This morning we reported that this Hamtramck loft was for rent. Since that post the realtor has emailed to say that the building owner has decided to go condo and sell all four lofts in the Vet Park Lofts. One has an active listing now and the other three are coming soon. Here's the deal: a 1,500 square foot two-bedroom is asking $169,900. The condo features a two-car garage, basement, hardwood floors, spiral staircase and pet-friendly courtyard. The association fee has yet to be determined and property taxes have not been assessed yet.
According the realtor, the original developer spent many hundreds of thousands of dollars on the Vet Park Lofts back in 2005-2006. When the financial crisis hit work stopped with two of the four units finished. The bank loan went into default but, oddly, the bank did not foreclose on the property. Instead the unpaid taxes piled up and it became a tax foreclosure instead of a bank foreclosure. It ended up being owned by the City of Hamtramck, who sold it to the current owner recently.
· 8820 Jos Campau Unit 102 [Estately]
· $1250 / 2br - 1500ft² - Amazing Hamtramck Bi-Level (Hamtramck) [Craiglslist]