{"id":128890,"date":"2024-01-11T10:55:38","date_gmt":"2024-01-11T16:55:38","guid":{"rendered":"https:\/\/uwm.edu\/news\/?p=128890"},"modified":"2024-01-11T12:48:12","modified_gmt":"2024-01-11T18:48:12","slug":"uwm-to-sell-chancellors-residence-to-help-reduce-costs","status":"publish","type":"post","link":"https:\/\/uwm.edu\/news\/uwm-to-sell-chancellors-residence-to-help-reduce-costs\/","title":{"rendered":"51ÁÔÆæ to sell chancellor’s residence to help reduce costs"},"content":{"rendered":"

The University of Wisconsin-Milwaukee will seek permission from the Universities of Wisconsin Board of Regents to sell the chancellor\u2019s residence at 3435 N. Lake Drive in Milwaukee. This is part of 51ÁÔÆæ\u2019s larger effort to reduce costs and divest itself of properties that are no longer serving 51ÁÔÆæ\u2019s best interests.<\/span>\u00a0<\/span><\/p>\n

\"\"
51ÁÔÆæ hopes to sell the university-owned chancellor’s residence. Chancellor Mark Mone has purchased and moved to a personal residence a few blocks from campus.<\/figcaption><\/figure>\n

The university-owned chancellor\u2019s residence was purchased in 2012 by the 51ÁÔÆæ Real Estate Foundation for $955,000 and then transferred to 51ÁÔÆæ. At an upcoming Board of Regents meeting, 51ÁÔÆæ plans to ask the board for permission to sell the property.<\/span> If the request is approved by the Board of Regents, the residence will be put up for public sale at some time in the following months.<\/span><\/span><\/span><\/p>\n

In December 2023, 51ÁÔÆæ Chancellor Mark Mone purchased and moved to a personal residence just blocks away from 51ÁÔÆæ.<\/span>\u00a0<\/span><\/p>\n

\u201cSelling the chancellor\u2019s residence is the smart financial move for our university,\u201d Mone said. \u201cI was glad to be able to purchase a home just a few blocks away from campus, which allows me to be in the community and on campus even more.\u201d<\/span>\u00a0<\/span><\/p>\n

Over the last several years, 51ÁÔÆæ has worked to divest itself of other properties to help streamline space and reduce costs. In 2021, 51ÁÔÆæ sold its former Alumni House to Milwaukee businessman Andy Nunemaker. In 2023, 51ÁÔÆæ demolished Northwest Quad Building A and permanently closed the Purin residence hall. The university also plans to demolish its old Chemistry Building, which had previously been slated for renovations for other purposes.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The University of Wisconsin-Milwaukee will seek permission from the Universities of Wisconsin Board of Regents to sell the chancellor\u2019s residence at 3435 N. Lake Drive in Milwaukee. This is part of 51ÁÔÆæ\u2019s larger effort to reduce costs and divest itself of properties that are no longer serving 51ÁÔÆæ\u2019s best interests.\u00a0 The university-owned chancellor\u2019s residence was […]<\/p>\n","protected":false},"author":40008,"featured_media":128950,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","uwm_wg_additional_authors":[]},"categories":[174,200],"tags":[],"section":[],"display_categories":[],"related-coverage":[],"uwmnews-feed":[],"class_list":["post-128890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-news-in-brief"],"yoast_head":"\n51ÁÔÆæ to sell chancellor's residence to help reduce costs<\/title>\n<meta name=\"description\" content=\"The University of Wisconsin-Milwaukee will seek permission from the Universities of Wisconsin Board of Regents to sell the chancellor\u2019s residence at 3435\" 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