An Illinois developer that plans to build a 300-unit apartment project near I-94 and Drexel Avenue in Oak Creek has acquired the 35-acre site for $2.85 million, according to state records.
Located at 7851 S. 13th St., northwest of West Drexel Avenue and South 13th Street, the development site was acquired by an affiliate of Mount Prospect, Illinois-based Wingspan Development Group.
The buyer, HUB13 LLC, lists Wingspan president Nick Papanicholas Jr. as the buyer’s agent. The seller is a Milwaukee-based entity called Drexel 13 LLC.
Wingspan is planning to construct at the site the 300-unit HUB 13 project, which will consist of several two- and three-story buildings. On its website, the developer says it plans to begin construction sometime in the first half of 2020.
The area around the Drexel Avenue freeway interchange is quickly developing into a commercial hub.
For instance, HUB 13 is being built immediately north of the 24-acre Highgate commercial development. Led by Brookfield-based Somerstone LLC, the development’s projects include a 101,000-square-foot Milwaukee Yard indoor sports facility, a neighborhood hospital by Froedtert & the Medical College of Wisconsin and a Summit Credit Union branch.
In addition, Oak Creek is working with Wisconsin Dells-based Stand Rock Hospitality to develop a 121-room hotel and 11,500-square-foot conference center just south of the Ikea store located northwest of the interchange.