3545 Cochrane St, Detroit, MI 48208

Property Description

***DEVELOPMENT OPPORTUNITY TO ACQUIRE FIVE (5) CONTIGUOUS RESIDENTIAL INFILL LOTS IN CORE CITY*** These parcels present an outstanding opportunity to build new residential properties, including single-family homes or condominiums, in a neighborhood experiencing ongoing investment and redevelopment. The adjacent lots include 3515, 3521, 3529, 3541, and 3545 Cochrane. Only $60,000 total for all 5 parcels. Conveniently located within 1 mile of Michigan Central Station, Roosevelt Park, and Historic Corktown featuring award-winning restaurants, breweries, and coffee shops. Less than 2 miles of Comerica Park, Ford Field, Little Caesars arena, and major freeways. Whether you're a builder, developer, or future homeowner, this property offers an excellent opportunity to be part of one of Detroit's most active areas of reinvestment. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.