A Deerfield, Illinois-based investor group purchased Liberty Mutual’s Milwaukee office building, located on the northwest side, for $3 million, according to state records.
Boston-based Liberty/Milwaukee LLC, an affiliate of Liberty Mutual, sold the two-story, 57,332-square-foot building at 11800 W. Park Place to LP Park Partners LLC.
The buyer was a partnership formed by Chicago investors Levin Properties, Inc. and Revest Partners, LLC.
CBRE will retain leasing and management under the new ownership. Liberty Mutual remains in the building on the second floor.
CBRE’s focus at the property will be filling the remaining availability on the first floor, according to the company.
The property is located on eight acres off Highway 45 and Interstate 41. It is assessed by the city of Milwaukee for $5.4 million.
