UW-Milwaukee plans to sell its chancellor residence on east side
Are you house-hunting on Milwaukee's east side?
The University of Wisconsin-Milwaukee is hoping to sell the chancellor's residence at 3435 N. Lake Drive. UWM will first seek permission to sell from the UW Board of Regents, then put it on the market.
The stone Tudor mansion has six bedrooms, four baths and close to 5,000 square feet. It was built in 1927, according to the Wisconsin Historical Society.
UW-Milwaukee's private foundation bought the property in 2012 for $955,000, using donor money and proceeds from the sale of a former official chancellor residence in Shorewood. The Lake Drive property's assessed value has been $961,800 since 2018, according to city assessment records.
Last month, UWM Chancellor Mark Mone purchased and moved to a new place just blocks away from UWM. He will receive a $2,536 monthly housing allowance that started this month, university spokesperson Angelica Duria said.
“Selling the chancellor’s residence is the smart financial move for our university,” Mone said in a statement.
UWM's potential sale is part of a broader effort to cut costs and streamline its real estate. Last year, the university demolished Northwest Quad Building A and permanently closed the Purin dorm. In 2021, UWM sold its former Alumni House to Milwaukee businessman Andy Nunemaker.
Once the sale is made, only the UW-Madison chancellor would be provided a home to live in, UW System spokesperson Mark Pitsch said. All other chancellors receive housing allowances instead.
Contact Kelly Meyerhofer at kmeyerhofer@gannett.com. Follow her on X (Twitter) at @KellyMeyerhofer.
This article originally appeared on Milwaukee Journal Sentinel: UW-Milwaukee to sell chancellor's residence
