Home Industries Real Estate Developer purchases downtown Racine property

Developer purchases downtown Racine property

By
Hunter Turpin
-
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An affiliate of Oregon, Wisconsin-based Gorman & Co. has purchased a downtown Racine property. The 1.5-acre property, currently used as a parking lot, is located at 65 Harborview Drive and was purchased for $1 million, according to state records. Its assessed value is $600,000, according to Racine County records. Gorman bought the site from Johnson

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Hunter Turpin
Hunter covers commercial and residential real estate for BizTimes. He previously wrote for the Waukesha Freeman and Milwaukee Journal Sentinel. A graduate of UW-Milwaukee, with a degree in journalism and urban studies, he was news editor of the UWM Post. He has received awards from the Milwaukee Press Club and Wisconsin Newspaper Association. Hunter likes cooking, gardening and 2000s girly pop.
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An affiliate of Oregon, Wisconsin-based Gorman & Co. has purchased a downtown Racine property. The 1.5-acre property, currently used as a parking lot, is located at 65 Harborview Drive and was purchased for $1 million, according to state records. Its assessed value is $600,000, according to Racine County records. Gorman bought the site from Johnson Redevelopment Corp., an affiliate of Racine-based SC Johnson. The property is adjacent to an 84-unit senior living community that Gorman developed in 2006 called The Harbor at State and Main. Gorman did not respond to requests for comment. The property is located across the street from a $40 million project by Madison-based Hovde Properties that will bring 202 apartment units and a 100-room hotel. That project is currently under construction, according to Hovde Properties.

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