Historic Office - Multi-Tenant

Offered Exclusively By:

MJB Realty Company

Creative Real Estate StrategiesMark J. Balistierri10909 W. Bluemound Road, Wauwatosa, Wisconsin 53226414-531-7996mjbrealtycompany@yahoo.com

3127 West Wisconsin Avenue

Milwaukee, Wisconsin 53208

Real Estate Including

Fully Furnished Offices

$399,000.00

IMPROVEMENTS DESCRIPTION

Name of Property Offices of Greenberg & Hoeschen(Formerly William H. Simpson House)

General Property Type Office - Multi-Tenant

Property Sub Type Office converted from residential

Occupancy 40%

Number of Tenants 4

Stories 2.5

Construction Class D

Construction Type Wood frame

Construction Quality Average

Condition Good

Zoning RO 2

Gross Building Area (SF) 5,292

Land Area (SF) 10,800

Floor Area Ratio (GBA/Land SF) 5.29

Building Area Source City of Milwaukee

Year Built 1889

HVAC Gas F/A with Central A/C

Electric Service Single Phase Adequate Amperage

Sprinkler No

Number of Parking Spaces 12

Parking Type Surface

Parking Spaces/1,000 SF RA 2.27

Miscellaneous The building features 2 and 1/2 levelsof finished office space within aconverted residential mansion. Also,there is an unfinished basement usedfor storage by the offices

Offered Exclusively By:

MJB Realty Company

Creative Real Estate StrategiesMark J. Balistierri10909 W. Bluemound Road, Wauwatosa, Wisconsin 53226414-531-7996mjbrealtycompany@yahoo.com

Proforma Operating Synopsis

Rentable Square Feet 5,292

Rent Rate by SF @ $12.00 $63,504

Gross Rent, Furnished Offices

Rent Rate per Office (Large Front) 2 x $700/mo

Rent Rate per Office (Small) 8 x $500/mo

Potential Gross Income $64,800

Estimated Expenses $28,345

Estimated Net Operating Income (NOI) $35,700

Capitalization Rate (Full Price) 8.9%

Miscellaneous The above calculations consider professional

space with normal office operating expenses

and turn key management. The rent rates

depicted are calculated as gross rent leases

and include furniture, fixtures, equipment and

parking. Tenant would be responsible for

communication and telephone expenses.

Conference rooms and a community kitchen

are available for at no charge to the tenants.

William H. Simpson House

Property History

______________________________________________________________________

William H. Simpson was born in 1846 in Philadelphia to Irish parents. The family, whichcomprised 11 children, moved to Chicago in 1852. Simpson served as a private in the140th Illinois Infantry during the Civil War. Afterward, he worked for the Illinois CentralRailroad Company as the station manager in East Dubuque and, subsequently, as aclerk on a Mississippi River steamboat. He married Sarah M. Cheetham in 1869 andthey had three sons: Joseph W., George C., and William B. The Simpsons moved toMilwaukee in 1877 and William H. began working for the local office of the NorthwesternFuel Company, where he was soon promoted to superintendent.12 In 1889 Simpsoncommissioned the firm of eminent Milwaukee architect Edward Townsend (E.T.) Mix todesign his house on W. Wisconsin Avenue.

Federal census records from 1900 and 1910 show William and Sarah living in the housewith sons William and George. They also had a domestic servant who would haveresided on the third floor.16 After William died in 1919 and Sarah followed sometime inthe 1920s, their son William stayed in the house. He and wife Elizabeth were ownersand occupants through the 1940s when it was sold to Felix M. Barksdale, a city buildinginspector.16 City directory listings suggest that the next owner, Charles Anderson,divided the house into apartments sometime in the 1950s or 1960s.17 His wife Violalived in the home through at least 1980.

By 1985 the law firm Coffey, Coffey and Geraghty took ownership and that yearsubmitted building plans to the City of Milwaukee to make minor changes, convertingthe house into an office.18 It has been a law office for the past 20 years and is currentlyowned by attorney Martin J. Greenberg. The relatively few owners and minor changeshave resulted in a home that retains many of its original characteristics and a highdegree of interior integrity.

MJB Realty Company

MJB Realty Company 10909 W. Bluemound Rd. Wauwatosa, WI 53226 414.531.7996 866.559.7996 MJB Realty FormsMark Balistierri