A vacant commercial building southeast of East Pleasant and North Jefferson streets, just north of downtown Milwaukee, has been sold for roughly $1.28 million.
According to state records, the building located at 1524-1540 N. Jefferson St. was bought by Apachii Capital LLC
. The seller is an affiliate of Milwaukee-based Dermond Property Investments
The nearly 8,900-square-foot building was built in 1968 and has an assessed value of $737,600, according to city records.
It was most recently used as a daycare center, according to online listings. The building was registered as vacant with the city in 2016, a few months after the Dermond affiliate acquired it for $850,000.
Apachii builds and invests in multiple e-commerce companies. Josh Delaney, founder of Apachii, said he would share more details about his plans for the property as they move through the approval process. But, Delaney said he thinks the city and neighbors will be receptive to what he's looking to do.
"I’m excited about everything and think the city and neighborhood will love what I want to bring to the north end block," he wrote in an email.
The building is located in an area that has seen several large apartment developments occur in recent years, particularly along Water Street directly to the west.