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For Sale: Detroit's Famous Michigan Theatre Parking Garage

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For a casual $3M, you can buy one of Detroit's ruin porn all-stars (and its adjoining office building). The Michigan Theatre was Detroit's most grandiose when it debuted 1926, but slowly declined and fell into disrepair, closing for good in the 1970s. As this is Detroit, the theatre was immediately seen as an excellent location on which to install a new surface lot. Fortunately, engineers nixed the plan, claiming that the theatre's destruction would compromise the structural integrity of the Michigan Building, the office tower that partially surrounds it. The rest is history. As the two buildings are inextricably bound, the garage comes with the purchase of the Michigan Building, hence the $3M price tag. With a beautiful limestone facade and cozy storefronts below, the Michigan Building would be an incredible redevelopment project. If DTE's plan for Western Downtown gains momentum, this is a property worth keeping an eye on.
· History of the Michigan Theatre (Historic Detroit)
· Listing: Michigan Building [LoopNet]