MILWAUKEE — Outside real estate investors have purchased the historic Wisconsin Bell building in downtown Milwaukee.
An affiliate of Reign Capital purchased the building at 726 N. Broadway for $30.1 million, our partners at the Milwaukee Business Journal report. AT&T's Wisconsin affiliate, Wisconsin Bell Inc., sold the property, and said they plan on leasing space in the building.
The 20-story building went on the market in 2017, when the telecommunications giant planned to move operations to a nearby building.
Wisconsin Bell Inc.'s predecessor, the Wisconsin Telephone Company, constructed the core of the building in 1930, according to the Wisconsin Historical Society. Architect Alexander Eschweiler built it in an "Elizabethan Revival" style - and it has been the Milwaukee HQ of AT&T affiliates since.
The future use of the building remains uncertain. A number of historic buildings in that part of downtown have been converted into apartments, hotels or multi-use properties.