Earlier this month we informed you that the former headquarters of the American Motors Corporation (AMC) was going to be on the auction block with a starting bid of $500. The property just sold at the county’s tax foreclosure auction for a single $600 bid.
Don’t think the buyer was able to snatch up the 1.4 million square foot facility for a measly $600; they are also responsible for the $160,631 in summer taxes for the property. Even after shelling out all that cash the buyer still got a great deal for an awesome building where a ton of automotive history was made.
The city was happy to get rid of this run down property after it became a dumping ground in the past years. We don’t know what the new owners are planning on doing with the property but restoring it to its former glory would be a welcomed sight.
Source: Detroit News