Jeffers Sells Water Street Building
Soon to be home to Tropic bar and restaurant.
A pair of attached, historic commercial buildings in downtown Milwaukee have a new owner.
The northern building, 522 N. Water St., was built in 1854 and substantially remodeled in 1870 according to a Historic Preservation Commission report. The southern building, 518 N. Water St., was built in 1888 according to the Wisconsin Historical Society.
M13 Graphics occupies the northern side of the first floor. A variety of tenant spaces, including apartments, are located above.
Welch bought the building from 518 North Water LLC, a company led by developer Joshua Jeffers. The developer owns the newly-constructed Huron Building on the eastern side of the block as well as both the Mackie and Mitchell buildings on its northern face.
It’s the second time in three years the property was sold. A limited liability company led by retired Badger Meter CEO Rich Meeusen sold the property to Jeffers for $1.4 million in March 2018 after holding it for eight years.
If you think stories like this are important, become a member of Urban Milwaukee and help support real, independent journalism. Plus you get some cool added benefits, all detailed here.