The Packard plant property in Detroit remains at auction as financial backing for a proposed buyer has fallen through, a county official said late Monday.

Dave Szymanski, Wayne County chief deputy treasurer, said Friday that the plan was for Chicago investor Bill Hults to have $974,000 in back taxes and fees owed to the county on the property ready by Friday last week or today. The money was to be put into an escrow account as the process to redeem the property was finalized before transferring ownership to Hults.

Hults communicated to the treasurer’s office today that he had a major investor withdraw last week. “He indicates he has been working with a back-up group of investors who are seeking to verify that they have the funds necessary to proceed. As of this time, we have no verification of funds and the property continues to be available through the auction,” Szymanski said today by email.

Szymanski did not know if the source of the funds had been a Peruvian developer named Fernando Palazuelo but said he does know that Hults and Palazuelo have spoken.

Szymanski had little specific background information on Hults but has previously said he believes Hults is serious and able to come up with the money.

A call today to Hults went straight to voicemail, and the call was not immediately returned.

Media reports have described him as a developer. His LinkedIn profile says he is based in Evanston, Ill., and the founder and managing member of Durkin Joyce LLC, a company described as being involved in revitalization of blighted neighborhoods and building of LEED-certified multifamily residences.

The description also says the company will begin manufacturing wastewater treatment technology in Detroit.

It also says the company has an agreement to bring a precast modular multifamily housing building system to the U.S. but says nothing more specific — nor anything about the Packard property.

In the meantime, the property remains at auction — 42 parcels bundled as one purchase item — at a starting bid for the amount owed. If Hults does not come through and if the property does not sell at auction, it will then go to the October county auction at a starting bid of $500 per parcel, which comes to $21,000 for the 42 bundled unit.

That auction begins Oct. 8. Closings for the current auction begin Sept. 23. The auction takes place at wayne.realforeclose.com.

The county treasurer’s office foreclosed on the Packard site in March. The former owner was Bioresource Inc., a Warren-based entity belonging to Dominic Cristini.