Up for auction: What lies ahead for The Shops of Grand Ave.?

MILWAUKEE (WITI) -- The website Auction.com has The Shops of Grand Avenue listed for an auction beginning June 17th. The minimum bid is $4.75 million and in order to bid, you need a $50,000 deposit.

The property description on the auction site says The Shops of Grand Avenue makes up about 3.6 acres in downtown Milwaukee. The property includes four buildings.

The prospect of an auction has some city leaders concerned that the auction could lead to a new owner employing old strategies.

The Milwaukee Business Journal's Stacy Vogel Davis reports, others have a different perspective.

"This is an opportunity. You know? This is a chance for a new buyer to come in and do something different, because the city wants a different use there. They don`t want it to try to become a traditional mall, again. They`d like to see housing, or office space, or something new, in there," said Vogel Davis.

CLICK HERE to check out The Shops of Grand Avenue listing on Auction.com.