Milwaukee Condo & Real Estate Scene

JSOnline: Riverwest apartments to be sold as condos

Another apartment building goes condo!

This time it will happen to a nine-story apartment building located on North Humboldt in Milwaukee's Riverwest neighborhood. One-bedroom condominium units will start at $66,000 on the ground floor and top off at $102,000 on the top floor. As I indicated in the last edition of my newsletter, one of the biggest reasons why so many apartments are being converted into condominiums is a result of historically low long-term mortgage rates. Developers are trying to keep up with a record number of first-time homebuyers who are converting nondeductible rent payments into deductible mortgage interest and real estate tax payments. Other recently publicized conversions include the Landmark on the Lake and The Blatz Apartments. Tom Daykin of the Milwaukee Journal Sentinel writes more about this conversion project. Click here to read the entire Journal Sentinel article>>>

posted by David Ray @ 6:40 PM