Posted Filed under Development, News.

Article posted April 07, 2014 on

A local investment group has purchased two neighboring properties on Milwaukee’s King Drive, and will convert one into offices for a federal agency.

The buildings, at 1818 and 1830 N. King Drive, were sold to an affiliate of Wangard Partners Inc. for $525,000, according to state real estate records.

The two-story, 8.900-square-foot office building at 1818 N. King Drive was last used by nonprofit Strive Media Institute Inc., which closed in 2008. The one-story, 4,600-square-foot building at 1830 N. King Drive is the former home of Tri-State Home Improvement Co., which now operates at 8018 W. Capitol Drive.

The larger building will be converted into a Department of Veterans Affairs office, said Burton Metz, a Wangard vice president. The firm doesn’t yet have plans to announce for the other property, he said Monday.

The buildings were sold to 1818 MLK Drive LLC by Chicago-based IFF, a nonprofit community development financial institution, according to state real estate records.

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