502 S Main Street, Clawson, MI

Fri, 20 Sep 2024 13:38:08 GMT

Image above is 502 S Main St. in Clawson, Michigan before Rogow Property Management began revitalizing the historic Clawson property.

A Diamond in the Rough

This 4,500 SF building in Clawson, Michigan, was built in 1938 and served as a grocery store and gas station for 75 years. After the owner abandoned the property in 2012, two 1,000-gallon fuel tanks remained underground. The building sat vacant for 14 years until we purchased it with our client following thorough due diligence, including Phase I and Phase II Environmental Studies. We collaborated with EGLE (Environment, Great Lakes and Energy) to remove contamination, clean up the site, and revitalize the entire property.

The building currently serves as Rogow Property Management's primary office, with the remainder leased long-term to a quality tenant. This project exemplifies our commitment to achieving our clients goals by leveraging grants, tax incentives, and relevant laws to improve both the property's condition and financial performance. The building is now stable and meeting budget expectations for our client.

N. Eton Square - Birmingham MI

Fri, 23 Aug 2024 13:38:08 GMT

After the Great Recession, this complex in was purchased by an individual in 2010 and converted into condominiums. Significant capital investment was needed for it to thrive. Once most units were sold, governing documents were created, and a Board was established. Darren Rogow became an active member of the Board and with their approval implemented long-term plans focusing first on life and safety.

Under Darren's leadership, the Board hired structural engineers and collaborated with the local municipality to redesign the complex’s aging balconies. They also addressed deteriorating brickwork, sidewalks, renovated the pool and equipment, and updated the aesthetics.

These improvements were achieved over 7-8 years through careful capital management and monthly due rate analysis. Units that were valued between $85,000 and $110,000 from 2014 to 2017 are now trading in the mid-to-high $170,000’s, with a dedicated Board and residents committed to ongoing investment in the complex.

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502 S Main Street, Clawson, MI

N. Eton Square - Birmingham MI