Just five years after spending $57 million to buy and renovate the Guardian Building in downtown Detroit, Wayne County is placing the towering Art Deco gem back on the market.
County Executive Warren Evans said he’s hoping to fetch $60 million to pay off the building debt and move into a smaller space, possibly in New Center as recommended by a turnaround expert with whom the county has consulted.
Two Albert Kahn-designed buildings in New Center will hit the auction block in July, but it’s unclear whether the county is interested.
The county has struggled with its finances for years and has a structural deficit of approximately $50 million.
Built in 1929, the Guardian Building is one of the most ornate, unique and beloved skyscrapers in Detroit.
For more on the Guardian’s fascinating history, visit HistoricDetroit.
Steve Neavling lives and works in Detroit as an investigative journalist. His stories have uncovered corruption, led to arrests and reforms and prompted FBI investigations.