These available, commercial properties are all within about 1/4 mile from my apartment and former studio. It doesn't include residential properties. Most Michigan towns resemble what's happening in my own. My fear is that may spread across the country. My biggest fear is that the commercial market will meltdown like residential mortgages. It's a disaster waiting to happen . . .
I love twofers. This building in the background was completely redone several years ago at a huge expense when real estate was humming. It's a B & B on the river. The top half rents for 3,000 a week, and the bottom 2,000. Yes, that's dollars. It wasn't rented very much last year and only a few times this winter. The owners also own and operate the largest art gallery in southwest Michigan. It's fate is tenuous.
The property in the foreground is owned by my landlords.
This was my landlord's antique store. It used to do tons of business. I'm using the front windows to display my paintings and to over-winter my plants. Too bad the economy isn't blossoming as well as my red geranium. No one has called to rent it. Or buy it.
This business just went under. It was a micro-winery and I can see it from my apartment window. I knew it was doomed as soon as it opened. Tourist towns by water have an "aura" that can blind people to reality. They should have talked to every business in town before paying the high rent and then having to close. I especially like the locked gate. Landlords want it both ways. Good luck with that paradigm . . .
Another twofer! The vacant lot in the foreground was once a fancy design shop. It burnt to the ground about a year ago (don't ask) and is a prime location smack dab in the middle of town. It's about 20 steps from the previous property and owned by the same landlords.
The property in the background is an older home remodeled into an art gallery on the main floor and living space above. It's been for sale for a couple years now.
Just across the street from the previous property is this, perhaps the choicest in the downtown district. It was once a lovely restaurant decorated in an authentic English style. They had the best pan-fried perch with a tarragon sauce I've never tasted anywhere. It was smoke-free. And if your table talked too loudly, it would kindly be asked to "keep it down."
The manager couldn't keep up with the continually rising rents and finally called it quits. It's been vacant for several years. Greed hurts a lot of innocent people. And towns.
Go one block down and turn right and you'll find this unfinished gem. The green brick on the bottom is what's left of the original little building. This is a perfect example of what real estate agents have suggested: retail with living space. Let your "tenants" pay your mortgage.
This building was quite controversial and involved state funding with all kinds of rules. It houses four large retail spaces. Only one has been rented. Only two of the several condos have been purchased. Two more buildings just like it are sheduled to be built next to it (my town has a population of less than 2,000 people!). I doubt they get built. Ironically, rents aren't falling. In fact, they're getting more expensive! I kid you not.
One block up from the previous property is this one. It's been "available" for several years. Behind it is the bowling alley. My town has been "gentrified" and that includes the lowly bowling alley. It wanted this particular property for parking. Abood paid way too much hoping to cash in. The bowling alley itself now has a grand piano. Oil paintings on the wall. Installed a kitchen and outside seating. It actually did quite well last year. The food was inexpensive but good. A lot of these signs help the potential buyer dream about what they could build. There's another empty lot for sale across the street.
This isn't really in the dowtown district, but about two blocks from it. It's been for sale for several years. Ain't no one buying art in this economy. Again, note the sign and the dream uses for potential buyers. Yea, more "retail," just what the town needs. A "cafe"? And a ton more money to get it started. Across the street are more empty spaces--I kid you not! In January the landords raised rents and the occupants, one of whom was a real estate agent, fled!
Okay, go back to the first picture and this is the marina that's been for sale for ages. It's next to the expensive B and B. This and the next three pictures are all within view of each other and within the same block. Michigan has the highest rate of boat ownership (and now, probably, boat foreclosures). This is the Kalamzoo River before it empties into Lake Michigan.
This "house" was part of a business deal that involved the next picture. It overlooks the river. It's gone through several owners in the past years.
Behind it is the original venture . . .
This was once a classic, white clapboard house that had been converted into affordable apartments for working-class people who live here. It's now been transformed into several condos--small ones--and very expensive. Not one has sold. If you glimpse to the far left--that white building is another condo complex. There's for sale signs there, too. BTW, the house across the street from this place is also for sale.
