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Milwaukee’s Chase Tower sold for $34.25 million

This Aug. 13, 2020 photo shows the skyline of downtown Milwaukee, the location of a scaled-down...
This Aug. 13, 2020 photo shows the skyline of downtown Milwaukee, the location of a scaled-down Democratic National Convention. About 50,000 visitors were expected to inject about $250 million into the economy of the key presidential battleground state. But now, thanks to the ongoing coronavirus pandemic, the convention is nearly entirely online, with all of the major speakers, including presumptive nominee Joe Biden, skipping the trip to Milwaukee. It would have been the first time Milwaukee, a city of 1.6 million, hosted a presidential nominating convention.(Carrie Antlfinger | (AP Photo/Carrie Antlfinger))
Published: Nov. 26, 2021 at 4:09 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.

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