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                                                                    Exhibit 10.1

                               PURCHASE AGREEMENT

     This is a Purchase Agreement ("Agreement") between the following parties:

<TABLE>
<CAPTION>
NAME                                  ADDRESS                 DESIGNATION
----                                  -------                 -----------
<S>                                   <C>                     <C>
Community Shores Bank, a              1030 West Norton Ave.   "Buyer"
Michigan banking corporation          Muskegon, MI 49441

Williamsburg Court Apartments, LLC,   1600 S. Beacon Blvd.,   "Seller"
A Michigan corporation                Suite 260
                                      Grand Haven, MI 49417
</TABLE>

                             STATEMENT OF AGREEMENT

     For their mutual convenience and protection, and in consideration of their
mutual covenants and benefits contained in this Agreement, the parties agree as
follows:

     1. Effective Date. This Agreement shall be effective as of the date of the
execution hereof by the Seller as set forth in Paragraph 20 ("Effective Date").

     2. Offer to Purchase. Buyer offers to purchase and Seller agrees to sell
approximately One and Twenty-Five Hundredths (1.25) acres of real property in
the City of Grand Haven, Ottawa County, Michigan, consisting of the
southwesterly most Two Hundred (200) feet of frontage on US-31 by Two Hundred
Seventy-One (271) feet of land running West to East; such property also being
part of the Five and Twenty-Four Hundredths (5.24) acre parcel commonly known as
1106 South Beacon Boulevard. A site sketch of the location is attached hereto as
Exhibit A. Said property together with all buildings, improvements, easements,
division rights, hereditaments and appurtenances situated on or associated with
the land is collectively referred to herein as the "Premises."

     3. Purchase Price. The Purchase Price for Premises shall be One Million One
Hundred Twenty-Five Thousand and 00/100 Dollars ($1,125,000.00).

     4. Payment of Purchase Price. The Buyer shall pay the full Purchase Price
in cash or cash equivalent to the Seller upon execution and delivery of a
Warranty Deed and performance by Seller of the closing obligations specified in
this Agreement.

     5. Earnest Deposit. Upon Seller's acceptance of this offer, Buyer shall
deposit with Transnation Title Insurance Company ("Transnation") an amount of
Ten Thousand and 00/100 Dollars ($10,000.00) ("Earnest Deposit"), evidencing
Buyer's good faith, to be held by Transnation and applied to the Purchase Price
upon closing of the transaction contemplated herein. If the purchase/sale does
not close for any reason other

<PAGE>

                                                                    Exhibit 10.1

than default of Buyer, this deposit shall promptly be refunded in full to Buyer
upon Buyer's notice as described in Paragraph 9 below.

     6. Title Insurance. After Effective Date, Buyer shall obtain a commitment
for an owner's policy of title insurance without exceptions and in the amount of
the Purchase Price. At the time of closing, such title commitment shall be
updated through the date of closing and shall be marked up to show Buyer as the
fee title holder. The title commitment and title policy shall be without
standard exceptions, effective as of the date of closing, and shall include
endorsements as Buyer may require. The Seller shall pay for the cost of the
title policy and title commitment, except that Buyer shall pay any costs to
provide endorsements.

     7. Access. From and after the Effective Date, at Buyer's expense, Buyer may
conduct such feasibility studies, due diligence, evaluations, and information
gathering regarding the Premises as Buyer shall determine. Subject to the
foregoing, Buyer and Buyer's agents, employees, and designees may enter upon the
Premises for the purposes of inspecting, making surveys, and soil tests,
obtaining topographical information and completing other similar preliminary
development work. Buyer shall promptly repair any damage to the Premises which
may be caused by Buyer or its representatives while on the Premises and Buyer
shall hold Seller harmless from any liability related to entry of Premises by
Buyer or Buyer's agents for purposes described in this Paragraph 7.
Notwithstanding the foregoing, however, Buyer acknowledges that Seller is
operating a business from Premises and will endeavor to conduct diligence herein
referenced and further defined in Paragraph 9 in such a way as to cause minimal,
if any, interference with Seller's business operation.

