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City Real Estate E-newsletter  -  January 18, 2017

 

New Years Resolution

Happy New Year! Happy (New) Home!

In 2016, we're proud to have sold a combined 502 residential and commercial properties, plus an additional 163 vacant lots. For 2017, our resolution in the new year is to help even more residents achieve their goals of homeownership in the city of Milwaukee.

Owning your own home has several benefits, offers tax incentives and generally improves your overall net worth. If becoming a homeowner is on your list of resolutions, save your tax refund and get started today on your path to homeownership.

Our Homebuyer Orientation Sessions are back for 2017 and can help you better understand the $20,000 forgivable loan for rehab of City-owned homes. Additionally, WHEDA offers a pilot loan program to help finance a City-owned home or build new.

Existing homeowners can also take advantage of the STRONG Homes Loan, which offers a partially forgivable loan of up to $20,000 to help with essential home repairs.

Read about more resources below to get started today!
 


    HOUSES FOR SALE
 

 
Homeownership OpportunitiesExtended Property Listing

City Real Estate has reduced the listing price on many homes for sale on the Extended Listing that are available to owner-occupants and investors who want to earn rental income. We also have homes listed with external agents. Work with your realtor to find your new City of Milwaukee home!

Revisit our website on Friday, January 27 to view new properties posted to the Current Listing! UPDATE: The posting date of this listing has now changed and will be made available on 2/22/17.

Owner-occupant buyers may qualify for:



Featured Single Family3216 North 45th Street

3216 N. 45th Street
4 BR / 2 BA  •  1,788 sq. ft.

Located in the Sunset Heights neighborhood on an attractive street with many brick bungalows, this brick and stone home was built in 1929.

The lot is 4,760 sq. ft. and includes a rear garage with alley access.

Asking Price: $45,200
DNS scope of work: $18,690

Extended Listing: Owner-occupants only. May be eligible for $20,000 forgivable loan.



Featured Multi-Family3736 North 2nd Street

3736 N. 2nd Street
11 BR / 6 BA  •  4,824 sq. ft.

Located in the Williamsburg Heights neighborhood, this two-story brick building was built in 1928 and currently has 3 units.

Asking Price: $6,000
DNS scope of work: $101,595

May be eligible for Rental Rehabilitation Loan Program funds (up to $14,999 per unit).
 



Join us for an OPEN HOUSE!

Saturday, February 11, 10 a.m. to noon

Tour three READY-TO-GO homes in the Harambee Neighborhood – available for sale to owner-occupants.

  • 3763 N. 2nd Street - $60,000
  • 3354 N. 1st Street - $71,000
  • 3420 N. 1st Street - $64,000

View house photos and more information online.
 


    HELPFUL RESOURCES FOR HOMEOWNERS


Strong Home Loan
STRONG Homes Loan Program

Accepting applications for current homeowners!

The STRONG Homes Loan Program from NIDC offers partially forgivable loans of up to $20,000 for emergency and essential repairs to owner occupants of 1-4 family properties throughout the City of Milwaukee on a first come, first served basis. Technical assistance will also be provided to assist with rehab projects.

 


    HELPFUL RESOURCES FOR HOME BUYERS & HOME BUILDERS

 

Transform Advantage mortgage pilot program WHEDA logo
The Transform Advantage is a first and second mortgage loan product. It can be used to acquire and rehabilitate a property or for new construction. This product is limited to specific Milwaukee neighborhoods: Clarke Square, Garden Homes, Josey Heights, Near West Side, Riverwest and Walnut Circle.

  • No down payment requirement
  • No mortgage insurance requirement
  • Up to 100% financing is available on the first mortgage
  • Up to 150% financing is available on the second mortgage
  • 0% interest, no monthly payments for 12 months while property being built or rehabbed
  • Low-cost, fixed interest rate will be the same on the first and the second mortgage
  • First-rate, local loan servicing by a recognized industry leader
  • Certain program restrictions and eligibility requirements apply.
  • Home buyer education is required. Contact a housing counseling partner to get started:

  
    BUILD YOUR NEW HOME  IN THE HEART OF THE CITY


Subdivision adBuy $1 Lot + Get $10,000 Forgivable Loan to Build

Subdivisions offer many advantages to prospective homebuyers:

• Brand new construction in the heart of the city of Milwaukee – close to downtown

• Fully improved lots, including sewer, water, lighting and sidewalks

• Shop and compare – affordable
lot pricing means more house
for your money!
 

