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  • Detroit's Silverdome sells for a paltry $583,000 (less than 1% of value)

    11/19/2009 8:33:41 AM PST · by meandog · 103 replies · 3,929+ views
    The Business Insider ^ | 11/17/09 | Vince Veneziani
    Even though some homes in Detroit literally sell for $1, we're still surprised to see how little an entire stadium fetches. In this case it's the famous Pontiac Silverdome Detroit News: Nearly 25 years after taxpayers spent $55.7 million building the Pontiac Silverdome and a year after a $20 million sale fell through, city officials have sold the arena once called the most desirable property in Oakland County. The price: $583,000. The broker, David J. Leitch, is quite upset about the final selling price. And hey, can you blame him? "The property alone, at $10,000 an acre, should have gone...