A giant industrial building at one of Traverse City's busiest intersections is about to be up for sale, The Ticker has learned.

Faith Reformed Church's congregation recently voted to approve the marketing and sale of the former Lear Corporation facility at the corner of South Airport and LaFranier Roads. The church purchased the 80,000 square-foot building and seven acre property in 2007 with a plan to transform it into another church campus, complete with an auditorium, classrooms, offices, and more. Faith Reformed paid $1.85 million for the property at the time.

Since then, the economy has changed dramatically and, despite incurring architecture, contractor and consulting fees, the church has 

Faith Reformed Church's John Oelze

decided to pull back its expansion plans.

"With the economy, we just didn't have the ability to do the project right now," said Executive Pastor John Oelze, who provided us a quick tour of the building (see video at left).

Although the real estate market is depressed and manufacturing hit especially hard, at least two people familiar with the building and property believe there is hope for the site.

"I think it's got lots of potential," said Garfield Township Supervisor Chuck Korn. "I think it would make an excellent retail site, as far as I can tell."

A local commercial real estate agent agreed, telling us that either a group of retail stores or warehouse space would be likely candidates for the site. He estimated the building could sell in the current market for $1-$1.3 million.

The church has formed a task force to lead the effort to select a real estate agent and market and sell the building.

Faith Reformed purchased the building from a Texas investor who had bought it from Lear Corporation following Lear's closing of the plant in the early 2000s.