired together. 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 in the area. Interested buyers are advised to consult the DLBA's proposal guidelines for new build opportunities. Additionally, the DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department to gain additional context about the neighborhood. 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 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. Additional DLBA requirements are outlined in the attached documents.