A potentially lucrative 414-acre site of the former Northville Psychiatric Hospital in Northville Township outside Detroit has been put up for auction by Sperry Van Ness Accelerated Auction Division on behalf of the State of Michigan Department of Management and Budget. Bids are due by 5:00 p.m. on Aug. 29 with a $4 million deposit. The top five bidders will be eligible for the open outcry auction the following day.
“It’s located in a very affluent neighborhood,” said Louis Fisher, national auctioneer for Sperry Van Ness/Accelerated Auction Division. “For instance, just two weeks ago (national developer) Pulte announced a new subdivision housing development division close in proximity to this one. People lined up two days in advance to have the opportunity to be in a lottery to purchase houses ranging from $400,000 to $600,000. And the area is one of the last remaining major multi-developmental areas left in the area.”
Fisher said he expects a busy bidding process. Prospects are required to purchase the due dilgence package that Sperry Van Ness has assembled for the district and take a look at the property.

Posted: 08|25|05 at 10:20 am. Filed under: US News.