Real Estate Development & New Home Construction

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Shane Kelly
  • Real Estate Agent
  • Cleveland, OH
262
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295
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Can you acquire property from the city?

Shane Kelly
  • Real Estate Agent
  • Cleveland, OH
Posted Jul 13 2022, 12:49

So I have been exploring an idea to basically broker an assemblage between two investors that I had found through public information. They are both interested in each other's land and also another surrounding owner's land as well. There is one plot that none of them own though and it is owned by 'Cleveland City Of Lb91'. I've never looked into anything like this before, so I know almost nothing about it and am looking to learn. My questions at the moment are: 

What is 'Cleveland City Of Lb91'? They own 363 parcels of land according to a website called Regrid, and I'm sure it's something to do with the city, but who or what exactly is it and what will they do with land owned by them?

Is it possible to purchase land from a city in this manner? For example, if a person owned all of the plots on a block but one that is owned by the city, can they buy that plot from the city so they can develop that whole lot? And if yes, how would one go about buying it?

Any guidance is appreciated. Thank you.

Cleveland, Ohio

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