LCM Funds LLC bought a surface lot in Walker’s Point and plans to build apartments that would connect with an existing office building it owns next door.
The scale and size of the new apartment building is not yet determined, said Scott Revolinski, principal with Founders 3 in Milwaukee who represented LCM Funds in the purchase. The property is at 120 E. Oregon St. at the corner with South Barclay Street.
“It’s one of the last good, big chunks available, and it made sense to buy it with everything going on there,” Revolinski said.
That is a busy block in Walker’s Point. Milwaukee developer Robert Joseph owns the northwest quadrant of the block, where he is drawing up plans for an estimated six-story apartment building with first-floor retail. Broken Bat Brewing Co. next year will move into the building on the northeast corner.
Furniture and interior design company Duet Resource Group will soon move into a two-story building fronting on South First Street that it bought from LCM Funds. The connected three-story loft-style building belongs to LCM Funds, and will be renovated into offices. The developer also owns the surface parking south of Oregon Street.
LCM Funds, led by David Winograd, owns a full block of office and apartment buildings at the South Water Works immediately east of the new property it just purchased.
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