Real Estate

Milwaukee aldermen voted unanimously Tuesday to support a $73 million tax incremental financing (TIF) package for the new office tower at the Northwestern Mutual Life Insurance Co. corporate headquarters and for street improvements for the Lakefront Gateway project.

Daniel Oakes, the owner of Racine-based A.W. Oakes & Son Inc., a Racine-based earthwork construction services firm, recently purchased an undeveloped 101-acre site northwest of I-94 and County Highway K in the Racine County Town of Raymond.

Walmart will hold a groundbreaking ceremony on Thursday to celebrate the start of construction of a 41,000-square-foot Walmart Neighborhood Market store at W226 S1500 Highway 164 in the Town of Waukesha.

Seattle-based Zillow predicts that home values for the metro Milwaukee housing market will rise 1.9 percent this year.
That is below Zillow’s 3.2 percent expected growth rate for the national housing market.

Milwaukee aldermen voted unanimously this morning to support a $73 million tax incremental financing (TIF) package for the new office tower at the Northwestern Mutual Life Insurance Co. corporate headquarters and for street improvements for the Lakefront Gateway project.

Five banks with a local presence have contributed $2.5 million in capital to a loan pool that will fund the City of Milwaukee’s Neighborhood Stabilization Program efforts.

Kloiber Jewelers, in business since 1926, will be relocating to the Galleria level of the U.S. Bank Center, located at 777 E. Wisconsin Ave., in downtown Milwaukee.

Hyvinkaa, Finland-based Konecranes plans to relocate its operations in Gurnee, Ill., to a 45,479-square-foot space in a 60,256-square-foot building that was built by Milwaukee-based Zilber Property Group in Pleasant Prairie.

A groundbreaking ceremony was held recently for the first phase of The Mayfair Collection development, which will be built by Chicago-based HSA Commercial Real Estate at Highway 45 and Burleigh Road in Wauwatosa.

Home sales in the metropolitan Milwaukee market increased 14.1 percent in the first quarter from the same period a year ago, according to the latest figures provided by the Greater Milwaukee Association of Realtors.