A former office building on West Wisconsin Avenue has been converted into apartments in the latest project to convert under-performing office space in downtown Milwaukee into living space.
Chicago-based developer 3L Real Estate purchased the 12-story building at 735 W. Wisconsin Ave. from Zilber Ltd. in May 2017 for $4.65 million.
The company then began a $15 million renovation project on the building, converting the former offices into 144 one-bedroom and studio apartments. The building is now named 735 West.
The new units will support the demand for more apartments within walking distance of downtown retail, dining and entertainment options, said Joe Slezak, chief executive officer of 3L.
The building features 17 floor plans with hardwood floors, lofted-ceilings, and rents starting from $799 per month. The building includes a fitness center, bike storage, free Wi-Fi, and stainless steel appliances.
A Wells Fargo Bank branch will remain on the first floor. 3L plans to add additional retail space on the ground floor.
“We have preserved what makes the Wells Fargo Bank building special, while also creating a modern, efficient living space with a great mix of amenities in a location where diverse, young and active residents are excited to call home,” Slezak said in a written statement. “We’re helping to make downtown Milwaukee a place where people will choose to go to live and have fun.”
In recent years other under-performing downtown Milwaukee office buildings have been converted to apartment buildings. These include the conversion of the 11-story building at 401 W. Michigan into the Buckler, which was completed in 2016 and the Germaina apartments at 135 W. Wells St.
