2447 Mt Elliott
Detroit, MI 48207
$500,000
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GREAT PROPERTY FOR INFILL BUILDING LOCATED IN ELMWOOD PARK. VACANT LOT (3650 E VERNOR)IS INCLUDED IN DEAL. THIS PROPERTY IN WALKING DISTANCE FROM DETROIT'S EASTERN MARKET AND MINUTES AWAY FROM DOWNTOWN DETROIT.BUYER MUST SUBMIT AN APP TO PURCHASE,INCLUDING CONSTRUCTION PLANS OR PRECEDENT ARCHITECTURAL IMAGES OF PROPOSED DEVELOPMENT & FINANCING PLAN W/ POF OR PRE-APP LETTER ON A NEW CONSTRUCTION LOAN.PLEASE NOTE THAT THE DLBA 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 & MAY REQUIRE A PAYMENT IN LIEU OF TAXES TO APPROVE SUCH REQUESTS.THE PAYMENT WILL BE DETERMINED UPON REVIEWING THE DEVELOPMENT PROFORMA & EFFECT OF ANY TAX ABATEMENT ON THE PURCHASE AND DEVELOPMENT FINANCING.

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Property Details
Status: Active
Listing Date 07/08/2020
County: Wayne
Acreage: 0.83
Lot Dimensions: 126.00X290.00
Subdivision: Elmwood Park Urban Renewal Plat No 3 (also P63-70)
School District: Detroit
Lot Size: 0.83
Zoning: Residential
Water: Municipal Water
 
Listing Office: Rch Brokerage Legacy Inc
Office Address: 21411 Civic Center Dr Ste 2200
Listing Number: 2200052792
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