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Investors asking $3.5M for home near new arena

Posted at 5:41 PM, Sep 11, 2015
and last updated 2015-09-11 17:41:41-04

Owners of an abandoned old house sitting near the new Detroit Red Wings arena are asking for more than $3 million to give up the property.

We're told a group of investors owns the home, and are asking for $3.5 million based on where they see the market going, according to real estate agent Catina Willis.

The Detroit News said the investors paid $25,000 for it 13 years ago, and they are just one of the few holdouts who haven't sold their property to the Ilitch organization.