Former American Motors Complex In Detroit Sells For Paltry $600
DETROIT (WWJ/AP) - A building once home to the American Motors Corporation headquarters in Detroit has sold for a mere $600 in Wayne County's tax foreclosure auction.
The winning bidder -- who purchased the 1.4 million-square-foot facility Tuesday afternoon -- will also have to pay its summer tax bill of about $160,630.
The complex was among 25,500 properties up for sale in the second round of the Wayne County tax foreclosure auction that began Oct. 6 and runs until Thursday. Bidding on the former headquarters started at $500.
In addition to American Motors, the facility also has housed refrigerator manufacturer Kelvinator since its opening in 1927.
More than $1 million in taxes was owed when the property foreclosed.
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