Milwaukee Tool closes on purchase of office in downtown MKE, plans renovation work in June
Milwaukee Tool plans to begin renovation work next month on a building in downtown Milwaukee after closing on its purchase of the property late last week.
The Brookfield-based manufacturer plans to spend $30 million to overhaul the 350,000-square-foot, mostly vacant office building, at 501 W. Michigan St., to provide space for 1,200 workers. The project promises to bring a big influx of employees to downtown Milwaukee.
One of Milwaukee Tool’s affiliates closed on Friday on the purchase of the property, paying nearly $8 million, according to a Monday filing with the Milwaukee County Register of Deeds. Before this, the property had belonged to the developer Scott Lauie, of F Street Group, who bought it in 2019 for $4 million.