Quote:
Originally Posted by lio45
Ideal real estate acquisition for anyone who wants to make an addition to this forum's database 
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212 Milam St - Entire City Block in Downtown Houston
1.45 Acres of Commercial Land in Houston, TX
JLL is pleased to offer Block 18 - 212 Milam, which is considered the best remaining development site in Houston’s CBD. Consisting of a full city block, the Property is located in an Opportunity Zone at the north end of Houston’s Central Business District with unobstructed views across north, west, and east Houston. The property is a premier CBD development opportunity with excellent ingress/egress. Its irreplaceable location will allow the future development on the site to be highly visible & a prominent addition to the downtown skyline.
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Wonder how much it would sell for. Things in Houston seem to be offered at ~2x the City's assessed value (in San Antonio, I've observed it's more like +40%-50%), so, ~$10M.
However, this lot is fairly unique, so maybe the owners are asking for something less attainable. Unique properties are often arbitrarily priced. |
Well, Trammel Crow (a Dallas based firm) recently bought 2 blocks, equivalent to just over 2 acres total, in Chicago's Fulton Market District for $77 million.
https://chicago.urbanize.city/post/trammell-crow-buys-land-1112-w-carroll-and-315-n-may
If somebody wants it enough I could see that land going for 4x or 5x the assessed value.
I wonder what kind of considerations around the Donnellan Family Crypt have to be made for the foundation.
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