This property is Off-Market
126 South 2nd Street
Milwaukee, WI 53204 ·
100 Units · Multifamily For Sale
Redevelopment Opportunity - The Lindsay Building
|No. Units||100||Property Use Type||Investment|
|Building Size||220,000 SF||Commission Split||1%|
|Listing ID: 16751015||Date Created: 07/07/2010||Last Updated: 05/09/2014|
Historic tax credit eligible, The Lindsay Building is located in the south part of downtown Milwaukee, across from the Harley Davidson Museum and the new 17 acre office park that starts development with all new street and sidewalks. Lindsay Brothers built this large historic cream city brick warehouse in 1892 and used it for distributing agricultural equipment, binder twine, bicycles, buggies and sleighs. The Lindsay Building is approximately 330 feet long and 140 feet deep with oak columns. The Building has never been vacant although now it is only 10% Ppoccupied with short-term leases to allow for redevelopment.
This is the largest historic building in the historic district. The five floors total 220,000 square feet, one of which is partially below grade. It has roughly 10,000 square feet of office and the remainder is mostly large open spaces with only two brick firewalls. The two walls divide the 44,000 square foot floor plate into three areas that are 26,998 square feet, 8,536 square feet and 8,449 square feet. The floors to ceiling heights are: B - 9'10", 1st - 12'8", 2nd - 10'9", 3rd - 10'9", 4th - 14'5" down to 8'10" .
THE NEIGHBORHOOD: This building is ready for redevelopment as it is located in a former commercial area and now a national historic district. This neighborhood is being redeveloped into an exciting place to live and work. The Walsh Building neighbors new high priced condominiums, new restaurants and new businesses. The building could be a mix of offices, retail space, condominiums and/or apartments. The building could also just remain a storage facility. Historic tax credits are available if desired, but a historic restoration is not required. Federal Renewal Community and New Market tax credits are available.
Located 1000 feet to the east across the river is the 20 acre $75,000,000 Harley - Davidson museum and office complex. The museum complex and is expected to bring in 300,000 visitors per year,
Located 125 feet to the east is a new 12 story building with 150 condos with only a few units available . There are units priced up to $1,500,000.00.
It is an easy walk to the new Amtrak train station, the 75 acre Summerfest park along Lake Michigan, Grand Avenue Mall, major banks, Milwaukee Public Market and downtown entertainment.
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