IRVINE, CALIF./DETROIT – July 16, 2014 – Auction.com, LLC, the nation’s leading online real estate marketplace, in conjunction with Luke Investments, will conduct an online auction of the historic Detroit Club July 29-31.
Located at 712 Cass Ave. in downtown Detroit, the starting bid for the four-story, 37,230 square-foot commercial building is $950,000.
Built in 1892, the historic property has hosted corporate tycoons, European royalty and other “movers and shakers” of their day, including Charles Lindbergh, John D. Rockefeller, Lee Iacocca and Presidents Harry Truman, Herbert Hoover and Franklin Roosevelt.
“The Detroit Club is an iconic downtown landmark that evokes memories from the Motor City’s storied heyday while standing as another positive testament of this great city’s rebirth,” noted Rick Sharga, executive vice president of Auction.com. “That the historic building’s future will be determined through the Auction.com online platform is a clear indicator of how real estate sales are evolving.”
Considered one of the city’s most prestigious properties, The Detroit Club’s brick and stone Romanesque Revival structure was designed by influential architect and House & Garden magazine founder Wilson Eyre.
Centrally located in the heart of the newly revitalized Detroit Central Business District, the building is currently an upscale event space with a 4,000 square-foot kitchen, formal dining room, full bar and restaurant, private offices, hotel rooms and gym. The property is in excellent condition and could be converted into a single-use office building.
It is the latest in a string of high-profile Detroit properties being sold through Auction.com, which also auctioned the Detroit Free Press and St. Regis buildings earlier this year.
The Detroit Club auction is backed by Auction.com’s extensive marketing program and industry leading online platform, which bring together sellers and qualified buyers through a highly transparent process. As a result, both sellers and potential buyers benefit from a timely sale that sets a fair market value for the property.
Bidders must register at www.auction.com and provide a $10,000 deposit. To learn more about the auction, contact Jeff Book at (949) 236-5519 firstname.lastname@example.org.