One of the most well known mansions in Detroit is up for sale. The Alfred J. Fisher mansion has been placed back on the market, with a $1.5 million asking price. This also includes an enormous estate sale and auction, to include everything in home.
Since being recently placed on the market, the mansion has already had one potential offer, at the full asking price. If and when this building is snatched up, it would result in the highest sale price for a single-family home in Detroit, within the past 10 years. Experts and brokers agree that if this home was placed in the suburbs, and well-maintained, the Fisher mansion could sell for almost four times the current asking amount.
The Fisher mansion has a longstanding history in Detroit. Originally owned by the Fisher brothers, who made their millions with auto body work in Detroit, this mansion has stood in the Palmer Woods area since the 1920’s. Back then, the Palmer Woods area of Detroit was incredibly upscale, and only accessible to those who were wealthiest in the city. The Fisher mansion stands at about 16,000 square feed, which includes an indoor swimming pool, luscious gardens, and 15 bedrooms.
Initially, the Fisher mansion was priced at $1.2 million in April, but was quickly pulled off the market due to foreclosure lawsuit. With these legal issues put to rest, the agent assigned to this dwelling, Matthew Duffield of the Bedford Group, also became the property owner for the Fisher mansion. Duffield stated that the mansion is for sale and open to the public to purchase. With a potential purchase in the works, Duffield encourages people to act quickly.
Realtor’s in Detroit know that the Fisher mansion is a priceless gem. With a $1.5 million asking price, Tom Ball of Real Estate One emphasizes, “We haven’t seen that in the city in a long time.” The owners of the mansion for the past 35 years, George & Christine Michaels originally bought the home for $129,000 and have completely renovated the mansion. The plan to collect payment on the remaining items in the mansion with a auction that began late last week. Items for sale in the auction range anywhere from antique clocks to luxurious furniture.
With sofas, tables, and the other habitable items combined, the worth of the possession in the Fisher building are just as valuable as the building itself. Real estate investors and estate sale professionals both agree, that this rare opportunity in Detroit doesn’t come around often. As one of the most notable buildings in Detroit, the Fisher mansion has the potentially to turn the city back around, into the thriving and economically savvy city, it once was.