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Property profile & analytics

507 Michigan St, Unit 525 Milwaukee, WI 53202-5202

  • Office buildings
  • 444,549 SF
  • 2.10 lot acres
OFF-MARKET
Last Sale
Apr 28, 2022
$24,075,226
Value Estimations
$25,960,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US92-0597379
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Johnson Controls - Buildings HQ / Air Conditioning Contractor / Professional Services
  • JCI -Milwaukee / Corporate Office

Property Details for 507 Michigan St

Year built
1902
Lot size
2.10 lot acres
Property size
444,549 SF
Zone code
C9F(A)
Property type
Office buildings
APN
392-0848-100
APU
3920848100

Description

This exceptional Milwaukee office property, the Patent Block, offers 247,610 square feet of Class A space across two connected seven-story buildings. The property boasts a flexible layout, with units ranging from 14,000 to 247,610 contiguous square feet, currently entirely vacant. The historic exterior features large windows maximizing natural light, complemented by a central courtyard further enhancing interior brightness. Four elevators and numerous strategically placed restrooms facilitate efficient floorplate division, minimizing corridor space and renovation costs. The redevelopment prioritizes tenant needs, with initial tenants having input on amenities. Planned amenities include a state-of-the-art conference center and breakout spaces, a high-end fitness center with locker rooms, and an indoor/outdoor lounge utilizing the existing courtyard. The property includes 948 parking spaces and multiple entry points from surrounding streets (Michigan & Jackson). Located at 507 E Michigan St, Milwaukee, WI 53202, this prime location offers unparalleled access and visibility.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

    Method
    Estimation
    Statistic approach
    $29,140,000
  • Comparable approach

    Method
    Estimation
    Statistic Estimate
    $26,560,000
    Market price range: $22.5M - $65.9M
  • Alternative Use

    Use
    Estimation
    OFFICE BUILDING
    $41,285,000
    Current use
    NEIGHBORHOOD: SHOPPING CENTER
    $41,360,000
    Change: +0% Conversion: Difficult

Get a detailed, property-specific valuation — fast and free


Location Insight

  • Map
  • Local Demand
City
Milwaukee
County
Milwaukee
State
Wisconsin
Longitude
-87.9045
Latitude
43.037
CBSA code
33340
CBSA name
MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$571,942
$7,315,200
$16,705,900
$24,021,100
-
$7,315,200
$16,705,900
$24,021,100
More about this property
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