Three historic storefronts in downtown Ypsilanti hoping to get a new lease on life Saturday are still waiting.
The highest bid for the three storefronts, 211-215 W. Michigan Ave., was below the minimum reserve bid for Saturday's auction and far below the $575,000 asking price. The bidder and the seller are currently trying to broker a deal for the property.
The three downtown storefronts are mostly vacant and in need of some significant restoration. However, the right entrepreneur could resurrect them as part of the revival that downtown Ypsilanti has experienced in recent years.
The buildings, built in the 1800s, contain 22,000 square feet of both ground-floor retail and second and third-floor residential space. They are eligible for historic and energy tax credits.
The owner of the storefronts decided to auction the properties through Ann Arbor-based Sperry Van Ness/Lillie & Associates to ensure a quick sale. For information, call (734) 663.6694 or visit www.garylillie.com.
Source: Gary Lillie, managing director of Sperry Van Ness/Lillie & Associates
Writer: Jon Zemke