5110 CHENE Street Detroit, MI 48211 2724

Small commercial building on a fairly decent sized lot. 5114 Chene is owned by city of Detroit and abuts property to the north. There is a possibility that the city will sell that parcel once someone takes ownership of this parcel. Plenty of potential for the right business owner. Bring your offers today. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.