MILWAUKEE-Citizens Bank of Mukwonago has taken control of a 7.3-acre parcel seen as key to the redevelopment of the city's inner harbor.
Citizens Bank reached an amicable agreement with Andrew and Vicki Busalacchi, the owners of the former Grede Foundries property, which had sat vacant for years. The bank took back the property in exchange for the forgiveness of debt, according to The Business Journal of Milwaukee. The land was valued at $3.3 million.
“They worked as hard as they could, and it got to this point where they said 'Let's work something out,' and we did,” says Citizens Bank CEO Charlie Miller. “We think there's a lot of opportunity with this land.” He adds that officials from the Milwaukee Department of City Development have expressed interest in the land. See story in The Business Journal.
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