Downtown Racine commercial property sales soar

De'Pizza Chef

Commercial real estate sales in the City of Racine — especially in downtown Racine — have increased by 178 percent since 2014. And 2018 looks to be a banner year for commercial real estate sales.

There were 137 usable commercial property sales recorded by the Racine County Clerk of Deeds office between Jan. 1, 2014 and Oct. 8, 2018. Of those, 19 were sold in 2014, but 53 were sold in 2018 already.

And just within the last month, a number of them have been on Main Street. Here are the highlights:

  • Foxconn announced last week that it would buy 1 Main Street, but the property sale has not been logged by the Wisconsin Department of Revenue website. Officials from Foxconn made the announcement Tuesday at 1 Main Street. The plan to open an innovation center, which will partner with the community on developing and implementing “smart city” innovations.

Foxconn Technology Group announces downtown Racine Innovation Center

  • The old YMCA building sold for $399,000. Based in the Los Angeles area, the investors came together for the one-time project, but they have designs on additional projects in or around downtown. Although the 45,000-square-foot building might be ripe for redevelopment into housing, it is sitting on a valuable spot in the quickly changing Main Street area, which could lead to other uses.

California group jumps into downtown development

  • Rick Onyon, owner of the Butcher & Barrel Gastropub, has purchased two more properties: 233-235 Main Street (previously De’Pizza Chef) and the Casablanca de Mexico Restaurant & Lounge.

Check out the other properties that changed hands. Click on the pushpins to see who sold the property, who bought and for how much.

About Denise Lockwood 3188 Articles
Denise Lockwood has an extensive background in traditional and non-traditional media. She has written for Patch.com, the Milwaukee Business Journal, Milwaukee Magazine and the Kenosha News.