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    • Milwaukee’s 100 East office tower deemed historic for tax credits
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    Milwaukee’s 100 East office tower deemed historic for tax credits

    Harry Posted on

    35-year-old Milwaukee office tower State officials say this is a historic event; It paves the way for homeowners to receive tax credits to help finance home conversions.

    The owners of 100 East, 100 E. Wisconsin Ave., are seeking federal and state historic preservation tax credits to help finance the redevelopment with about 380 apartments. This requires listing the building on the National Register of Historic Places, which is overseen by the National Park Service.

    Most National Register sites are at least 50 years old. In August, the Wisconsin Historic Preservation Review Board rejected 100 East’s candidacy for registration; board members cited the building’s age.

    The board on Friday approved Klein Development Inc. and reversed that decision following a new presentation by consultants hired by the owners of 100 East, an investor group led by John Vassallo.

    Heritage Consulting Group said 100 East is a clear example of this. Postmodern architectural style − Following a historical style while using modern materials.

    There is a City Hall-inspired dome at 100 East.

    Its exterior features extravagant arches, a copper roof and bronze medallions, while its interior is characterized by a sunlit lobby with marble floors and limestone-clad walls.

    Many of these are homages to the site’s previous occupant: the 14-story Pabst Building, which opened in 1892 and was demolished in 1981.

    The Milwaukee Historic Preservation Commission approved the National Register nomination in July.

    The registration guide states that most nominated buildings must be at least 50 years old. However, younger properties may be eligible if they are of “exceptional importance” at the national, state or local level.

    In August, most state board members were unconvinced about the extraordinary importance of 100 East. But Friday’s presentation changed some minds.

    New presentation reveals the Postmodern situation

    Valentine Schute, a La Crosse architect and chairman of the board’s architecture committee, said it “adds the missing pieces” and makes a stronger case.

    Heritage Consulting cited listing guidelines that say, among other things, that the 50-year rule is an arbitrary standard designed to ensure that sufficient time has passed to evaluate a property in its historical context.

    However, it “should not be implemented on an annual basis,” according to the guidelines.

    “Usually our understanding of history does not advance over the course of a year,” they say, “but rather in periods of time that can logically be examined together.”

    The Postmodern era came to an abrupt end when the commercial real estate industry collapsed in the late 1980s, according to a report by Heritage Consulting. This leaves relatively few examples of the style.

    330 Kilbourn office building, 330 E. Kilbourn Ave. in Milwaukee; Associated Bank River Center office tower, 111 E. Kilbourn Ave. and the first phase of the Baird Center, 400 W. Wisconsin Ave.

    Heritage Consulting said 100 East is the best local example of Postmodernism. Schute said the board’s approval would likely set a precedent for future Postmodern nominations.

    The 35-story, 435,629-square-foot building sold to developers in August 2023 for $28.75 million.

    They plan to start converting it into apartments in 2025, after the remaining office tenants move out. One of the last tenants Gruber Law Officesmost recently until March at 411 East Wisconsin Center, 411 E. Wisconsin Ave. He announced that he would move to .

    State and federal tax credits can cover up to 40% of qualified remodeling costs for historic commercial buildings.

    That’s a “significant dollar amount,” said Joe Klein of Klein Development.

    Tom Daykin can be emailed at: [email protected] and i followed instagram, X And Facebook.

    Harry
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