Yet another landmark building in the Financial District looks likely to find a new owner. The historic Bankers Trust Company building, a 1927 masterpiece of engraved terra cotta, will go up for auction on March 2. Those hoping for a bargain basement steal, look elsewhere: Bidding opens at a wallet-melting $1.2M.
One of the strangest things about the Bankers Trust is that it's actually a combination of two wildly different looking buildings. There's the Italian Romenesque corner building designed by Smith, Hinchman & Grylls. Next door, a featureless block was built in 1960 to expand the original footprint. Together, they add up to 26,000 square feet. More on the building's history can be found at HistoricDetroit.org.
A similar juxtaposition can be found inside the building, which reportedly 90% leased out. Some of the building is old office space, but a good chunk of the structure (basement included) has played host to a seemingly endless string of nightclubs with names like Confidential, Opyum Den, and Pussycat Lounge. The lucky auction winner inherits Two Eleven Ultra Lounge as a tenant.
· Listing: 211 West Congress [Auction.com]