MILWAUKEE — An iconic Milwaukee mansion built in 1891 for a tobacco magnate is on the market for $1,889,900.
The Schuster Mansion at 3209 Well St. is once again for sale. It's about 9,300 square feet, 8 beds, 7 baths, and 2 half baths. It's a turnkey sale, so everything you see in the home is included. The furniture is valued at around $200,000.
However, it’s not just a home. It’s a fully functioning bed and breakfast. The current owners live on the top floor alongside the guests, but they are ready to retire now. Given the unique nature of this mansion, the ideal buyer is someone who loves history, architecture, and sees this as a business opportunity.
“You could live in the property and have this gorgeous home and be making money off of it and get it turnkey, and it's an established business with great cash flow, so somebody who is savvy as far as investment, for sure," Sophia Barry, the listing agent and managing broker with Berkshire Hathaway Home Services Sophia Barry Realty Group, said.
The only things not included in the sale are a few personal belongings. Along with a bed and breakfast, this could also be used as a wedding venue, event space, or even a private club.
“I think the world is your oyster with this, and whoever is the person to snag it is going to be smart. We've already had showings," Barry said.
Originally, the home was the primary residence for George Schuster. Eventually, in the 1920s, the home was turned into eight apartment units. Then, around 2008, the current owners took over and made it into a bed and breakfast.
“We are seeing a huge resurgence in terms of interest in Victorian design, kind of that cottage core, vintage chic, antiques, the aged brass, crystal, all those things," Barry said.
The Schuster Mansion is located in Milwaukee’s Concordia neighborhood, which is where beer barons like the Pabst family built homes. Also, the Usingers of Usinger Sausage and former Milwaukee mayor Daniel Hoan all lived in the neighborhood.
The home has been listed for sale multiple times in the past decade. A buyer was never found. Barry, the realtor, hopes this time it's different.
“Well, for sure, the fact that it was listed during COVID was a problem, and I think then their second try, they went the auction route. I really think that's an archaic way of trying to sell an iconic property.”
This is your chance to own a little bit of Milwaukee history, and you don't even have to move anything in. You can just use what's already here. Learn more about the listing by going to Sophia Barry's website.
Watch the video to see what it looks like inside the mansion...
It’s about time to watch on your time. Stream local news and weather 24/7 by searching for “TMJ4” on your device.
Available for download on Roku, Apple TV, Amazon Fire TV, and more.
