Sage on Prospect, a 34-unit, LEED Platinum apartment building on Milwaukee’s East Side, has a new out-of-town landlord. A La Crosse real estate company has purchased the Lower East Side property at 1825 N. Prospect Ave., giving the western Wisconsin buyer another foothold in one of Milwaukee’s tightest rental corridors.
The deal, reported Tuesday by Milwaukee Business Journal, confirms that the high-efficiency building has changed hands from its original developer, Dominion Properties. Dominion Properties developed and branded Sage on Prospect and still features it among the company’s sustainable, adaptive-reuse projects.
About the building
Completed as a conversion in 2016, Sage on Prospect includes roughly 34 one- and two-bedroom apartments and was designed to hit aggressive energy targets. The project earned LEED Platinum status with features such as a ground-source heat exchange field and a rooftop photovoltaic array that help the building operate at net-zero or near-net energy use.
Certification coverage from the GreenHome Institute highlights the building’s geothermal wells, solar array and other performance-focused systems. Trade reporting in Multi-Housing News further breaks down how those systems were assembled into a case study in ultra-efficient multifamily design.
Why buyers are circling the East Side
Regional investors have been hunting for deals in Milwaukee’s multifamily market as rents and occupancy hold comparatively steady, and the East Side keeps showing up on their shortlists. Compact, walkable neighborhoods like this one are attractive for income plays and for owners looking to add value without betting on a brand-new high-rise…