595 Leicester Court, Detroit, MI 48202

This offering includes a bundled package of four vacant lots located at 577, 583, 589, and 595 Leicester Court in Detroit, MI. These lots are not available for individual purchase and are offered together, totaling 14,032 square feet, or approximately 0.08 acres. The Detroit Land Bank Authority (DLBA) is seeking proposals for small- to medium-scale infill development aimed at increasing housing supply and restoring the urban fabric, density, and walkability of the area. 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. Prospective purchasers should note that the Detroit Land Bank Authority is entitled to a tax capture for the five tax years following the property ownership transfer. This tax capture may not be compatible with other tax abatements available to the selected purchaser. The DLBA will consider requests to waive its tax capture rights, potentially requiring a payment in lieu of taxes for approval. The payment amount will be determined after reviewing the development proforma and the impact of any tax abatement on the purchase and development financing. Additional DLBA requirements are detailed in the attached documents.