Michigan

Ford Family Makes Plans to Take Back Fair Lane Estate

Filed under: Estates

Now that the Ford family doesn't need to spend sleepness nights fretting over the very existence of its namesake firm, it can dedicate its time to other worrisome matters – like the condition of Fair Lane estate. The 56-room, 31,000-square-foot home finished in 1913 and part of the National Register, has been looked after by the University of Michigan at Dearborn since the 1950s.

A public institution, as should be well known by now, has to be an option of last resort when it comes to taking care of a massive old mansion. UM Dearborn says that Fair Lane needs $12 million in repairs, and that amount forced a choice between doing the best it could for students or doing the best it could for the house.

Hence, oversight of the estate will move from the university to the Ford family in July of next year. At that point the estate will close for a year for repairs. When it reopens it will not only be new again, it will tell a "more comprehensive" familial tale tied into the Edsel and Eleanor Ford House in Grosse Pointe, Michigan.

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Tags: fair lane estate, ford, michigan, university of michigan, university of michigan dearborn

Classic Car Auction To Aid Chrysler Museum

by Jonathon Ramsey (RSS feed) —

Filed under: Luxury Cars & Autos, Auctions

Two years ago the Walter P. Chrysler Museum Foundation, with just 70 cars and six full-time employees at the time, switched to non-profit status and asked Chrysler dealers for $5,000 donations to assist with expenses. We aren't sure what's transpired in the interim, but whatever it was doesn't appear to have done the trick. It is now being reported that the museum will auction 20 of its vehicles in order to help its own bottom line, and they'll go on the block during the Classic Car Auction of Michigan, overseen by RM Auctions.

The RM catalog doesn't break down which cars are being offered by the museum, but they will include a 1904 Rambler Model L Tonneau, and a celebrity-owned 1964 AMC Rambler Coupe – for those of you who count former Michigan Governor George Romney, father of ex-GOP presidential candidate Mitt Romney, a celebrity.

The auction takes place next Saturday and Sunday at The Rock Financial Showplace in Novi, Michigan with a preview day on Friday, April 23 from 9 a.m. to 8 p.m. Tickets are $10.

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Tags: auction, chrysler, classic car auction, classic cars, michigan, museum, rm auctions, Walter Chrysler Museum

Michigan Set To Lose Its Only Ritz-Carlton Hotel

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Michigan is about to lose its only Ritz-Carlton hotel. The Detroit Free Press reports that the hotel currently known as the Ritz-Carlton Dearborn has been sold to an investment group. It will be managed by Greenwood Hospitality Group and as of June 2, it will lose the Ritz-Carlton name. A decision hasn't been made yet as to what brand the hotel will operate under after that. The new owners plan to renovate the property and keep it as an upscale hotel. The hotel has 308 rooms including a 1500-square-foot presidential suite. This is the second time this week we've seen an upscale hotel lose one from the fold. Starwood Hotels & Resorts announced that it is selling two of its New York locations, the W Court and the W Tuscany.

Tags: dearborn, michigan, ritz-carlton, StarwoodHotels, w hotels

Famous 1920s Steam Yacht for Sale at $70 Million

by Jared Paul Stern (RSS feed) —

Filed under: Yachts & Sailing, Wealth

For $70 million you can be the proud new owner of the SS Delphine, one of the last great private steamships of the 1920s, built for motorcar magnate Horace Dodge. The 257-ft. yacht was launched in 1921, fitted out with an interior by Tiffany & Co. and every conceivable luxury a gentleman could wish for on the high seas. Constructed at the Great Lakes Engineering Works in Michigan, she was pressed into service during World War II as the flagship for Admiral Ernest Joseph King, Commander-in-Chief of the U.S. Navy, and Winston Churchill and President Roosevelt are said to have met aboard her prior to convening the Yalta Conference with Stalin in 1945. In the decades following she fell into disrepair until a European clothing mogul had her fully restored to former glory, including the steam engines, several years ago at a cost of $60 million. Along with accommodations for 26 guests and 28 crew members, there's a music salon, cinema, fitness center, spa, sauna, smoking room, swimming pool and original fixtures like the telegraph machine in the mahogany pilothouse.

