Former Milwaukee Paper Box building sold for $1.375 million

The former Milwaukee Paper Box Co. building at 1560-68 W. Pierce St. in Milwaukee was sold recently for $1.375 million, according to state records.

Minneapolis-based Sherman Associates Inc. bought the five-story, 112,800-square-foot, 78-year-old building from Roadster LLC.

Sherman Associates plans to convert the building into 72 apartments. The project received affordable housing tax credits, so the apartments will be leased at below market rents to residents with household incomes below 60 percent of the area’s median income.

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