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Milwaukee’s Chase Tower sold for over $34M

Chase Tower in Milwaukee (right)
Chase Tower in Milwaukee (right)(Vincent DesJardins via Flickr (CC BY 2.0))
Published: Nov. 26, 2021 at 4:21 PM CST
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MILWAUKEE (AP) - One of Milwaukee’s largest downtown office buildings has been sold.

The Milwaukee Journal Sentinel reports an affiliate of New York-based Group RMC has purchased the the 22-story Chase Tower for $34.25 million. An affiliate of Michigan-based Farbman Group sold the building after buying it for $30.5 million in 2016.

The building was built in 1962 and was originally known as Marine Plaza.

The 477,772-square-foot-structure has 88,223 square feet of office space available for lease. That equates to an 18.5% vacancy rate.

Chase Bank serves as the anchor tenant.

Group RMC bought the 14-story 330 Kilbourn building in downtown Milwaukee earlier this year for an undisclosed price.

Copyright 2021 The Associated Press. All rights reserved.