Plans move forward for downtown sites

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Although the debates over where to locate and how to finance a new arena remain unresolved, two other key downtown Milwaukee properties could be moving toward redevelopment.

Brookfield-based Hammes Co. is working on plans for an office building development in the Park East corridor in downtown Milwaukee.

Hammes would take over a Park East corridor site, located northwest of Water Street and Knapp Street, where Rainier Properties LLC has tried for years to develop an office building with a Marcus Theatres movie theater complex. That project has never moved forward as Rainier, led by Bruce Westling, was unable to attract office tenants.

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Hammes wants to take over Rainer’s options on a 0.37-acre county-owned site and an adjacent privately-owned site on the Milwaukee River.

According to a Milwaukee County report, Hammes plans to build a “multi-office building development” on the site.

Total site remediation costs, including utility relocation and environmental cleanup, for the county-owned and the privately owned parcel are estimated at $6.5 million to $7.2 million, according to the report.

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Meanwhile, the Shops of Grand Avenue in downtown Milwaukee has again been scheduled to be sold in an online auction. The auction will take place from Oct. 21-23 at Auction.com, which is handling the sale along with Rockwood Real Estate Advisors.

The starting bid for the mall will be $4.75 million. A bid deposit of $50,000 is required.

The property to be sold is a four-building complex at 275 W. Wisconsin Ave. with 298,109 square feet of space, and an adjacent 1,748-space parking structure.

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