Vacant Building Could Be Hub for Entrepreneurs

Real estate investor Daniel Taylor and “mommypreneur” Sieria Payne have big plans for a vacant office building at N. 76th St. and W. Capitol Dr.

Taylor’s Jefferson Court firm will purchase and redevelop the three-story, 21,000-square-foot office building at 3953 N. 76th St. Jefferson Court intends to reconfigure the building to have approximately 17 small office suites, with a layout similar to how it was used in the past.

Jefferson Craft will pay $75,000 for the property and a Department of City Development (DCD) report indicates Jefferson will invest approximately $495,000 to rehabilitate the property. The firm and its affiliate, Building New Pathways Assisted Living, will relocate to the top floor of the building.

“We plan to offer events to the community that bring in free mental health care services, free local food drives and giveaways. We also would bring in financial literacy speakers that would teach the community how to fix their credit and how to do homeownership,” said Payne, Taylor’s partner on the project, to the Zoning, Neighborhoods & Development Committee on Nov. 15.

“How is this going to be a money maker for you?” asked Ald. Scott Spiker, citing the community events.

Payne said a number of people have already inquired about space. “We just plan to do heavy marketing to basically keep it occupied. There is a heavy need in the community for entrepreneurs to have office spaces.” She said her firm currently operates a coworking space. City records indicate it is located at 902 E. Hamilton St. in the Hamilton Stables building on the Lower East Side.

The redeveloped building would be known as the “The Essie Mae Office Complex” according to a rendering. The firm is working with architectural designer Jwayne Gordon. DCD’s report indicates Jefferson Court will replace a leaking roof, install an elevator in the rear and make a number of upgrades to the HVAC systems.

The city acquired the building via property tax foreclosure in 2011 from Makbul Sajan. Built in 1970, the building was listed for sale approximately a year ago. The property includes a 30-stall surface parking lot to the north of the building. It was once assessed for $649,000.

The building used to be known as the Capitol View Professional Building, as a somewhat deteriorating wall sign shows. Since its completion in 1970, it’s held a variety of tenants including dentists, jewelers, insurance agents, counselors and marketers. The partially exposed basement was used as a religious assembly space. “Plentiful parking, ideal for dentists, doctors, general office use,” said a 1975 ad in the Milwaukee Journal for a 2,000-square-foot suite.

The property is located in the city’s Nash Park neighborhood.

Jefferson Court has developed three community-based residential facilities in the past two decades. It also owns a five-unit apartment building and a single-family home. Taylor is also pursuing a project involving a 40-acre farm with event center in Mount Pleasant, TX says DCD’s report.

The full council unanimously endorsed the sale on Nov. 22.