A northwest side office building is to be sold out of foreclosure and renovated to attract small and medium-sized businesses under a proposal that has received preliminary city approval.
The two-story, 21,000-square-foot building, located at 3953 N. 76th St., would be sold by the city of Milwaukee for $75,000 to Jefferson Crest LLC, under a plan approved Tuesday by the construction committee. Zoning, Neighborhood and Common Council Development. .
The full board is expected to consider this proposal at its November 22 meeting.
Jefferson Crest, led by Daniel Taylor, plans to do renovations totaling about $495,000, according to a report from the city’s Department of Development.
These renovations will create 17 small to medium sized office suites. The company hopes to attract tenants such as professional service providers and wellness service providers, according to the report.
Additionally, Jefferson Crest, which has three community residential facilities, a five-unit apartment building, and other income-producing residential properties, plans to move its office there from 8040 W. Appleton Ave.
There will also be the office move of Building New Pathways LLC, a provider of home health care services, according to its administrator, Siera Payne. This business is now located at 902 E. Hamilton St.
She told members of the zoning committee that there was high demand for small offices, including from contractors working from home during the COVID-19 pandemic.
“They are ready to come back to the offices,” she said.
The city acquired the building in 2011 through a property tax foreclosure. Other potential buyers in the past have abandoned their proposals due to financing and market conditions.
The vacant building has considerable deferred maintenance, including a leaky roof that affected its interior as well as faulty electrical and plumbing systems, according to the city’s report.