If you’re looking for an apartment in downtown Milwaukee, you’re in luck.
A few months ago, a resident of Lakeview village bought a two-bedroom apartment in the upscale neighborhood of Lakewood for $2,632,000.
That was almost $200,000 less than what the city of Milwaukee is charging for a two bedroom in a median-priced apartment in this same area.
And it’s a great deal: The apartment comes with free utilities, free parking and an 8% down payment.
It’s also a little pricey: The median price for a single-family home in Milwaukee is $1.3 million.
For the two-story unit, it’s $1,788,000, according to the Census Bureau.
The median monthly rent in Milwaukee in 2018 was $2 and the median monthly income was $28,400.
Lakeview Village, a neighborhood that stretches from the north side of Milwaukee through the suburbs and into the city, has become a major hub for the Milwaukee-based online-home rental company Airbnb, which is based in San Francisco.
The company also rents out its services to hotels and other accommodations in the region.
The Lakeview property is located on the 1,400-square-foot lot of a former industrial site that once housed a factory.
It was built in the late 1950s and early 1960s and later used as a shipping yard.
Its owners sold the land to the city in 2015 for $1 and built a home there.