Auction.com Selling Historic Detroit Club
DETROIT—Downtown Detroit has begun attracting a lot of interest from employers, developers and investors, and Auction.com has decided to test this reviving market by conducting, in conjunction with Luke Investments, an online auction of the historic Detroit Club beginning July 29. The starting bid for the four-story, 37,230-square-foot commercial building is $950,000.
The sale is just the latest high profile Detroit property sold by Auction.com, which also auctioned off the Detroit Free Press and St. Regis buildings earlier this year.
Built in 1892 and located at 712 Cass Ave., the Detroit Club has hosted corporate tycoons, European royalty and other “movers and shakers” of their day, including Charles Lindbergh, John D. Rockefeller, Lee Iacocca and Presidents Harry Truman, Herbert Hoover and Franklin Roosevelt.
“The Detroit Club is an iconic downtown landmark that evokes memories from the Motor City’s storied heyday while standing as another positive testament of this great city’s rebirth,” says Rick Sharga, executive vice president of Auction.com. “That the historic building’s future will be determined through the Auction.com online platform is a clear indicator of how real estate sales are evolving.”
The Detroit Club’s brick and stone Romanesque Revival structure was designed by the architect and House & Garden magazine founder Wilson Eyre. The building is currently an upscale event space with a 4,000-square-foot kitchen, formal dining room, full bar and restaurant, private offices, hotel rooms and gym. The property is in excellent condition and could be converted into a single-use office building.
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