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Scottish Rite Masonic Center property in downtown Milwaukee transferred to new owners to avoid foreclosure
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Milwaukee Tool hires Mortenson, sets construction start on downtown project
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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.
Company hopes to have 650 workers in downtown Milwaukee by end of 2021. By Jeramey Jannene - May 24th, 2021 01:41 pm //end headline wrapper ?>Milwaukee Tool rendering for 501 W. Michigan St. Rendering by Stephen Perry Smith.
Milwaukee Tool is quickly moving forward on its proposal to bring up to 2,000 jobs to downtown Milwaukee. The company closed on its purchase of the five-story office building at 501 W. Michigan St. last week.
Milwaukee Tool previously said it anticipates beginning redevelopment work on the 370,000-square-foot building this summer. It would eventually bring all of the employees associated with a single product line to the downtown facility, augmenting its Brookfield and Menomonee Falls facilities.
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