Historic Apartment Building Listed for $2.2M Near Michigan Central Station in Detroit’s Corktown District

Posted on August 23, 2018

Friedman Urban in Detroit today announced the listing for $2.2 million of 2072 Wabash, a renovated 16-unit apartment building located just east of Michigan Central Station. In June, Ford Motor Co. announced plans to create an autonomous and electric vehicle research campus at the former train station and several neighboring properties in Corktown.

Located at 2072 Wabash Street, the 18,000 square-foot apartment building offers 12 one-bedroom, one bathroom units (current market rent of $1,050 per month) and 4 studio, one bathroom units (current market rent of $750 per month). The brick and stone structure, built in 1927, consists of two above ground floors and one garden level floor.

On the north side of the building is a surface parking lot, and on the south side of the building is a single-family home under construction. The apartments offer original hardwood floors, steam heat radiators, new kitchens, ceiling fans, bathtub with shower, mosaic tile bathroom flooring, and storage closets.

Upgraded common areas include custom wainscoting, a redesigned foyer, new sconces and chandeliers, new paint and carpeting, security cameras, on-site laundry, and digital building entry along with a buzzer system.

Ford says the renovation of Michigan Central Station will cost $740 million and include new stores, restaurants, a coffee shop, and other amenities on the grand first floor lobby, 313,000 square feet of office space, and some 40 apartments on the upper floors of the 1913 structure. Nearby, it plans to renovate the Roosevelt Warehouse into offices and ground floor commercial space.

In turn, the automaker recently acquired The Factory at Michigan Avenue and Rosa Parks Boulevard (12th Street), now occupied by 220 workers in its Project Edison vehicle electrification team and related mobility services. Overall, Ford and several partner companies plan to have 5,000 workers in Corktown. The train depot is slated to open in 2022.

Other new projects in the area include the recent opening of the Detroit PAL headquarters and ballpark on the site of the former Tiger Stadium at Michigan and Trumbull. Next door, Larson Realty Group is building The Corner, a $33-million development offering 102 apartments, 34 condominiums, and 30,000 square feet of retail space.

To the east, Soave Enterprises in Detroit is renovating the former Checker Cab building along Trumbull and constructing neighboring mixed-use offerings. The $44 million project on five neighboring blocks includes 151 apartments, 13,000 square feet of retail space, and green spaces, including the upcoming Checker Alley.

For more information about 2072 Wabash, contact James Tumey, vice president of Friedman Urban, at james.tumey@freg.com.