Pontiac Silverdome Hits Auction Block

Update (11/17/09): A Canadian firm has submitted the winning bid of $583,000 for Silverdome.

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Obviously, it’s not a residential property, but it’s a headline we couldn’t pass up: the Pontiac Silverdome, which has hosted dignitaries, celebrities and events such as the Pope, the Super Bowl, and Hulk Hogan, is on the auction block in which sealed bids will be accepted by Williams & Williams through Nov. 12.

The dome has hosted many record-setting events and was home to the NFL’s Detroit Lions and the NBA’s Detroit Pistons, but the Detroit area continues to suffer as home values have dropped 23% year-over-year and Michigan has the highest unemployment rate in the U.S.

The Silverdome sits mostly empty and has become a money drain on the City of Pontiac, costing approximately $1.5 million a year in upkeep.