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5140 W CHICAGO Detroit, MI 48204
4,791 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20240073361
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 40.00 x 120.00
Source Realcomp
Property Description
Welcome to the latest offering from the Detroit Land Bank Authority. 4 buildable lots located in the Nardin Park community. Over 19,000 sqft. of space ready for your designs and your ideas. Sale includes 5150, 5156, 5164 W. Chicago. Sidewalks require repair and may become the responsibility of potential purchaser. The 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 our 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. 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 and/or lot combinations 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 abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Residential
Direction Livernois South to grand river go east to w. Chicago, go north
Exterior
View Y/N No
Schools
School District Detroit
Others
Tax ID W16I004855S
Acceptable Financing Cash
Listing Terms Cash
Listed by Real Estate One-Southfield