University Club Tower condo sold for nearly $3 million

Sold by founder of Initiative for a Competitive Inner City

University Club Tower
University Club Tower

Last updated on May 15th, 2019 at 04:48 pm

Michael Porter, the founder and chairman of the Roxbury, Massachusetts-based Initiative for a Competitive Inner City and a Harvard Business School professor, recently sold a condominium on the 27th floor of the University Club Tower in downtown Milwaukee for nearly $3 million, according to state records.

University Club Tower

The 2,447-square-foot, two-bedroom, two-bath condo has an assessed value of about $1.4 million, according to city records.

The condo was bought by Lake East LLC, which has a San Francisco address. According to state records, the agent of Lake East LLC is Katherine Gehl, the retired president and chief executive officer of Germantown-based Gehl Foods Inc. The Gehl family sold the company in 2015 to a private equity firm.

As part of the Initiative for a Competitive Inner City, Porter launched Initiative for a Competitive Milwaukee in 2003, but that initiative ended a few years later, according to a Milwaukee Magazine report.

Gehl has been working to address issues related to U.S. competitiveness and the state of democracy in America. In 2017, she and Porter co-authored a Harvard Business School report: Why Competition in the Politics Industry is Failing America.

The University Club Tower is a 36-story luxury condo building at 825 N. Prospect Ave. that was completed in 2007 and developed by Mandel Group.

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Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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