DETROIT — A private investment group from New York has purchased the Old Wayne County Building in Detroit, with plans to restore the building and return it to productive use. The purchase price is undisclosed.
“Thirty years ago, The Old Wayne County Limited Partnership bought The Old Wayne County Building with the intention of bringing this architecturally significant building back to its original grandeur and saving it from the fate of so many historic properties in downtown Detroit,” says Michael Layne, spokesman for the partnership. “The partnership is pleased to annouce the sale … and looks forward to The Old Wayne County Building gracing downtown’s skyline for generations to come.”
Layne says the investment group will work with architectural firm Quinn Evans to develop plans that will preserve the unique qualities of the building, at 600 Randolph, for a top quality partner that it will identify at a later date.
The purchase of the land on which it sits and a nearby parking lot owned by Wayne County, is expected to yield more than $2 million to the county as well resolve any litigation.
Preliminary approval of the form of the transaction was given by the Wayne County Commission, subject to an agreement with a purchaser of the building and final approval by the commission of the terms and conditions of the ultimate transaction.