  
    EVENTS and LEARNING OPPORTUNITIES

 


Learn more at our Homebuyer Orientation Sessions

Attend the next session to learn more about the Homebuyer Assistance Program, which offers assistance from a rehab specialist and up to $20,000 forgivable loans for the rehab of City-owned homes.

Tuesday, February 7, 6-7:30pm
Central Library Downtown,
814 W. Wisconsin Ave.
(Community Room)

View program brochure to find out more about this exciting opportunity!  
English  Espańol

Share with your friends and RSVP on our facebook events page.
 



Community Improvement Project Grants - Info Sessions

Kilbourn Gardens residents and volunteersNIDC offers Community Improvement Project (CIP) grants to support community projects that engage community members and physically improve neighborhoods in Milwaukee. The maximum CIP grant request available for a project is $4,000. Attending an info session is a requirement application.

  • Wednesday, February 8, 6-7pm
    Washington Park Library, 2121 N. Sherman Blvd.
  • Thursday, February 9, 9:30-10:30am
    Martin Luther King Jr. Library, 310 W. Locust St.
     


Landlord TrainingLandlord Training Program

Attend the next Department of Neighborhood Services FREE 5-hour training seminar and receive a 100-page manual and certificate of completion.

  • Wednesday, January 25, 9am-3pm  Sign-In: 8:30am  
    Water Tower, 4001 S. 6th St., 3rd floor
  • Saturday, February 11, 9am-3pm  Sign-In: 8:30am 
    Milwaukee Safety Academy, 6680 N. Teutonia Ave.   


    STAY INFORMED and IN THE KNOW

 

InstagramConnect with us on Social Media!

Follow the Department of City Development on Facebook, Twitter and Instagram for more updates on real estate for sale, programs and incentives offered, development projects around the city, and the latest news from the Mayor's STRONG Neighborhoods Plan.

facebook.com/milwaukeedcd
twitter.com/milwaukeedcd

instagram.com/milwaukeedcd

 

  
    COMMERICAL PROPERTIES & OPPORTUNITIES

 


Proposals for properties below will be considered on a first-come, first-served basis. Financial resources and incentives may be available from the City such as façade grants, white box grants and retail investment funds. Business financing may also be available through our partner MEDC. View more commercial properties for sale at: milwaukee.gov/CRE 

5424-30 W. Lisbon Ave. 5424-30 W. Lisbon Ave.

5423-30 W. Lisbon Ave.
Asking Price: $10,000

Situated on a high visibility corner in the Uptown Neighborhood, this Tudor Revival style brick masonry building was built in 1929. Offering approximately 4,200 square feet of space, this one story single unit building could be used for business, retail or office space. Other permitted uses include service related businesses, recording or art studio space, workout or fitness studio, or a maintenance or repair service. Restoration of the façade required.

5424-30 W. Lisbon Ave. 5424-30 W. Lisbon Ave.

3953 N. 76th St.
Asking Price: $190,000

New listing in highly visible, high traffic count area! This large 21,000 square foot, two-story office building is located on N. 76th Street and only steps away from the prominent intersection at Capitol Drive. Located in the Nash Park Neighborhood, it is also close to W. Appleton Ave. (WI Hwy 175) and just down the street from Midtown Center. Built in 1970, this brick building currently offers 17 units and has convenient parking for guests with approximately 30 surface parking spaces. Permitted uses include general or medical offices, health clinic, financial institution, retail, art/photography studio, recording studio, personal/business services, household maintenance/repair service, catering or café.
 

 
    NEIGHBORHOOD NEWS and UPDATES

 



If your organization would like to be featured in future e-newsletters, please contact
Community Outreach Liaison Christina Klose at cklose@milwaukee.gov


City Real Estate, 809 N. Broadway, Milwaukee, WI 53202   -   (414) 286-5730


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