The SilverDome sold for $583,0000. It cost $55.7 million to construct.
Link:
Silverdome sale price disappoints | detnews.com | The Detroit News
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The SilverDome sold for $583,0000. It cost $55.7 million to construct.
Link:
Silverdome sale price disappoints | detnews.com | The Detroit News
Included in the sale was 127 adjacent acres!
Ouch... Sounds like the upkeep was killing them though.
That's why you're supposed to sell in good markets and buy in bad, not the other way around. :smile:
Just goes to show you how bad things really are up there. I wonder what the RE taxes will be on it? Under private control, they could cut the operational costs by a few hundered thousand, but I'm sure the property taxes will more than eat up any savings.
I've heard you can purchase entire city blocks in Detroit for around $10,000. Not too sure about the neighbors you'd have, though...
Assuming a valuation by the assessor of 55.7 million and using rates a business would pay in Iowa, probably around $2 million per year.Quote:
Originally Posted by usedcarguy
Sounds like they'll get their money back soon enough!Quote:
Originally Posted by cytech