Former Johnsonville CEO buys University Club Tower condo from former Bucyrus, REV Group CEO for $2.6 million

A 4,264-square-foot unit in the University Club Tower Condominium at 825 N. Prospect Ave. has sold for $2.6 million. (Photo of room in condo courtesy of Corley Real Estate)

Former Johnsonville chief executive officer and board chairman Ralph Stayer purchased a two-bedroom, 4,264-square-foot condo in the University Club Tower building in downtown Milwaukee from a revocable trust connected to former Bucyrus CEO and former REV Group CEO Tim Sullivan for about $2.6 million, according to state records. The condo was listed for sale by Corley Real Estate.

Constructed in 2007, the 37-story University Club Tower at 825 N. Prospect Ave. has 53 units. It is the tallest residential building in Wisconsin.

At the helm of the family-owned Johnsonville for more than 30 years, Ralph Stayer passed the job of CEO to his son Michael Stayer-Suprick in 2019. The chairmanship went to wife Shelly Stayer that same year.

Sullivan retired from Bucyrus, which was acquired by Caterpillar, in the early 2010s, and later went on to become CEO and director of REV Group, Inc., a manufacturer of motor vehicles for bus, emergency, specialty, and recreation markets worldwide. He served in that role from 2014 to 2020.

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Cara covers commercial and residential real estate. She has an extensive background in local government reporting and hopes to use her experience writing about both urban and rural redevelopment to better inform readers. Cara lives in Waukesha with her husband, a teenager, a toddler, a dog named Neutron, a bird named Potter, and a lizard named Peyoye. She loves music, food, and comedy, but not necessarily in that order.

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