Courtesy of: Leonard A Pickett III | | RCH Brokerage Legacy Inc
Year Build: 9999
Square Footage: 1,600 Sq ft
Address: 5281 ADDISON Street
Neighborhood: Addisons Sub
This vacant structure presents an awesome opportunity. Previously used as a place of worship. The seller is the Detroit Land Bank Authority. All offers must be supported by Proof of Funds for both the Purchase Price, as well as the construction costs. 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. 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.’ BATVAI Please see attached documents for DLBA requirements and offer submission information.