This house was part of large business venture, too. Another older home stood where it is now. Behind it was another house that was torn down. Two more house like this are supposed to be built. I don't think so. The Christmas wreath at the gable end didn't work. Santa didn't stop.
Actually, I could go on. The lot next to my building has been purchased. It's supposed to be--you guessed it--condos and retail spaces. I can't imagine they'll get financing. To be honest, I'm glad those days are over. Greed ruined my town and my business.
Next time: what a town looks like when it's "gentrified."
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I grew up in Michigan and still have friends and relatives there. I do feel your pain.
Michael: What bothers me is that prices aren't going down--if anything, they going up. This doesn't bode well for the country as a whole.
Sarah: Thanks--we love our Chicago customers! The silver lining is that a lot of these crazy building projects won't be able to go ahead.
Commercial Landlords are starting to default now ... every week we find that another one of our locations landlord's has gone kaput.
The signs in your village show the results of the almost universal greed that you are well aware of. So while some blame only Wall Street it is really true that there were dollar signs in the eyes of developers nationwide, big and small. Any way to make a fast buck.
I am sorry that you have fallen on bad times economically, but glad that you can at least go "home" and hopefully rebuild your life and career after things turn around.
In many ways I am glad that our small village (4000) has been largely bypassed by the opportunists. There is some development on the east side of town that borders I-77, but just enough to take care of the traveling crowd: two motels, truck stop, four gas stations and two fast food places. There is a subdivision laid out by those things that never took off. The roads were laid out about four years ago but then it just stalled. No houses were built.
We are having hard times here as well, but we are used to them. When things were going "good" we in this valley village often asked ourselves where that good stuff was happening because things were never "good" here in northern Appalachian Ohio. Now they are worse but we at least we know how to deal with hard times. We just tighten our belts a bit more than they are already.
Sad but very interesting post.
Monte
You are spot on about people wanting to make a "fast buck." No sooner would they build a building and get it occupied by saps then they'd sell it under their feet. You know, the Bible hates greed and avarice. Why don't you do a post about it????
the chinese have had a thousand years to practice this mental survival skill, while americans used to change things things that didn't work.
Okay, so a couple years ago a couple walks into my studio. They are from POLAND. They tell me the correct pronunciation of my name. The CZ rhymes with the the "cz" as in the first syllable of Chezlovakia.
They even drew a map of Poland and told me where my people came from. Apparently, we have a coat of arms.
Well, last year, a woman walks into my studio. She says quite simply, "Oh, Czerwinski. We we visited your castle last year."
CASTLE????? Like an idiot, I didn't ask her where that was. Oh, well . . .
To those of you who haven't been there: Michigan is a simply beautiful state, from the lakes to the pine forests up north, to the thumb area where I grew up. I sit here overseas and dream of June evenings and July mornings in Michigan--- right around midsummer, when the light lasts till 10:00 pm. The smells of grass and leaf and wet earth rising through the morning dew.
I'm going to be over there in July, and I can't wait.
Please keep posting on OS. Best wishes.
Rated for the distress it highlights
One of our clients went bankrupt. A HUGE national company that everyone thought would be around 'forever' closed down and the shock waves are still reverberating.
This mighty Bush Economy is killing the core of this nation. Exactly as it was designed to do. And the criminals that pulled it off left with all the money. And here I thought that America was different, that 'it couldn't happen here'. It did, over and over and generally the same people profited from it.
So much for capitalism. This economy 'trickled down' alright...
Yes, Jenny has turned her back on the environment in Michigan but that would have happened anyway, only quicker with DeVos.
What gets me is that the republicans and the Chamber of (Horrors) Commerce are using the economy THEY created to beat Jenny senseless over 'jobs'. Cut regulation to get more jobs. Cut taxes to get more jobs. Kill the Department of Environmental Quality to get more jobs. Ruin this state and bankrupt it to 'get more jobs'.
