The Albert Kahn-designed Olde Building has some news: According to Albert Ellis of Colliers International (the real estate firm handling the Olde's marketing), the Olde building should be under contract by next week, meaning an anonymous someone has eyes on buying the place. Ellis also pointed out that the listing we referenced yesterday is outdated, most importantly in the area of asking price. The current ask is not the $1.5M previously reported, but a more palatable $1,075,000. That's a major pricechop, and just the beginning of the intriguing new deets on the lovely Olde building. Commenters pointed out two things yesterday: This building was not ever a multi-level Hardee's (thank goodness), but it did play the role part of an unemployment office in Renaissance Man, a 1994 flick starring Danny Devito.
Vacant since 1997, the Olde building will need an all-out renovation (including new building systems) before anyone can move in. A major highlight is the beautiful ground floor ceiling, which is somehow still intact after 16 years of neglect. The Olde's fifth floor is described as a "half floor," as it has lower ceilings and is used primarily to house mechanicals and for roof access. Accessed via the original marble staircase, the full basement actually extends out underneath the sidewalk on the Lafayette side of the building. The building's original bank vaults are still intact. According to Ellis, the building is best suited for use as an office with ground floor retail, or perhaps a fine dining restaurant with a wine cellar below. We're looking forward to seeing this corner gleaming and bustling once more.
· Near Campus Martius, Olde Building Deserves a Fresh Remod [Curbed Detroit]
· 715 Griswold St [Colliers International]