[via Duncan Quinn]

Tags: Delphine, Horace Dodge, HoraceDodge, Michigan, SS Delphine, SsDelphine, steamer, steamship, Tiffany, Tiffany Co., TiffanyCo., Winston Churchill, WinstonChurchill, yacht

Majestic Star Casinos Files For Bankruptcy

by Deidre Woollard (RSS feed) —

The tough times for casinos continue. Casino operator Majestic Star Casino LLC filed for bankruptcy this week. The move was an a last ditch move after months of talks to restructure debt failed. Majestic Star owns casinos in Indiana, Mississippi and Colorado. The Majestic's parent, Barden Development Inc, is not part of the bankruptcy. Court documents show that the Majestic Star and its affiliates have assets of $402.1 million and liabilities of $771.1 million as of October 31.

The company has said that increased competition and the ongoing recession are to blame for the company's woes. The two casinos and hotel along Lake Michigan in Gary, a casino-hotel in Tunica County, Mississipi, and a casino in Black Hawk, Colorado are all still open for business.

The company operates two casino boats on Lake Michigan in Gary, Indiana and has been working on getting a land-based casino in Gary. Last summer, Indiana lawmakers voted down a measure to allow this. The Majestic Star owes the city of Gary $7.4 million but the mayor of Gary, Rudy Clay has said he still plans to work with casino owner Don Barden to change Indiana law to allow a land-based casino in the city.

Tags: bankruptcy, casinos, majestic star casinos, MajesticStarCasinos, michigan

Art Market Goes Local

by Tom Johansmeyer (RSS feed) —

Filed under: Art

The big numbers and grand auction centers around the world remain under pressure, but small local art scenes are finding ways to thrive. Like the small cap stocks that lead financial markets out of a recession, maybe it's the emerging artist and local art scene that will deliver us from this slump.

Grand Rapids hosted ArtPrize, a new art show this year, and it was so successful that the organizers are going to do it again in 2010. Businesses in town got a bump, and Grand Rapids was able to boost its cred as an art destination. The 18-day competition commenced on September 23, 2009 and drew tens of thousands of visitors to the Michigan city. Some restaurants ran out of food, because they weren't expecting such a large influx of guests. Doug Small, president of the Grand Rapids/Kent County Convention and Visitors Bureau, told The Associated Press, "Nobody had any clue this would happen."

The competition attracted 1,262 entries, varying in size, shape, style and medium. They were displayed in lobbies, on bridges, in parking lots and in the Grand River -- anywhere in town where they could find a place to exhibit. The winners were chosen by the voting public, using the event's website and text messaging, with 37,264 people participating.

The winner was Ryan Ortner of Brooklyn, New York, with the oil painting "Open Water No. 24, measuring 19 feet wide, taking first place, with Tracy Van Duinen taking second and Eric Daigh coming in third. Ortner lent his painting to the Grand Rapids Art Museum, which is going to display it until January.

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Tags: art, art fair, art market, ArtFair, artist, ArtMarket, artwork, brooklyn, brooklyn new york, BrooklynNewYork, grand rapids, GrandRapids, local art, LocalArt, michigan, new york, NewYork

La Jolla Is The Most Expensive Real Estate Market

by Deidre Woollard (RSS feed) —

Filed under: Estates

Coldwell Banker has released their 2009 Coldwell Banker® Home Price Comparison Index (HPCI) and found that La Jolla, Calif., is the most expensive market. In fact there is an over $2 million gap between what they deem the most expensive and most affordable U.S. housing markets. The comparison of similar 2,200-square foot homes in 310 U.S. housing markets found that the average home price in La Jolla is $2.125 million while at the other end of the spectrum, Grayling, Mich., was the most affordable market in America, where a similarly sized home costs $112,675. California fared badly, 13 other California markets are on the most expensive list while Grayling was one of 20 Midwest communities on the most affordable list (others include Akron, Canton, Detroit and Wichita).

