Home U.P. News Updates Agreement Reached For NMU – Marquette Land Sale

Agreement Reached For NMU – Marquette Land Sale

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GLR News Update
GLR News Update

Marquette, MI – (Great Lakes Radio News) – NMU has approved an agreement with the City of Marquette for the sale of property at 1100 Wright Street which is currently used as a student parking lot.

The city plans to locate its new Municipal Service Center at the site. The agreement is for a cash payment of $808,000 at the scheduled May closing.

The city also will reserve up to $600,000 to assist NMU in acquiring the National Guard Armory property.

If the university does not purchase the property within two years, the city will pay NMU $441,000 cash plus interest and the remainder of the reserve will revert back to the city.

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