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A good chunk of downtown Detroit's real estate has changed hands in the last two years, but there are still opportunities for aspiring Dan Gilberts. Instead of Campus Martius, however, the cheaper properties are now slightly off the beaten path. If, like us, you're just trying to predict the next big development project, here are seven of downtown's biggest, most important buildings on the market right now.
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The BEI Building has 40,000 square feet of office space, but only a third of it is actually in use. Is a residential conversion in order? The large windows and historic architecture (built in 1910) could make for some neat apartments. [ASK: $1,200,000]
Tidy and attractive, this little building has gone through three different facades since it was built in 1926. Just across from the Skillman branch of the Detroit Public Library, the building has 19,800 square feet of office space and retail. [ASK: $1,950,000]
Home to the famous theater/parking garage conversion, the Michigan Building is a downtown landmark. It's definitely a fixer-upper, but nothing too drastic (at least by Detroit standards). For a parking garage and 245,000 square feet, the price tag is a steal. [ASK: $3,000,000]
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This building is owned by Wayne County and it's completely vacant, so it's a safe assumption that the maintenance hasn't been great. Built in 1939, the building has 81,000 square feet. [ASK: $3,000,000]
Built in 1888, the Globe Building would be a prize for any downtown property baron. Inside, you'll find 58,000 square feet of loft syle office space and a gigantic atrium zone. [ASK: $4,000,000]
The Marquette Building's spot next to Cobo Center makes it all the more valuable. Built in 1899, the Marquette narrowly escaped demolition in the 1970s. The 164,00 square feet is currently used as office space, though the listing describes it as "an ideal residential conversion." [ASK: $6,500,000]
The base of the Guardian Building is home to an unattractive glass pedestal—a product of the 1970s. Naturally, Wayne County owns it, and they've been trying sell for quite some time. But instead of naming an asking price, the county is simply "soliciting offers." If Dan Gilbert hasn't bought it yet, it's probably a bad deal. [ASK: Unknown]
The BEI Building has 40,000 square feet of office space, but only a third of it is actually in use. Is a residential conversion in order? The large windows and historic architecture (built in 1910) could make for some neat apartments. [ASK: $1,200,000]
Tidy and attractive, this little building has gone through three different facades since it was built in 1926. Just across from the Skillman branch of the Detroit Public Library, the building has 19,800 square feet of office space and retail. [ASK: $1,950,000]
Home to the famous theater/parking garage conversion, the Michigan Building is a downtown landmark. It's definitely a fixer-upper, but nothing too drastic (at least by Detroit standards). For a parking garage and 245,000 square feet, the price tag is a steal. [ASK: $3,000,000]
This building is owned by Wayne County and it's completely vacant, so it's a safe assumption that the maintenance hasn't been great. Built in 1939, the building has 81,000 square feet. [ASK: $3,000,000]
Built in 1888, the Globe Building would be a prize for any downtown property baron. Inside, you'll find 58,000 square feet of loft syle office space and a gigantic atrium zone. [ASK: $4,000,000]
The Marquette Building's spot next to Cobo Center makes it all the more valuable. Built in 1899, the Marquette narrowly escaped demolition in the 1970s. The 164,00 square feet is currently used as office space, though the listing describes it as "an ideal residential conversion." [ASK: $6,500,000]
The base of the Guardian Building is home to an unattractive glass pedestal—a product of the 1970s. Naturally, Wayne County owns it, and they've been trying sell for quite some time. But instead of naming an asking price, the county is simply "soliciting offers." If Dan Gilbert hasn't bought it yet, it's probably a bad deal. [ASK: Unknown]
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