No Bona Fide Prospects in City Land Sale

 08/06/2013 - 20:57
Saline Resident and Swisher Commercial Realtor Tony Caprarese updates city council the efforts to sell eight city-owned land parcels.

Early in the process of marketing and selling several Saline properties there are no bona fide prospects or substantive sales leads, Saline resident and Swisher Commercial realtor Tony Caprarese told city council Monday night.

Caprarese summarized what’s transpired since council chose Swisher Commercial develop a price sheet and market eight properties. The properties, which can be found on www.salineland.com, are on the market for a sum just over $3 million.

They include property at 600 North Maple Road, across from the library; on Woodland Drive and Industrial drive, in the Redies and Shelton business parks; and along Michigan Avenue in the Sauk Trail Business Park. But for the North Maple Road property, the parcels are zone I-2, which allows industrial and office.  The North Maple Road, once home to the city’s DPW and police station, is zoned for mixed use development.

“There are no active leads to be reported. The properties have been out there for about 30 to 45 days. We are getting traffic (on the website). But there are no real substantive leads or inquiries from anyone we would consider a bona fide prospect,” Caprarese told council. “This will take some time to identify those opportunities and work with prospects to bring them to some kind of conclusion.”

Caprarese said the resident real estate market is bouncing back nicely.

“But any type of industrial just isn’t happening yet.

After years of cutting services and staff because of falling property values and reductions in state revenue sharing, City Council voted to raise taxes this year. City leaders are anxious to transition the public property to private use to increase the tax base and create jobs.

Tran Longmoore
Tran Longmoore founded The Saline Post on Aug. 15, 2012. Follow him on Twitter at @tranlongmoore. Follow The Saline Post @thesalinepost. Follow The Saline Post on Facebook by clicking here.