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Mason St Ventures acquired the property from Sentinel Suites LLC, an Illinois-based investment group led by Doug Young. The Illinois firm paid Milwaukee investor Max Dermond $1.53 million in 2018 for the property. It was billed as 50% vacant at the time. Now it’s 70% vacant. Alex Zank, would turn the building into apartments. “It’s a really cool building, a lot of history behind it, and it’s in a prime location right downtown,” Gollatz told Zank. “You don’t see many buildings like that come up for sale at a semi-affordable price point.” The property is assessed for $1.58 million. The conversion could result in 30 apartments in the 30,848-square-foot building. Gollatz said his group is now talking with architects and contractors.

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