202 N 8th St

Multi-Family: Mixed Use

202 N 8th St, ManitowocWI 54220

Property Details

Location

Address
202 N 8th St, ManitowocWI 54220
County
Manitowoc
Submarket

Building Size

Building Size
65,000 SF

Building Details

Type
 Multi-Family: Mixed Use
Number of Buildings
1
Occupancy Type
Multi-tenant
Percent Occupied
100%
Building Class
Building Status
Existing
Floors
8
Year Built
Sprinklers
Primary Const.
Masonry
Parking Ratio

Land & Utilities

Land (Acres)
0.45 Acres
Land (SF)
19,697 SF
Zoning
Lot Depth
Lot Width

Contacts

Current Listings

Historic Manitowoc Place

Manitowoc Place is the adaptive reuse of an eight-story historic hotel. Located at 204 N 8th Street in Manitowoc, Wisconsin. This building sits on top of a hill in downtown Manitowoc and is the tallest building in Manitowoc. The upper floors of the building are L-shaped, and nearly all the apartment units are oriented to allow for fabulous views of Lake Michigan, the Manitowoc River, and historic Downtown Manitowoc.

There are thirty-four (34) apartments in floors two through eight. Thirty-Three (33) of the apartments are Section 42 affordable, one is designated for an on-site manager. There is a mixture of eighteen (18) two-bedroom and sixteen (16) one-bedroom units. All units have one bathroom, an open style galley kitchen and living room. Fourteen (14) of the units are restricted to families at or below 50% of County Median Income and nineteen (19) of the units are restricted to families at or below 60% of the County Median Income. Rents currently range from $450 to $650 per month. Tenants are responsible for heat and electric. Each unit has its own separate gas forced air furnace with central air conditioning and separate 40-gallon electric hot water heater. All units come with Stove, Refrigerator, Dishwasher, Garbage Disposal and Kitchen Exhaust Fans.

In addition to the apartments there are also two commercial storefront suites on the ground floor. Each suite is approximately 3,000 sf. One suite has a restaurant paying $1,500 per month in rent. The other suite has an office user that has been there for 15 years and they pay $1,400 per month rent. Both tenants are responsible for their own gas and electric. In addition, there are two cell towers that lease space in the building. Verizon pays $1,400 per month and Cellcom pays $2,040.

In the lower level is a common laundry, a common restroom, multi-purpose community room, storage lockers for the tenants and bike storage. On the third floor is a common roof-top deck for the residents to use. There is parking on site for all 34 units. There is a camera system around the building and at key common areas. The building is also electronically access controlled.

As mentioned earlier, the building was originally a hotel. The project secured Federal Low Income Housing Tax Credits from WHEDA in 2003 along with Federal Historic Tax Credits. The building was completely renovated in 2005 and placed in service in February 2006. Improvements made in 2005 include:

• Complete tuckpointing

• New windows and doors installed throughout

• New interior walls and all new finishes

• New Elevator

• New roofs installed

• New electrical, heating, plumbing and mechanical

alarm systems

• New security systems including cameras and key

card access

This property is subject to a Land Use Restriction Agreement (LURA) that requires certain units to be affordable to tenants below certain incomes.

Listing Broker is a member of the Ownership Entity

ABC Development, LLC

Manitowoc Place is the adaptive reuse of an eight-story historic hotel. Located at 204 N 8th Street in Manitowoc, Wisconsin. This building sits on top of a hill in downtown Manitowoc and is the tallest building in Manitowoc. The upper floors of the building are L-shaped, and nearly all the apartment units are oriented to allow for fabulous views of Lake Michigan, the Manitowoc River, and historic Downtown Manitowoc.

There are thirty-four (34) apartments in floors two through eight. Thirty-Three (33) of the apartments are Section 42 affordable, one is designated for an on-site manager. There is a mixture of eighteen (18) two-bedroom and sixteen (16) one-bedroom units. All units have one bathroom, an open style galley kitchen and living room. Fourteen (14) of the units are restricted to families at or below 50% of County Median Income and nineteen (19) of the units are restricted to families at or below 60% of the County Median Income. Rents currently range from $450 to $650 per month. Tenants are responsible for heat and electric. Each unit has its own separate gas forced air furnace with central air conditioning and separate 40-gallon electric hot water heater. All units come with Stove, Refrigerator, Dishwasher, Garbage Disposal and Kitchen Exhaust Fans.

In addition to the apartments there are also two commercial storefront suites on the ground floor. Each suite is approximately 3,000 sf. One suite has a restaurant paying $1,500 per month in rent. The other suite has an office user that has been there for 15 years and they pay $1,400 per month rent. Both tenants are responsible for their own gas and electric. In addition, there are two cell towers that lease space in the building. Verizon pays $1,400 per month and Cellcom pays $2,040.

In the lower level is a common laundry, a common restroom, multi-purpose community room, storage lockers for the tenants and bike storage. On the third floor is a common roof-top deck for the residents to use. There is parking on site for all 34 units. There is a camera system around the building and at key common areas. The building is also electronically access controlled.

As mentioned earlier, the building was originally a hotel. The project secured Federal Low Income Housing Tax Credits from WHEDA in 2003 along with Federal Historic Tax Credits. The building was completely renovated in 2005 and placed in service in February 2006. Improvements made in 2005 include:

• Complete tuckpointing

• New windows and doors installed throughout

• New interior walls and all new finishes

• New Elevator

• New roofs installed

• New electrical, heating, plumbing and mechanical

alarm systems

• New security systems including cameras and key

card access

This property is subject to a Land Use Restriction Agreement (LURA) that requires certain units to be affordable to tenants below certain incomes.

Listing Broker is a member of the Ownership Entity

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