Milwaukee’s Third-Tallest Building Could Be Redeveloped

Plans to redesign a high-rise office tower into a possible apartment, condominium or hotel project are on the drawing board at 100 East Wisconsin Avenue in Milwaukee, Wisconsin, Urban Milwaukee reports. Owner Hertz Investment Group is in the process of removing itself from the project. An affiliate of California-based Hertz purchased the property and a skywalk-connected parking structure for US$78 million in 2016, but the building’s occupancy rate has consistently dropped, with the building now almost half-empty. Friedman Real Estate Management took over management of the 35-story, 435,557-ft² building in 2021, after Friedman Real Estate was appointed as the receiver at the request of lender Wilmington Trust. Offers to buy the 33-year-old building were due earlier this month. The next owner could be looking at creating something other than aging class A office space. “It’s the nicest building in town in terms of just pure bones,” according to one witness. Viewers say that while the building’s office space may be quickly aging in terms of the floor plate design, smaller window size and interior design, 100 East has a key feature that would help facilitate a partial conversion: divided elevator banks.