An affiliate of Marquette University has purchased the Ramada Milwaukee Downtown from Oconomowoc-based 633 West Michigan, LLC, for $3.8 million, according to state records.
The seven-story hotel building, constructed in 1967, is located at 633 W. Michigan Street in downtown Milwaukee. The hotel building covers more than 96,000 square feet with 155 hotel rooms and sits on a 1.8-acre site, according to city records.
The property has an assessed value of $3.5 million, according to city records.
Marquette University officials could not be immediately reached for comment on the transaction.
In recent months, the university has been stretching its campus footprint further south and east.
In April, Marquette purchased the Butch’s Old Casino Steak House building, located at 555 N. James Lovell Street, for $690,000 and the Herzing University building, located at 525 N. 6th Street, for $1.465 million.
Last fall, the university acquired 2.3 acres from Zilber Property Group and 4.6 acres from the Wisconsin Department of Transportation. Those properties, located in the 800 block of West Michigan Street in downtown Milwaukee, have been designated for a new athletic performance research center being built through a strategic partnership with the Milwaukee Bucks.