Looking at four-bedroom, two-and-a-half bath homes in the United States, thirty percent of the markets show this type of home to be below $200,000, while half of the markets surveyed showed an average price for this type of home to be less than $300,000 meaning there are deals out there. The cumulative average sales price of the four-bedroom homes surveyed in the 310 U.S. markets (including one in Puerto Rico) covered in the Coldwell Banker HPCI is $363,460.

The mention of La Jolla gave me a chance to check in on one of my favorite estates which happens to be in the seaside town. The Razor was once listed at $39 million, it was $32 million when I covered it in April and is now down to $28 million.

Gallery: The Razor

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Tags: california, grayling, la jolla, LaJolla, michigan, real estate prices, RealEstatePrices

East Jordan, Michigan, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

The small town of East Jordan, Michigan has a fair amount of expensive real estate given its size. That's because it enjoys a desirable location at the end of the south arm of Lake Charlevoix, at the mouth of the Jordan River. Today's property is the most expensive piece of property on the market in this small town right now. This piece of land is 69 acres with over 3000 of lakefront footage. The property includes a barn, boathouse, picturesque covered bridge, ponds, a stream and pasture land. Wooden pathways snake through the trees. The pictures show an idyllic summer retreat although it's safe to say that it's a little less charming during the winter months. The main house is a log home which was built in 1983 and has a rustic woodsy feel complete with an elk head mounted on the stone fireplace in the living room. This property is listed at $11.995 million.

Gallery: East Jordan

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Tags: charlevoix, estate of the day, EstateOfTheDay, michigan

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Grosse Ile, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Today's estate in Grosse Ile, Michigan is luxury on a grand scale. The contemporary home was where one of the Fisher Body family mansions once stood in the 1920s. This home was built in 1960 and renovated in 2001. The home is on five acres and is located within minutes of private golf, yacht and country clubs. It boasts the largest privately owned dock in Michigan which is commercial grade and can accommodate a 250 plus foot yacht. The home could be a resort or a residence and includes a glass-enclosed Olympic size swimming pool which is decorated with ceramic and silver tile, a spa facility with various" environmental" rooms (steam, sauna, rain forest, Arizona desert), underground racquetball court and locker rooms for both men/women. It has a commercial kitchen and video conferencing center. The listing doesn't show too many pictures of what's really going on inside but it is an intriguing property. It's listed at $7.5 million.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

Gallery: Grosse Ile

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Tags: estate of the day, EstateOfTheDay, grosse ile, GrosseIle, michigan, real estate, RealEstate

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Granot Loma Estate For Sale For $40 Million

by Deidre Woollard (RSS feed) —

Filed under: Estates

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Tags: granot loma, GranotLoma, michigan, tom baldwin, TomBaldwin

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Michigan's New Luxury Hospital

by Deidre Woollard (RSS feed) —

I've covered the luxe hospital trend for the last couple years but the new Henry Ford West Bloomfield Hospital in Oakland County, Michigan seems particularly lavish. The $360 million new hospital which opens March 15 is designed to look more like a luxury resort and less like a medical center. The LEED-certified complex includes a grocery store with take-home meals and organic produce, a kitchen auditorium for healthy cooking demonstrations, a tea kiosk in the atrium and a retail mall area that includes a pharmacy, medical supply store, a Caribou Coffee and a boutique for mothers and newborns. Rooms have flat-screen televisions, wifi access, 24-hour room service and live feeds of the Detroit Symphony Orchestra. It may sound like a great place to stay but don't plan on a long visit, the hospital staff plans to save money by encouraging shorter stays and using a one stop approach for clinical outpatient procedures to streamline the diagnostic process.

