The last remaining tenants at the
100 East office tower in downtown Milwaukee are finding new homes in other downtown office properties as the building's new owners continue efforts to convert it into an apartment complex.
The most recent company to move out of 100 East is
Marietta Investment Partners, which will occupy about 3,000 square feet in the 833 East office building at 833 E. Michigan St. in downtown Milwaukee, developed by Wauwatosa-based
Irgens, according to a permit filed with the City of Milwaukee.
Built in 1989, the 435,629-square-foot 100 East building was once one of downtown Milwaukee’s premier office addresses. But the building has lost several tenants in recent years and went into foreclosure in 2021. The building was placed into receivership and later sold to a development group that includes
Michael Klein of
Klein Development and restaurateur
John Vassallo.
The group plans to convert the building’s office space into up to 400 apartments, but have not released detailed plans. Klein has previously told BizTimes the conversion could begin next year, but Klein and Vassallo did not respond to request for comment.
The conversion plans for the building have led to the remaining office tenants at 100 East making plans to relocate, including
Sperling Law Office, which will occupy 2,300 square feet at 411 E. Wisconsin Ave., and law firm
Hinshaw and Culbertson, which will occupy 6,800 square feet at BMO Tower, according to permits filed with the city.
The conversion, however, could face a financing challenge after a state board rejected the building's nomination for historic status late last month. The development group wants federal and state historic preservation tax credits to help finance the project, which would require the building to be listed on the State and National Register of Historic Places in order to be awarded. The Wisconsin Historic Preservation Review Board voted to reject 100 East's register nomination citing that the building is only 35 years old and most buildings aren't given historic designation until they're 50 years old.
The development group argues that 100 East is the most iconic example of postmodern architecture in downtown Milwaukee and, therefore, should be considered historic despite its age. Some members of the review board indicated they'd reconsider their decision if a stronger case was made.
The
Milwaukee Historic Preservation Commission in July voted 3-1 to endorse the historic status nomination for 100 East, but does not have the authority to designate buildings as historic beyond the local level.
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833 East Michigan building, 833 E. Michigan St. (Photo courtesy of Irgens)[/caption]
