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Two Hamtown buildings could be bargain for right bidder

Two buildings on Jos. Campau in Hamtramck could be just the prime ticket for the right developer, if you read between the lines in this article on an upcoming closed bid in the Hamtramck Review. An excerpt:

The first to go up for bid is a partially developed loft space on Jos. Campau and Goodson, a former veterans post.
          
The city acquired the property for $40,000 after a developer failed to finish the project. The city, however, ran out of time and perhaps money to complete the project. The city will be seeking sealed bids for the property.
          
It could be quite a steal for the lucky bidder. The upper floor has already been converted into two lofts, while the downstairs is open for any configuration or purpose, including turning it into a retail space.
         
The next city-owned building to be put up for bid is the largest in the Jos. Campau business district, at the corner of Belmont. The four-story building came into the city’s possession due to a foreclosure.

A would-be developer had a state grant to tap into to help with rehab costs, but he could not secure a bank loan to finance the project.

The potential for this building is unlimited, and for the right developer a goldmine. Read the rest of the story here.

Sounds good to us. To submit a sealed bid, mail it to:

City of Hamtramck, Office of the City Clerk, 3401 Evaline, Hamtramck, MI 48212

Minimum bid is $145,500 and every bidder must submit a certified check in an amount equaling 10 percent of their bid. Make check out to Treasurer, City of Hamtramck. Bids are due Dec. 18, 3 p.m. That's this Wednesday. 

To see photos of the Goodson building, inside and out, go here.
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