Muskego-based SDI Holding Co. LLC purchased the two-story, 9,300-square-foot building at 170 S. 1st St. in Milwaukee’s Walker’s Point neighborhood for $1.15 million, according to state records.
The building was sold by attorney Michael Polsky, a court-appointed receiver who sold the building through a receivership process under Chapter 128 of state statutes, which is similar to Chapter 11 of the federal bankruptcy law.
Polsky sold the building for The 1818 LLC, an investment group led by developer Tim Dixon.
The building was built in 1895 and was previously occupied by Kramer Foundry. Dixon redeveloped the building, which is now occupied by a Colectivo café and Stack’D Burger Bar.
The buiding sold for well above its most recent assessed value of $789,000, according to city records.