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Arena holdout house goes back on the market for $5M

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We’ll just sit back and see if this property adjacent to the Little Caesars Arena sells at some point. At least this time, the listing is pretty accurate in what it’s selling — land. The house listed in September 2015 for $3.5 million, then went back on the market in early 2016 for $4 million. We’re getting closer to this arena being open, and now it’s listing for $4,999,999.

The listing states, “This Property is LOCATED IN THE HEART OF DOWNTOWN DETROIT. Could make a great BED AND BREAKFAST, NIGHT CLUB, RESTAURANT, HIGH RISE HOTEL, OR PARKING STRUCTURE.”

OK.

According to the Free Press, who chatted with the listing agent, the jump in price is due to, “the increase in value since the Pistons announced in November that they will join the Red Wings at the new arena later this year and leave the Palace of Auburn Hills.”

The 1880 Victorian was purchased in 2002 for $25,000 and has had the same owners since. Good luck, holdout house.