Deal of the week

Wisconsin Arts Lab LLC recently purchased a 14,400-square-foot, two-story building, at 1422 N. 4th St., Milwaukee. Thomas Pogodzinski and Jeno Cataldo of Brookfield-based NAI MLG Commercial represented Wisconsin Arts Lab LLC in the transaction. The seller and the sale price were not disclosed by NAI MLG. However, the Milwaukee city assessor’s web site indicates that the owner of the building was R.C. Schmidt Jr., and the building has an assessed value of $336,000.

Wisconsin Arts Lab has donated the lease of the entire building to RedLine Milwaukee, which is an urban arts incubator. RedLine will provide professional resident artists and mentoring artists with affordable studio space. RedLine will also house an exhibition hall, library and a community room that can be used by their neighbors. RedLine will also house a print shop for use by RedLine artists and to others in the community, through a membership.

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