191 W Michigan St & 522 N 2nd St
1.84 Acres of Commercial Land Offered at $5,120,000 USD in Milwaukee, WI 53203
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,120,000
- Property Type
-
Land
Listing Contacts
Matson Holbrook
Verified Profile
Patrick Gallagher
Verified Profile
Gretchen Richards
Verified Profile
Ted Nevermann
Verified Profile
- Property Info
Property Overview
Nestled in the southeast corner of the Westown neighborhood and taking up a half-city block, 191 West Michigan Street and 522 North 2nd Street provide an ideal multifamily development site. Boasting a Walk Score of 95, Bike Score of 85, and Transit Score of 74, the Property has all the necessary nearby amenities, entertainment, and connectivity to provide an accommodating community to its future residents.
West Clybourn Street borders the Property to the south and West Michigan Street borders the Property to the north, providing the Property with ready access further into Milwaukee’s Central Business District as well as onto I-794.
The properties adjacent to the Subject Property include the WEC Energy Group (a Fortune 500 Company) headquarters directly to the west, parking garages serving The Avenue to the north, and a Cambria Hotel and separately owned parking structure to the east. Metered street parking is available on all three streets fronting the Property.
The Property consists of two parcels separated by a public alley. Prospective buyers may consider exploring options to vacate the alley with the municipality.
There are detailed potential multifamily development options in the Offering Memorandum.
West Clybourn Street borders the Property to the south and West Michigan Street borders the Property to the north, providing the Property with ready access further into Milwaukee’s Central Business District as well as onto I-794.
The properties adjacent to the Subject Property include the WEC Energy Group (a Fortune 500 Company) headquarters directly to the west, parking garages serving The Avenue to the north, and a Cambria Hotel and separately owned parking structure to the east. Metered street parking is available on all three streets fronting the Property.
The Property consists of two parcels separated by a public alley. Prospective buyers may consider exploring options to vacate the alley with the municipality.
There are detailed potential multifamily development options in the Offering Memorandum.
Highlights
- + Prime Infill Development Site - Rectangular parcels, C9f(A) zoning, unimpeded views, & income from parking helps cover carrying costs
- + Exceptional Access & Connectivity - Adjacent to I-794 interchange, near public transportation, & four blocks from the Milwaukee Intermodal Station
- + Proximity to Nearby Amenities - Walking distance to two food halls, one block from Milwaukee RiverWalk, & multiple live music venues are near
- + Westown Neighborhood Renaissance - Major employers moving to area, the Iron District MKE, Baird Center expansion, & Deer District momentum
- + Milwaukee's Long-Term Growth Plans - Milwaukee's 2040 Plan envisions adding 15,00 housing units downtown
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