191 Michigan - 191 W Michigan St & 522 N 2nd St

CBRE, as sole advisor to the owner of record, is pleased to present this dynamic ~1.84-acre infill development site situated in the Westown neighborhood of downtown Milwaukee, Wisconsin (the “Property” or “Offering”). The Property consists of two parcels currently operated as surface parking lots at 191 West Michigan Street and 522 North 2nd Street, with additional frontage along Clybourn Street. The site, which occupies half a city block, is a short walk from Milwaukee’s East Town and Historic Third Ward neighborhoods and is adjacent to on- and off-ramps for I-794, providing convenient commuting access to the entire metro Milwaukee area.
The Westown neighborhood is experiencing a renaissance, with a myriad of new and exciting developments and enhancements to existing properties taking place within several blocks of the subject site. Notable newcomers that have already begun to bring thousands of employees and visitors to the immediate area include the Fiserv HQ at Hub640, Milwaukee Tool, Regal Rexnord, and 3rd St. Market Hall at The Avenue. Also forthcoming is the ~10-acre transformative mixed-use sports and entertainment development, the Iron District MKE, which will incorporate an 8,000-seat professional soccer stadium, housing, music, retail, dining, and hospitality. The neighborhood is most well known on the national map for the Deer District/Fiserv Forum, home to the 2021 NBA Champion Milwaukee Bucks.
With Milwaukee’s Downtown Plan 2040 aiming to boost the downtown population from its current ~17,000 residents to 40,000 and increasing downtown employment from 60,000 to 100,000 jobs, the Property is well-positioned to capitalize on this growth trajectory. New ownership may explore developing the site to its expected highest and best use of multifamily residential or pivot to alternative zoning-allowed uses, including office and hotel.