Vacant property sales bring in $4 million for Detroit district

March 4, 2010
School system has sold 11 vacant facilities in the last year
News release: Detroit Public Schools has generated more than $4 million over the last 12 months from the sale of 11 vacant school properties. Additionally, the district has leases on 36 properties that are generating more than $1.4 million annually. Four leases are pending, along with $1.15 million in sales. Offers are on the table and sales are being negotiated on five other properties collectively valued at more than $2.8 million. In the 12 months prior to March 2009, no district property had been sold or leased, and 10 of the 30 then existing tenants were in arrears.

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