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Multi-Scope Due Diligence, Albert Kahn Building - Detroit, MI

Project Location 
Detroit, MI
Sector
Office
Completion Date 
Friday, June 1, 2018
Consulting Value 
$5,100
Project Leads 
Due Diligence, Albert Kahn Building, Detroit MI
Due Diligence, Albert Kahn Building, Detroit MI - Elevators
Due Diligence, Albert Kahn Building, Detroit MI - Underground Tunnel

About the Project

Well-renowned Detroit architect, Albert Kahn, was hired by Charles and Fred Fischer to design the New Center Building in 1930. According to available historical sources, the subject property contained vacant lots, residential dwellings and apartments as far back as 1905 until 1931 when the current Albert Kahn Building was developed.

In June of 2015, the building was sold and purchased by Northern Equities, Lutz Real Estate for $9.5 million.  Prior to the transaction, Partner was engaged by the lender to complete a Phase I Environmental Site Assessment, Property Condition Report and Zoning Report in order to help the borrower secure financing by reviewing their plans and providing feedback on the estimated costs to complete the project.

The 11-story, 2-penthouse property, that has been occupied for commercial office use, is anticipated to be converted into a 202-unit apartment complex.

The New Center (Albert Kahn) Building was added to the National Register of Historic Places in 1980.

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