News - Historic Milwaukee Building Auctioned Amid Foreclosure Drama

In a twist of real estate fortunes, a landmark piece of Milwaukee's architecture, the historic former Humphrey Scottish Rite Masonic Center, has changed hands. The storied building, located at 790 N. Van Buren St., was put on the auction block as part of a foreclosure process that culminated in its sale to AS 312 LLC, a firm affiliated with Chicago-based lender, Armitage Street LLC. The legal drama began when Saxony Van Buren LLC, the firm behind its transformation into upscale apartments, defaulted on a construction loan. The initial loan, totaling $4.595 million, was meant to facilitate renovations, with the promise of complete payment by July 2026. However, plans went awry, prompting a December court ruling that imposed a $5.185 million judgment on Saxony Van Buren and its backers, Josh Mintzer and Daniel Spitz. The building, spanning three stories and encompassing 58,000 square feet, found itself auctioned for a sum of $1.85 million, a transaction led by Joseph Abruzzo, attorney for the winning bidder, AS 312. This singular offer followed an unsuccessful attempt by Saxony Van Buren to broker a private sale. With the sale under judicial review for confirmation, a hearing is set for June 15 in front of Milwaukee County Circuit Judge Reyna Morales. It signals yet another chapter for a building cherished for its Romanesque Revival roots dating back to 1889, which later morphed into an Art Moderne masterpiece. Original endeavors to revitalize the site as a hotel faltered, yet the potential to convert it into 22 luxury apartments had garnered support from the Historic Preservation Commission in 2021. Some refurbishments, like new window installations, are complete, keeping future possibilities alive. AS 312's acquisition opens new doors, potentially leading to a new sale offering that could redefine the building's next life stage. For further inquiries, reach Tom Daykin at tdaykin@jrn.com, with social media updates available through Bluesky, Instagram, X, and Facebook.