The property acquired by MU from Zilber includes a 132,334-square-foot office building at 801-03 W. Michigan St. UMB Fund Services recently vacated 70,000 square feet of space at 803 W. Michigan St. when it moved to the Schlitz Park complex.
The property Marquette purchased from Zilber Property Group also includes a 7,200-square-foot building at 521 N. 8th St. occupied by the Legal Aid Society of Milwaukee.
In addition to the Zilber property, MU is also buying a 4.6-acre site from the Wisconsin Department of Transportation. That site, south of Michigan Street and west of North James Lovell Street, was previously part of the Marquette Interchange before it was rebuilt. The purchase of that site is expected to be complete in the “next month or so,” said Marquette University spokesman Brian Dorrington.
The university has said the acquisition of the entire seven acre expansion site is expected to cost about $9 million.
Marquette has not determined what it will do with the property, located south of its Straz Tower residence hall at 915 W. Wisconsin Ave., but the expansion could dramatically increase its presence on the east side of I-43 in downtown Milwaukee.