Downtown Tower Could Be Redeveloped With Historic Tax Credits

100 East. Photo by Jeramey Jannene.

Can something from 1989 be considered historic? We’re about to find out.

The developers who purchased the 35-story 100 East office building out of foreclosure are seeking to convert the tower into the state’s tallest apartment building.

To finance the conversion, they’re seeking historic preservation tax credits from the state and federal governments. But to access credits, which offset up to 40% of historically-sensitive repairs or alterations, the building needs to be listed on the National Register of Historic Places. The city’s Historic Preservation Commission (HPC) did its part Monday, voting to recommend the National Park Service recognize the building.

“Generally speaking, buildings need to be 50 years old to be placed on the National Register,” said HPC planner Andrew Stern during the commission’s Monday meeting. “They’re making an argument as the most important Postmodern building in the city of Milwaukee it deserves special consideration.”

“This is not the first building of roughly this age or Postmodern style to be listed early. It’s just the first in Wisconsin,” said HPC planner Tim Askin.

The style, which dates back to the 1950s, flourished in the 1980s and 1990s as a response to modern architecture’s austere nature. The defining features of 100 East, said Stern, are its coursed limestone cladding, symmetrical design, unpainted facade, shaped parapets, bronze spandrel panels and cupola.

The building’s design was intended to pay homage to the previous office tower on the site: the Pabst Building. The structure was constructed in the 1890s in the German Renaissance Revival style. But after being stripped of much of its ornamentation, it was demolished in 1981.

“Likely the most important Postmodern architectural specimen in the city of Milwaukee,” said Stern in summarizing the argument from Kansas City-based preservation consultant Rosin Preservation.

“I think it’s hard to argue against that,” said Stern, noting its visibility and design. It is the third-tallest building in Wisconsin and sits on a prominent site along Wisconsin Avenue between N. Water Street and the Milwaukee River.

A partnership of developers Johnny Vassallo, Joe Klein and Klein Development purchased the mostly vacant building out of foreclosure last August for $29 million. Once the remaining tenants, including Gruber Law Offices and Marcus Corp., relocate from the 435,437-square-foot building, it could become approximately 350 apartments.

“If they can get this through the National Park Service, more power to them,” said Commissioner and area alderman Robert Bauman in support of the designation.

He said he expected the development team to also seek a tax incremental financing subsidy to support affordable housing in a portion of the building.

“I think it would be great for the city to have apartments, whether they’re luxury or otherwise, versus an empty office building,” said Commissioner Jordan Morales.

Ann Pieper Eisenbrown was the lone objection to supporting the nomination.

The tower was designed by the Charlotte-based firm of Clark, Tribble, Harris & Li. It was developed by national firm Faison Associates as a speculative office building. It changed hands several times in recent years before entering foreclosure.

A similar process played out in 2021 with the former M&I Bank building (now known as 770 North) a block to the north. But Askin said the Internal Revenue Service ultimately blocked the use of preservation tax credits on the International Style tower from 1968 because Irgens had demolished the attached parking structure, viewed as a contributing component, to create the site for BMO Tower. Irgens has recently reactivated plans to redevelop the M&I building into a mix of housing, offices or a hotel.

A copy of the 100 East nomination form, a compendium of the building’s history, is available on Urban Milwaukee.

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Related Legislation: File 240244