Redevelopment Opportunity - The Walsh Building
160 South 2nd Street, Milwaukee, WI 53204
120,000 SF | Office
Historic tax credit eligible (not required), The Walsh Building is located in the south part of downtown Milwaukee across from the Harley Davidson Museum and the new 17-acre office park that the City of Milwaukee is developing. This historic cream city brick warehouse with wood floors and timber columns built in 1899 was sold to John Deere.
This is the 2nd largest historic building in the district. The six floors total 120,000 square feet, one of which is partially below grade. The building is approximately 143 feet by 140 feet. It is mostly large open spaces with only one brick firewall in the middle. This wall divides each 20,000 square foot floor into two equal 10,000 square foot areas. There are arched openings in the wall that connect each side. The floor to ceiling heights are: B - 11 feet 1 in., 1st - 14 feet, 2nd - 11 feet 9 in., 3rd - 11 feet 9 in., 4th - 11 feet 7 in., 5th - 14 feet 4 in. around by the outer wall sloping down to 11 feet 1 in.
There are 2 6,000-pound freight elevators. Real estate tax due 2013 is $36,000. 2013 rent with existing storage tenants projected at $270.000 with 30,000 vacant. Adjacent 220,000 sq.ft building also available.
THE NEIGHBORHOOD: This building is ready for redevelopment as it is located in a former commercial area and also 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.