Five apartment buildings near Marquette University’s campus were purchased by a Milwaukee developer with plans to renovate them for the first time in years.
Klein Development purchased a portion of the Cedar Square apartments on North 14th and North 15th streets, which are 100 percent occupied.
Over the next few years, renovations will be completed in the common areas and other portions of the buildings, said Michael Klein, president of Klein Development.
The apartments are currently rented for $450 to $550 per month. Klein said after the buildings are renovated, he believes the rents can be increased to $650 to $750.
“Marquette is on the upswing again,” Klein said. “I love what the university is doing around campus.”
Address: 923 N. 14th St.; 920, 928, 934-940 and 942 N. 15th St., Milwaukee
Buyer: Klein Development
Seller: Cedar Square LLC
Price: $5.8 million