     8. Terms and Conditions of Purchase. Purchase shall be subject to the
following terms and conditions:

     (a)  Within Twenty (20) days of execution, Seller shall provide, in a form
          satisfactory to Buyer, verification of the ownership entity holding
          title to Premises and an executed resolution or other documentation
          authorizing the signator in Paragraph 20 below to enter into this
          Agreement and proceed to the sale of Premises.

     (b)  Seller agrees to cooperate with Buyer in the obtaining of any
          governmental approvals that may be needed including, but not limited
          to, site plan approval and zoning.

     (c)  Buyer may assign its interest in this Agreement to a related entity
          subject to Seller's prior written approval, which shall not be
          unreasonably withheld.

     9. Contingencies of Purchase. Purchase shall be subject to and contingent
upon the meeting of the following contingencies to Buyer's sole satisfaction and
at Buyer's sole cost:

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                                                                    Exhibit 10.1

     (a)  Approval of purchase of Premises by (i) Community Shores Bank Board of
          Directors, and (ii) the Audit Committee of the Board of Directors of
          Community Shores Bank Corporation or another independent body of such
          Board that may appropriately approve the Purchase under applicable
          rules of the Nasdaq Stock Market; each such approval being received
          within Thirty (30) days of -Effective Date.

     (b)  Review of all conditions relating to Premises including, but not
          limited to, the following: Environmental, engineering, ALTA survey,
          zoning, soil borings, wetlands, and acceptable title insurance
          commitment to Buyer's sole satisfaction. Buyer shall complete such
          review by no later than Seventy-Five (75) days following Effective
          Date.

     (c)  Prior to closing Seller shall provide to Buyer satisfactory written
          evidence that Buyer's proposed use of the subject property as a bank
          branch is acceptable to the municipality subject to a proper site
          plan, etc.

Buyer and its representatives and consultants shall, subject to the terms of
this Agreement, have the right for a period of Seventy-Five (75) days from
Effective Date (the "Inspection Period") to perform such tasks as Buyer deems
reasonably necessary related to diligent review of Premises, subject to the
other terms and provisions of this Agreement. On or before expiration of the
Inspection Period, as may be extended, Buyer may provide written notice to
Seller that Buyer elects to proceed with closing hereunder ("Notice to Proceed")
or, in the alternative, Buyer may notify Seller that contingencies of closing
cannot be met to Buyer's satisfaction ("Notice to Withdraw"). Upon Seller's
receipt of Notice to Withdraw, which may be issued during Inspection Period for
any reason in Buyer's sole discretion, Earnest Deposit shall be refunded in full
to Buyer and neither Buyer nor Seller shall have any further obligation to terms
and conditions of this Purchase Agreement.

     10. Leases and Property Management. This Agreement shall be subject to
tenants' rights. To the best of Seller's knowledge, all existing Lease terms
affecting occupied buildings on the Premises shall expire on or before September
1, 2006. Seller agrees to use its best efforts to insure that all tenants are
removed from the subject property not later than June 1, 2006, provided that the
one tenant whose lease is believed to expire in August 2006 will be removed not
later than September 1, 2006 if all of Seller's attempts to remove said tenant
beforehand fail. Security deposits on the applicable occupied building shall be
transferred to Buyer at the closing. Tenant rents and expenses shall be prorated
as of the date of closing, with the date of closing credited to Buyer.

Seller shall manage, or cause to be managed, the Premises on behalf of Buyer and
at Seller's sole expense from the date of the closing until, and for a period
not to exceed, December 31, 2006. Prior to closing, Seller shall provide to
Buyer the proposed Management Contract, which contract shall be satisfactory to
Buyer.

