Siegel-Gallagher Management Company Retained as Managing Agent for Riverfront Plaza
On November 1st 2015, Siegel-Gallagher Management Company was retained as the managing agent for Riverfront Plaza located at 1110 North Old World Third Street in Milwaukee, WI. The building was renovated from 1987-1991 after serving as the famous Lincoln Fire-Proof Warehouse since 1910. (See attached past pictures).
The Lincoln Fire-Proof Warehouse had stood the test of time, and occupied a prime piece of real estate along Old World Third Street Historic District. It provided a great opportunity for mixed-use commercial and retail space with its dock access to the adjacent Milwaukee River. The construction renovation, completed by Hunzinger Construction and Eppstein Uhen, included the replacement of the entire exterior façade along with the installation of new windows and stone elements to maintain the historic character of the building. The entire interior of the building was transformed into separate multi-tenant office spaces, two restaurants were built on the ground floor, adding new life to Milwaukee’s reinvigorated entertainment district. This project was also a catalyst for additional riverfront development that included an expanded river walk system and more restaurants, lounges and recreational activities offered along the Milwaukee River.
Since the late 1990’s, Riverfront plaza served as a premier office building along the Milwaukee River. On October 31st 2015, an East Coast investor bought the six-story Riverfront Plaza office building in downtown Milwaukee for $7.5 million. The office building has the Ale Asylum and Lucille’s Dueling Pianos on its ground floor. It is across Old World Third Street from two parking lots the Milwaukee Bucks owners recently bought to turn into a pedestrian thoroughfare into their planned entertainment block next to a new arena. The new ownership group plans to upgrade the interior finishes as well as install new energy efficient mechanical equipment that will serve the building and its tenants. Currently, the 108,000-square-foot building is 77 percent occupied and its largest vacancy is about 10,000 square feet.