Oakland Avenue apartment building under contract

The Lakewood Building, a 44-unit apartment building located at 3565 N. Oakland Ave. in Shorewood, is under contract to be sold, according to Jay Craig of Marcus & Millichap. Craig is representing the buyer, whom he declined to name. The deal is expected to close by the end of the first quarter, he said.

The owner of the building is represented by Todd Lindblom of Marcus & Millichap. The building went on the market for sale about three weeks ago and attracted a significant amount of interest, Craig said.

The asking price for the five-story, 49-year-old building was $3.09 million.

In addition to the apartments, the building has 18,000 square feet of retail space. CYGA and Harley’s Men’s Clothing are the retail tenants in the building.

A two-story parking structure is attached to the building.

The building located about two blocks from the University of Wisconsin-Milwaukee campus.

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