<PAGE>

                                                                    Exhibit 10.1

     11. Taxes and Special Assessments. Taxes and assessment installments
delinquent for years prior to closing are to be paid in full by Seller. Real
estate taxes and assessments billed during the year of the closing shall be paid
on a calendar year basis with Buyer assuming all such taxes and assessments
after date of closing and Seller paying the taxes and assessments owed through
date of closing. Prorations shall be based upon the last known taxable value of
the entire parcel and last known millage rates, divided by 6 to reflect the
portion of Seller's parcel being conveyed to Buyer. Any security deposits Seller
or its agent may receive from tenants as part of collected rents following the
closing, as set forth in Paragraphs 9(b) and 10 above, shall become the property
of Buyer.

     12. Representations of Seller. Except as otherwise provided or acknowledged
in this Agreement, Seller represents the following to the best of its knowledge:

     (a)  Seller's interest in the Premises shall be transferred to Buyer on the
          closing date, free from liens, encumbrances and claims of others,
          except for tenants rights as specified in Paragraph 10 above.

     (b)  The performance of the obligations of the Seller under this Agreement
          will not violate any contract, indenture, statute, ordinance, judicial
          or administrative order of judgment applicable to Seller of the
          Premises.

     (c)  There is no claim, dispute, litigation or proceeding pending, or to
          the Seller's knowledge threatened, against or involving the Seller or
          the Premises and the Seller does not know of or have reason to know of
          any ground for any such litigation or proceeding which could have an
          adverse impact on Buyer or Buyer's title to and use of the Premises
          before or after closing.

     (d)  Seller shall continue to maintain the Premises in a state of good
          condition and repair during the interim between the signing of this
          Agreement and the closing date.

     (e)  Seller is without the personal knowledge as to the presence on the
          Premises of any toxic or hazardous substances or of any underground
          storage tanks.

     (f)  There are no pending or threatened condemnation proceedings against
          the whole or any part of the Premises.

     (g)  Seller, through the person(s) executing this Agreement, has full power
          and authority to enter into this Agreement and to assume and perform
          all the obligations under this Agreement.

<PAGE>

                                                                    Exhibit 10.1

     (h)  Seller agrees not to convey any of its residual property from which
          the Premises shall be divided to any individual or business that
          competes with the primary business of the Buyer or its Assigns. For
          purposes of this Agreement, the "primary business" of the Buyer is a
          banking institution, and like businesses (savings and loans, credit
          unions, etc.) shall be prohibited. The definition of Buyer's "primary
          business" shall not include, for example, insurance, investments or
          securities brokerage. This covenant not to compete shall "run with the
          land" and Seller shall restrict its deeds accordingly.

     (i)  In the event that Seller's remainder parcel immediately North of the
          Premises and with equivalent depth (approximately 271 feet) along
          US-31 is redeveloped into office space, such building(s) shall be
          designed and constructed using a standard of quality equal to, or
          superior to, that of the Buyer's corporate banking office Muskegon,
          Michigan.

     13. Representations of Buyer. Except as otherwise provided or acknowledged
in this Agreement, Buyer represents the following to the best of its knowledge:

     (a)  The performance of the obligations of Buyer under this Agreement will
          not violate any contract, indenture, statute, ordinance, judicial or
          administrative order or judgment applicable to Buyer.

     (b)  There is no litigation or proceeding pending, or to the Buyer's
          knowledge threatened, against or involving the Buyer, and the Buyer
          does not know or have reason to know of any grounds for any such
          litigation or proceeding which could have an adverse impact on Seller
          or Seller's interest in this Agreement.

     (c)  In entering into this Agreement, Buyer has not relied upon any written
          or verbal representations of Seller regarding the Premises or any
          aspect of this transaction which are not expressly set forth in this
          Agreement.

