Downtown Milwaukee Office Tower Nominated for Historic Designation
Redevelopment Plans for 100 E. Wisconsin Ave. Hinge on Historic Designation
According to the Milwaukee Journal Sentinel a downtown Milwaukee office tower built in 1989 could soon be designated as historic allowing its owners to seek federal and state tax credits for its redevelopment into apartments—the 35-story 435,629-square-foot building at 100 E. Wisconsin Ave. was recently purchased for $28.75 million by a group led by Klein Development Inc. and developer John Vassallo. The building is largely vacant and the new owners plan to convert it into approximately 380 apartments with renovations set to begin in spring 2025. The Milwaukee Historic Preservation Commission is scheduled to review the building’s planned nomination to the National Register of Historic Places on July 1. If designated as historic the building could receive significant financial support through tax credits, making the redevelopment more feasible.
Securing historic designation is crucial for the project’s financing, especially in the current tight financing environment marked by high interest rates. The National Park Service typically requires properties to be at least 50 years old to be considered historic but exceptions can be made if the building has significant architectural, historical, or cultural value. The nomination for 100 East emphasizes its post-modernist design featuring elements that pay homage to Milwaukee’s early 20th-century architecture such as limestone arches and vaulted ceilings. These design elements link the modern building to the city’s architectural heritage including the historic Pabst Building it replaced. Gaining historic status would enable the developers to apply for tax credits covering a portion of the renovation costs and making the ambitious project more financially viable.
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35-Story Downtown Milwaukee Office Tower Could Become Historic Landmark, Unlocking $28.75 Million in Tax Credits for Apartment Conversion-Check it out! (PHOTO: Etsy)
Honoring Architectural Legacy: Milwaukee’s 100 E. Wisconsin Ave. Nominated for Historic Designation
Modern buildings, including those from the 1960s, have been increasingly listed as historic in Milwaukee but 100 East would be the first from the 1980s. The building’s nomination highlights its architectural significance and its role in honoring Milwaukee’s lost historic structures. The 100 East building replaced the Pabst Building, a 14-story structure that opened in 1892 and was Milwaukee’s first skyscraper. It was demolished in 1981, which led to the creation of the Milwaukee Historic Preservation Commission. The design of 100 East pays tribute to the Pabst Building’s architectural style while incorporating modern construction methods. If approved, the redevelopment project would leverage historic preservation tax credits to finance the transformation aligning with efforts seen in other projects like the former Marshall & Ilsley Bank headquarters. This move could set a precedent for the preservation and adaptive reuse of more recent architectural landmarks in the city.
Furthermore, the potential designation of the downtown Milwaukee office tower at 100 E. Wisconsin Ave. as historic signifies not only a financial opportunity for its owners but also a cultural and architectural milestone for the city. If approved, this designation could pave the way for similar recognition of more recent architectural landmarks encouraging the preservation and adaptive reuse of buildings from the 1980s and beyond. It would underscore Milwaukee’s commitment to honoring its architectural heritage while embracing modern development trends fostering a harmonious blend of past and present in the urban landscape. Additionally, the project’s success in securing historic status and utilizing tax credits could inspire future developers to explore similar opportunities, contributing to the revitalization and sustainability of Milwaukee’s built environment.
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