Red Wings Arena Holdout House Demands $3.5 Million

We're told location is everything. And this listing's copy tells you right up front that location is 100% of the draw for this 3-bedroom, 2-bath that just eclipsed the Inn at Winder for most expensive home listed in Detroit. The 1880 Victorian, pictured above before the Park Avenue's implosion, which shows just how close to the blue line this place is, is in rough shape, not that it matters. While the realtor tells us that the place is "Located just a few steps from the NEW HOME OF THE DETROIT RED WINGS HOCKEY ARENA" (caps hers), there's no info on the house itself because the wrecking ball won't really care about how ugly the kitchen is.

Is $3.5 million a fair price, even for billionaire Wings owner Mike Ilitch, the only person in Detroit who actually needs to read this listing with a budget in mind? According to the Detroit News, the owners are holdouts, and were once offered $350K for the fire damaged property. The News also says that a larger building a block from the Cass Ave home went for $20 million. However much Olympia ends up paying for this holdout house, the owners stand to cash in pretty spectacularly—the house cost just $25K when they bought it in 2002.

·Arena holdout asks $3.5 million for fire-damaged home [Detroit News]
·Exclusive Look at the Hotel Park Avenue's Implosion [Curbed Detroit]
·Ilitch Responds to John Oliver's Criticism of New Stadium [Curbed Detroit]
·2712 Cass [Zillow]