Real estate deal of the week

Last updated on May 13th, 2019 at 02:42 pm

Lori Gensch purchased an 18,250-square-foot building at 221 S. Second St., Milwaukee from the estate of Clarence Gemerhausen.

Lori Gensch recently purchased an 18,250-square-foot building at 221 S. Second St., Milwaukee from the estate of Clarence Gemerhausen. The four-story building is 152 years old. The sale price was $600,000, well above the building’s assessed value of $218,000, according to city records. The Gemerhausen estate was represented by Rand Wolf of CB Richard Ellis. Gesch plans to redevelop the building with retail space on the first floor and residential space on the upper three floors.

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