Milwaukee selling prime riverwalk lot for $840,000

The City of Milwaukee is selling a prominent site at the heart of the downtown Riverwalk for $840,000.

“This is an opportunity to develop one of the few remaining vacant parcels on the Riverwalk,” read the proposal, “and contribute to the vitality of downtown Milwaukee.”

The parcel, at 1027 North Edison Street, has 19,985 square feet of waterfront property, including 172 feet of frontage, on the Milwaukee River. The northern part of the property has communication lines underground and a sidewalk providing public access, from Edison Street, to the Highland Street pedestrian bridge. For that reason, only the southern 9,050 square feet are shovel ready.

The parcel is zoned C9B(A), which allows for high-density compatible mixed-use developments, including residential, office and retail projects. The parcel is also included in the Riverwalk Overlay District. The city of Milwaukee will apply for the necessary zoning changes if required by an accepted proposal. The city will also pay for 70 percent of Riverwalk costs, up to a maximum of $2,500 per linear foot, and 50 percent of dock-wall costs, up to a maximum of $1,000/linear foot. Any utility relocation or other infrastructure costs will be at the buyer’s sole expense.