Downtown Milwaukee’s historic “Gas Light Building” is up for sale
MILWAUKEE (WITI) — Milwaukee’s “Gas Light Building” on E. Wisconsin Avenue is up for sale.
The building was put on the market on Tuesday, October 7th.
A firm called “JLL” has been hired by a group of investors to sell the Gas Light Building.
We’re told there is no set asking price for the building. The Milwaukee Business Journal says it’s assessed at $10.7 million.
The building at 626 E. Wisconsin Ave. is best known for the color-changing weather flame on its roof.
Jim Postweiler, managing director of real estate brokerage JLL’s Chicago office, told the Milwaukee Business Journal there are interested buyers with money looking for properties, partially because the prospects for the real estate market long-term remain solid. Postweiler is marketing the building with the Waukesha office of JLL.
The Milwaukee Business Journal says the building is owned by 626 East LLC. It is 87 percent leased. The U.S. Forest Service, with a lease running to 2023, occupies almost 70 percent of the building, according to the Milwaukee Business Journal.
CLICK HERE for more on this story via the Milwaukee Business Journal.