[via MLive]

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Tags: hospital, luxury hospital, LuxuryHospital, michigan, west bloomfield, WestBloomfield

Blue Chip Casino Opens Vegas-Style Hotel Tower

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

We are seeing more and more large casinos in the Midwest. The Blue Chip Casino & Hotel in Michigan City, Indiana recently opened its new, 22-story hotel tower, Spa Blu. The tower is part of a $130 million expansion project that added two restaurants, an event center and a luxury spa to the Blue Chip which still has its casino area out on a riverboat. The tower has 272 rooms and 30 suites, the most lavish of which is the loft, a 1,575 foot suite with glass walls showcasing views of Lake Michigan and the surrounding countryside. Rooms in the Spa Blu tower start at $95.

The casino is hoping to lure back customers with the flashy renovations. Since the Four Winds Casino in New Buffalo, Michigan opened in 2007, the Blue Chip Casino has seen business fall by 40 percent.

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Tags: blue chip casino, BlueChipCasino, casino, michigan

Grand Beach, Michigan, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Today's home in Grand Beach, Michigan immediately draws the eye with its sweeping double staircase facing a lush green lawn leading to the shore of Lake Michigan. The Beaux-Arts style home was built in 2002 and has almost 9,000 square feet of space and 18 rooms. There are nine bedrooms, a large kitchen, a butler's pantry with a crystal chandelier, master suite, formal dining room, oak fireplaces, library, den and more. Wood panelling enhances both a library and a full bar complete with barstools and a large television. The double height living room is quite grand but I can only imagine what the heating bills are in a Michigan winter. This home is listed at $4.6 million.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

Gallery: Grand Beach

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Tags: estate of the day, EstateOfTheDay, grand beach, GrandBeach, michigan

Grosse Pointe Yacht Club Offers Discounts

by Deidre Woollard (RSS feed) —

Filed under: Yachts & Sailing

As we all know things are tough in the Detroit area but now even the Grosse Pointe Yacht Club in posh Grosse Pointe Shores, Michigan seems to be struggling. The yacht club sent out mailers last month offering new members a deal that lets them dock their boats for free during the 2009 season and put down only 25% of their initiation fee and defer the rest over 36 months with no interest. The club's general manager told the Detroit Free Press that the club is still doing well although membership stand at about 850, down from 900 to 950 in recent years. Local marinas are also finding the wait lists for boat-well rental space getting shorter and shorter. The yacht club offers swimming, tennis, bowling, an outdoor bar and fine dining. The Grosse Pointe Yacht Club's roots reach back to 1914 and the 18th century Italian Renaissance style clubhouse was dedicated on July 4, 1929.

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Tags: grosse pointe shores, GrossePointeShores, michigan, yacht club, YachtClub

Benz, Bugatti & Jag at Meadow Brook Auto Auction

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Cars & Autos, Auctions

On August 2nd, RM Auctions will sell of a stunning selection of classic cars, including a coveted Mercedes-Benz Gullwing (above), at the annual Meadow Brook Concours d'Élegance in Michigan. The event takes place at Meadow Brook Hall, the historic 110-room Tudor Revival mansion built in the 1920s by auto heiress Matilda Dodge Wilson. In May, RM set a world record by selling the 1961 Ferrari formerly owned by James Coburn which we wrote about for $11 million.

The Mercedes, a beautiful black 1956 300SL, is estimated at $575,000 - $675,000. We prefer it to the other, slightly more expensive Mercedes on offer, a 1936 500K three-position drophead coupe by Corsica, est. $600,000 - $750,000. Also included in the stunning sale: a 1937 Bugatti Type 57 Ventoux Coupe, est. $475,000 - $575,000; a 1930 Isotta-Fraschini 8A Convertible Sedan by Castagna, similar to the one featured in Sunset Boulevard, est. $400,000 - $600,000; and a 1954 Jaguar XK 120SE Roadster, est. $80,000 - $110,000. See the gallery for more.

Gallery: RM Meadow Brook