Lot near Detroit train station for sale, listed at $2M

Randy Essex | Detroit Free Press

That was fast.

Everyone knew that Ford's purchase of the Michigan Central Station on the western edge of Corktown would dramatically boost property values in the area, the question being how much and how soon.

Just a day after the sale to Ford from the Moroun family was announced, Dominick Procopio with Re/Max listed an 8,712-square-foot vacant lot across the street from the train station for sale for $2 million. The owner outbid the Morouns for the property, Procopio said.

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"Rare Opportunity — Attention Investors/Developers this is the closest parcel to the Central Train Depot in Corktown," the listing reads. "Be a part of Detroit & Michigan Avenue Development with 8,500-plus square feet on a commercial corner lot ... 108 ft of frontage from the corner of Dalzelle and 15th street. 15th street frontage of 80 ft the Northern Boundary of Dalzelle is 107 Ft. Ingress and Egress on three sides of the Parcel which includes 20 Ft of public alleyway on the Eastern Boundary. Serious inquiries only!!"

Cobblestone Detroit LLC of New Jersey owns the lot at 2100 15th St. The property was surrounded by property owned by the Moroun family in March, when the Free Press examined land ownership near the depot.

Procopio said Cobblestone, which owns "under 10" properties around Detroit, bought the 15th Street lot in July 2017. Wayne County records show the sellers as Thomas Khalil, Michael Fried and Ronald Weitzman, but the sale amount is not shown.

Cobblestone, which has been active in New York and New Jersey, "recently got engaged in Detroit," Procopio said, including purchasing some parcels through tax foreclosure sales.

Cobblestone, he said, "has excellent expert advice" and good metrics in guiding its purchases.

He said that both the Morouns and Ford contacted Cobblestone after it bought the lot across from the train station, but the LLC refused to sell its new acquisition.

"We're excited about the development down there," Procopio said of Corktown. "We'll see various options in the scheme of things" about how the parcel might be developed.

While the Morouns also have sold Ford a large former Detroit Schools book depository nearby, and it's known that Ford hopes to acquire more property in the area, it's unclear right now whether the depot deal included other Moroun land.

Procopio expects that it did and the Moroun land surrounding the Cobblestone parcel might become an outdoor workspace that appeals to millennial tech workers as part of the advanced automotive tech campus Ford plans in Corktown.

He said he represents several national and international concerns looking at potential investment property in Detroit.

"The city's hot," Procopio said.

Contact Randy Essex: ressex@freepress.com. Follow him on Twitter @randyessex