Milwaukee Investment Co. is selling three acres for anundisclosed price,says Dave Berry, attorney for the company. He didsay, however, that the price will be more than the $5.5million thatthe city offered when it tried to condemn the property. Thecondemnation lawsuit was dismissed on appeal."I can't talk aboutprice yet, as per our purchase agreement negotiations,but it willbe public after the sale," Berry notes.

Milwaukee owns four parcels of land, about 120,000-sf, closer toJeffersonStreet than the river.Greektown Casino, MotorCity Casinoand MGM Grand Casino have all opened orare opening temporarycasinos in Downtown Detroit, and plan to spend morethan $2 billionto build three permanent casinos, with restaurants andhotels, onthe riverfront site. The companies gave the city $250 million tobuythe land.

There are some doubts in the Michigan real estate industry overwhether thethree permanent casinos will ever actually be built, atleast on the riverfront site. Thecity is having difficultyacquiring the needed land.