Chicago man has 1 week to pay for Packard Plant - New York News

Chicago man has 1 week to pay for Packard Plant

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DETROIT (AP) -- The Wayne County treasurer has given a Chicago developer a one-week deadline to come up with the remaining funds on his $2 million bid for a sprawling former Detroit car plant.

William Hults has produced $200,000 in nonrefundable deposits for the dilapidated Packard Plant, but has yet to produce the remaining $1.8 million.

The treasurer's office says Hults has until Nov. 15 to pay up.

Hults wants to convert the site into a commercial, residential and entertainment development.

A Texas doctor's $6 million top bid on the blighted property was thrown out last month after she missed a payment.

The No. 3 bid is from Fernando Palazuelo of Peru.

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