     14. Closing and Possession. Buyer may provide the Notice to Proceed to
Seller on or before the expiration of the Inspection Period. If Buyer shall fail
to provide the Notice to Proceed within the Inspection Period, this agreement
shall terminate, and neither party shall have any further obligation to the
other. If Buyer shall provide a Notice to Proceed, the delivery of such Notice
shall be deemed a waiver of all contingencies of Buyer herein and the parties
shall proceed to closing, which shall occur not later than Fifteen (15) days
after delivery of Notice to Proceed. Conveyance shall be by Warranty Deed in a
form satisfactory to Buyer. Possession shall also be subject to tenants' rights.

     15. Default. If the Buyer defaults on the terms and conditions of this
Agreement and Seller is not in default, the Seller shall be entitled to retain
Earnest Deposit as liquidated damages and as its sole remedy. If Seller defaults
under this Agreement, Buyer shall be entitled to the prompt return of Earnest
Deposit and Buyer

<PAGE>

                                                                    Exhibit 10.1

may pursue Buyer's legal and/or equitable remedies, including specific
performance, against Seller.

     16. Costs of Closing. The Seller agrees to pay for the following closing
costs: revenue stamps or other real estate transfer taxes, the recording of any
documents necessary to clear the title, and one-half of all closing fees charged
by Transnation. The Buyer shall pay any costs for any pre-purchase inspections
of the Premises, recording of the deed, and one-half of all closing fees charged
by Transnation. Notwithstanding the foregoing, however, each party shall be
responsible to pay its own attorney fees in connection herewith.

     17. Provision of Site Information. Within Ten (10) days of Seller's
execution of this Agreement, Seller shall provide to Buyer copies of any site
diligence, studies, or information in its possession or available to it
concerning Premises including, but not limited to, environmental assessments,
surveys, title insurance, soil borings, and wetlands reviews. All information
described in this paragraph shall be returned to Seller in the event Buyer does
not proceed to closing of its purchase of Premises.

     18. Miscellaneous. This Agreement shall be binding upon and shall inure to
the benefit of the parties and their successors and assigns. This Agreement sets
forth the entire agreement between the parties and may not be amended, modified,
altered or changed except in writing signed by both parties. No provision of
this Agreement shall be interpreted for or against any party because that party
or that party's attorney drafted the provision. This Agreement shall be governed
by and construed according to the laws of the State of Michigan. All
representations and warranties made in this Agreement shall survive the closing.
All notices and other communications to be given or made hereunder shall be in
writing and deemed given only if sent by registered or certified U.S. mail,
return receipt requested, postage prepaid, or by overnight delivery service to
the parties at their addresses as set forth on page 1 of this Agreement. All
such notices or other communications shall be deemed to be given on the date
when mailed. Either party may change the address to which notices and
communications to it are to be sent by giving notice of any such change of
address in the manner heretofore prescribed. This Agreement may be executed in
counterparts or via facsimile and each counterpart and facsimile hereof shall be
effective as an original of this Agreement.

     19. Deadline. The offer represented by this Agreement shall remain open
only until 5 p.m. on ______________ __, 2005. If the Seller has not executed and
delivered an original copy of this Agreement to the Buyer at or before such
time, this Agreement shall terminate and neither party shall have any obligation
to the other related thereto.

                  (Remainder of Page Intentionally Left Blank.)

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                                                                    Exhibit 10.1

This offer to purchase is dated this 4th day of November 2005.

                                        BUYER

                                        Community Shores Bank,
                                        a Michigan banking corporation

                                        /s/ Jose A. Infante
                                        ----------------------------------------
                                        By:   Jose A. Infante
                                            ------------------------------------
                                        Its:  Vice Chairman
                                             -----------------------------------

     20. Acceptance. This above offer is hereby accepted as written on this 4th
day of November 2005 ("Effective Date").

                                        SELLER

                                        Williamsburg Court Apartments, L.L.C.,
                                        a Michigan limited liability
                                        corporation


                                        /s/ William J. Fettis
                                        ----------------------------------------
                                        By: William J. Fettis
                                        Its: Manager

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                                                                    Exhibit 10.1

                                    EXHIBIT A

                                   SITE SKETCH