Breaking News Bar
updated: 9/27/2013 7:16 AM

Detroit's Packard plant could be sold for $21,000

hello
Success - Article sent! close
 
Associated Press

A former car plant that's a symbol of Detroit's industrial decline could be sold for as little as $21,000 after failing to get bids in an initial public auction.

The Detroit News and Detroit Free Press report the property is to be listed as a package of 42 parcels during the second round of the Wayne County treasurer's tax foreclosure auction, which starts Oct. 8.

The online auction runs until Oct. 25. Bidding started at $1 million for the first round of the auction, which ended Thursday.

The property went to auction after Evanston, Ill.-based developer Bill Hults earlier missed a deadline to come up money to acquire the property. He's leading a group that wants to convert the Packard plant into a commercial, housing and entertainment complex.

Share

Interested in reusing this article?

Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.

The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.

Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Name * Company Telephone * E-mail *

Message (optional)

Success - Reprint request sent Click to close
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here