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Michigan's new lieutenant governor appears to have lost his interest in becoming a landlord.
Media outlets report Garlin Gilchrist is selling a once-blighted Detroit property he bought from the Land Bank after sinking more than $226,000 into it. The North End multi-unit building became an issue during Gilchrist's run for office alongside Governor Gretchen Whitmer last fall, after Deadline Detroit reported he hadn't been paying taxes or keeping up the property.
Gilchrist bought the building from the Land Bank for about $13,000 in 2016. He received a discount because he was a city employee at the time.
The Detroit News and Associated Press report he's now selling the building to a real estate company for $190,000.
However, the Land Bank still needs to OK the deal:
Land Bank spokeswoman Alyssa Strickland told the News that Gilchrist asked for land bank approval to sell the property.
"Right now, we are working with both parties to close the deal," she said. "We expect the sale to close soon."
The new buyer, she noted, must agree to take on the terms of the original purchase agreement, which includes rehabbing and occupying the property.
Gilchrist won’t owe anything to the agency because he’s selling the property at a loss, she said.
