A repurposed electrical substation, a nearly century-old Shorewood Tudor and a 22-acre Franklin farm were among Milwaukee County’s priciest home closings late last month, even as broader market indicators point to a slowdown. Those headline deals, along with a river-view Third Ward condo, show that quirky properties and big stretches of land are still commanding premium prices in a tight market.
Market snapshot
A year-end report from the Greater Milwaukee Association of Realtors finds metro prices holding high while inventory stays thin, leaving the region short of the number of listings needed to pull price growth back toward normal. The group cautions that thousands of additional homes would have to hit the market to reach a balanced supply and ease the upward pressure on prices.
Notable recent closings
Among the top Milwaukee County closings in late February were a Shorewood Tudor that sold for about $1.5 million, a 22-acre Franklin farm that went for roughly $1.4 million, a top-floor Third Ward condo that closed near $785,000 and a converted electrical substation on West Lisbon Avenue that changed hands for about $670,000. The Shorewood home, built in 1926, spans roughly 4,700 square feet, while the Franklin farmhouse, dating to the 1930s, includes a barn and a detached garage. These listings and sale figures were detailed in a recent MLS roundup by the Milwaukee Journal Sentinel.
From substation to single-family
The former substation at 6618 W. Lisbon Ave. shows how adaptive reuse can turn utility space into a full-time residence. Listed by Alexander Paszkowski, the property features a rooftop deck, fenced yard and a two-car attached garage. The listing on Redfin notes that the building sits on about a half-acre and includes more than 11,000 square feet of total floor area configured for residential use.
Why buyers still pay up
Even with overall sales volume down, buyers chasing acreage, distinctive architecture or river views are still paying up, largely because there is little comparable inventory. That is exactly the pattern the Greater Milwaukee Association of Realtors highlighted, with limited supply continuing to support higher prices, especially for one-of-a-kind homes and larger parcels.
Full MLS roundup
Readers who want the complete list of recent Milwaukee County closings can find it in the Milwaukee Journal Sentinel’s MLS roundup, which includes agent credits and additional photos for each sale. The Milwaukee Journal Sentinel compiled the information from local MLS data and agent reports.
