The interior of the
Chase Tower in downtown Milwaukee has a new look after undergoing millions in renovations.
Built in 1961, the 22-story, 477,772-square-foot building at 111 E. Wisconsin Ave. is one of downtown Milwaukee's oldest office towers. The building's owner, New York-based
Group RMC, announced the renovations last year in hopes of increasing occupancy.
The renovations include upgrades to the building's lobby and tenant and guest amenity spaces, where project leaders held a ceremonial ribbon cutting Thursday. Group RMC declined to disclose the exact cost of the renovations, other than to say it was a "multi-million dollar" project. City permits indicate that a portion of the lobby renovation totaled $750,000, minus utility costs. Costs for other elements of the project, such as improvements to the fitness center or elevator lobbies, were not available through public permits.
"Today we're celebrating not only Group RMC's investment in Chase Tower and the completion of this renovation project — which is truly beautiful — but we're also celebrating the opportunity to provide an improved office product to future companies considering relocating to downtown Milwaukee," said Lafayette Crump, Milwaukee commissioner of city development.
Renovated spaces include a fitness center, tenant lounge with a kitchen and seating area, conference room and upgraded elevator lobbies.
The building is currently about 60% occupied, according to
Jenna Maguire, vice president and office broker at
Colliers, who represents Group RMC in leasing the Chase Tower office space. The investment firm purchased the tower in 2021 for $34 million.
"Most of the vacancy was anticipated/known prior to Group RMC’s acquisition of the asset and the reason for their significant investment in Chase Tower," Maguire said in an email.
Colliers is currently in negotiations with users that could occupy up to 80,000 square feet, or more, in the building, according to Maguire. The team is also negotiating renewals with some of the building's existing tenants.
New tenants include Madison-based
Platform Communications that will lease 3,500 square feet, Madison-based
Madison Investments that will lease 3,300 square feet, and Fort Lauderdale-based
INSPYR that will lease 3,500 square feet, according to permits filed with the City of Milwaukee.
The project team for the building renovations included Milwaukee-based architect
Eppetein Uhen Architects and Janesville-based contractor
JP Cullen.
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