Sad part is that she has fallen for it... Michigan is turning into another Texas where the corporations rule and the people gasp and choke... The once 'Great Lakes State' is being used up by a ruthless corporate centered agenda and yet there aren't any new jobs.
What kills me are the people, holding the future of Michigan in their hands, are throwing it away for empty promises of new jobs and a thriving economy. The ultimate shell game and Michigan slides deeper into ruin... Tragic...
Julie: I hope things work out and you can keep your condo.
Ladyfarmer: Yes, will keep posting--and return for my Michigan Fix.
Jane: Yes, too many "little people" hurting right now. It could be a really bad "summer of discontent."
gonzoid: I hate the name DeVos. He has many connections here and in Holland. His place on Lake Macatawa was recently demolished. I'll assume it's still his and he's going to rebuild even bigger--a real slap in the face for that city with so many out of work and stuggling. And lets not forget Engler--who sat back for years and did zippo.
George: thanks. It is distressing and depressing. I could have take even more pics, but it started to get to me.
Chipmunk: yes, it's across the country. I don't see it ending soon.
Pam: Thanks. Yes, a sad story, indeed.
My husband and I are planning on vacationing (car camping and some motels) on the upper peninsula of Michigan this year. We usually camp out west (Colorado and Utah) but thought we would try something different this year. Maybe our few dollars will help the economy.
Thanks for giving us a up close and personal look at the Michigan economy. I look forward to reading more.
Thanks for this
The kids in my generation who went into corporate life were mostly brain dead in school--the yes men who would eat their mother's heart for a two car garage--I left the first chance I had and lived my entire life in NYC, where I didn't have to feel like a freak.
Mike Moore's ganndfather and my grandfather were part of the same early strikes in Flint. At least, he's reached the national stage and has told the truth. This country won't learn--even the Republicans in the rural upstate areas in Mi., as bad as it is still don't get it--that's the power of ideology.
Ben: I don't know what to say. My head whirls with your comments. My area seems to be the farthest tourists will drive. Norther Michigan is reeling from a lack of tourism--but it started before the economic meltdown. When I look back at all of this, I think it really began with the demise of the steel industry in the 80's. That should have been our wake-up call. Even way back then, I can remember people warning the same thing would happen to the auto industry. But, like you said, no one listened. And now we're there.
I don't know about the "power of ideology." Maybe the power of ignorance and greed. Gov. Engler should have seen this coming, but did nothing--maybe the ideology you talk about.
God, the Travers City area is just so incredibly beautiful. People have no idea, do they? Let's not allow our anger or bitterness diminish our love for beautiful Michigan.
A Mi. historian wrote a book about it a few years ago. Climax (?) was the headquarters for the underground railroad in Mi., and had the first elected black leaders and sheriff in the state, just after the civil war. Write about it--why don't you!
It is the pride of the state that as far as I am concerned has fallen into the depths of racial depravity. My family was in politics in Mi. I have great pride and attachment to the state. My people were there prior to the 1840's and the "Ohio/Michigan wars." U won't get another post like this one; eventually I will tell my story but the words still escape me. It's hard for me to tell. All u have now is what I have written to date on my blog.
I am no more or less than what midwestern values creates of one is a writer--and that is all that I am. good luck.
Well, shit lady, what the hell about the environment? The fish, the beaver, the otter (if there are any left), the birds? If the choice came down to jobs or the environment, I'll vote environment every time! It's that freaking important! (You has been republican plant)
She shoke my hand and swore that the environment would get more and stronger support than under the Engler administration. Yeah. For about three quarters of her first term. Well, then things changed...
Fast tracking coal plants, lip service to solar plants, fast tracking the mines in the UP... She is showing her true colours?
Several of the more involved people here in the environmentalist biz were wondering why she was clinging so close to Obama. Begging Dow's case for getting out of their contamination??? Hmmm?
The mines were stopped but for how long...
Michigan IS a beautiful state, nearly killed by idiot republicans and brain dead democrats. Yes, it's the democrats on the city council that have rolled over for the big belly scratches around here... And those jobs? Not so much...