Milwaukee Common Council votes to sell middle school

By: Beth Kevit//November 26, 2013//

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The Milwaukee Common Council voted 11-4 on Tuesday to sell the Malcolm X Middle School at 2760 N. First St.

The property will be sold to Milwaukee-based 2760 Holdings LLC, according to a draft term sheet.

Aldermen Jim Bohl, Robert Donovan, Robert Puente and Joe Dudzik voted against the sale.

According to the draft term sheet, the 170,948-square-foot property and its 4.92-acre lot will be sold for $2.1 million. Roughly half of the building will be leased back to Milwaukee Public Schools to be used for education. The remaining space is expected to house a mixture of residential and retail uses.

The draft term sheet includes three deed restrictions, which bar the owner from using the property to reduce the average number of students enrolled in MPS schools, grant MPS the right of first refusal if the property is to be sold and spell out a procedure for payment in lieu of taxes if the property becomes tax exempt.

— Beth Kevit

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