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(UPDATED) Free Press Building Auctioned Off for $4.15 Million Doesn't Sell as Bids Fail to Meet Reserve

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Bidding came to a close on the Free Press Building this afternoon, with the winning bid coming in at $4.15M. The buyer's identity is unknown at this point. The Free Press Building was originally set to be restored by its previous owners, Florida-based Luke Investments. When those plans failed to materialize, the building was put up for bid on Want to see what the buyer won? We took a tour of the building less than two weeks ago.

UPDATE: Despite all indications to the contrary, it appears as though the Free Press Building did not actually sell. According to the Detroit Free Press, bidding failed to reach the seller's reserve price, though the broker expects to reach a deal soon. As far as we know, that reserve price has not been publicly disclosed. We'll keep you updated.

· Bids on old Free Press building fall short of reserve price, but broker expects a deal within days [Freep]
· Kahn's Free Press Building to be Auctioned Off November 5th [Curbed Detroit]
· History of the Free Press Building [Historic Detroit]

Free Press Building

321 West Lafayette, Detroit, MI 48226