This underused, historic downtown Milwaukee office building has a new owner. It could be converted to apartments.
Tom Daykin, Milwaukee Journal Sentinel
An underused, historic downtown Milwaukee office building could be redeveloped as apartments or other uses by its new owner.
The 10-story, 30,800-square-foot building, 225 E. Mason St., was recently sold for $2.1 million to Mason Street Ventures LLC, a local investors group, according to state real estate filings.
The building's occupancy rate is just 30% and it has low lease rates, said Adam Gollatz, Mason Street Ventures co-owner.
Mason Street Ventures is considering "potential redevelopment opportunities," Gollatz said.
It isn't yet known whether the building will continue to provide office space or be converted to a new use, he said.