One of downtown Milwaukee’s largest office towers, which was sold last week, has fetched a price that’s nearly 70% higher than its previous sale price just three years ago.
The 30-story 411 East Wisconsin Center, 411 E. Wisconsin Ave., was sold for $124.6 million to Middleton Milwaukee Investors LLC, an affiliate of Middleton Partners, a private real estate investment firm based in Northbrook, Ill., according to newly filed state real estate records.
The building was sold by FMC Invesment Opportunities 411 East Wisconsin SPE LLC, an affiliate of Chicago-based Riverview Realty Partners. Riverview is owned by Stamford, Conn.-based Five Mile Capital Partners LLC.
That rate is now more than 89%.
Riverview made improvements totaling $17.3 million. They include renovations and upgrades to the lobby, atrium, cafe, business center, elevators, parking garage, and heating, air conditioning and ventilation system.
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