Pontiac Silverdome sells for.....

[Hack&Lube]

Originally Posted by Prototype

I'm no economist... I tried that for a while, didn't work... but I think with the price of anything and everything in Detroit, once money comes in, it may be an attractive spot for some people. Now I'm not saying that it will be the new New York or anything, but I doubt it will continue to become the wasteland that it is made out to be now.

People want to buy cheap and sell high. I think that will happen within the next 5-10 for Detroit.

I don't know about that, Detroit along with most of Michigan have been trying to recover since the 70s and still no dice. The area is just dead.

Watch Robocop and realize the Metro Detroit today is probably actually worse than depicted in that dystopian future.

[Prototype]

I retract all of my statements due to Hack & Lube's Robocop defense.

[Winsor_Pilates]

Originally Posted by Prototype

Mark my words. When the markets recover, when Detroit recovers, and it will, the stadium will be sold for $200-$300M... Great purchase.

I agree, but the issue would be carrying costs until that happens. Although the price is low, this guy better have a lot of money to pay the taxes and other costs associated with holding on to a building like that.

[valo403]

Originally Posted by Winsor_Pilates

I agree, but the issue would be carrying costs until that happens. Although the price is low, this guy better have a lot of money to pay the taxes and other costs associated with holding on to a building like that.

That building isn't appreciating in value, not at all. The buyer could cover carrying costs for decades and it wouldn't matter. Old beat up domes that have no tenants and no prospect for tenants don't appreciate.

Unless of course the plan is to bomb Ford Field.