Even today, many downtown building owners will not try and rent a building out to its capacity especially when extensive remodeling is required. The old Noonan Block on the southeast corner of Wisconsin and Broadway is a case in point. It was originally built in 1867 and is in serious need of renovations. The top floors sit unoccupied while only the bottom floor is rented, sometimes sporadically. In some ways it is a Catch 22. It can't be rented if it isn't renovated and it can't be renovated without income from renters. But something has to give if we want to encourage these historic buildings to remain and have downtown maintain its iconic historic identity. Milwaukee should encourage the re-use of historical properties downtown and make an effort to give tax credits or low interest loans to redevelop these properties.
Obviously, letting owners pay no taxes on such buildings as was suggested in the article would be abused and would not encourage redevelopment but a system has to be put in place so that the historic character of downtown can be saved. It is this character which defines Milwaukee.
Milwaukee Journal, April 17, 1938
Clear a Third Downtown Site
Flint Block to Be Razed to Avoid Taxes on Non-Income Bearing Property
Another large downtown building - the five story Flint block at the northeast corner of N. Plankinton av. and W. Clybourn st — will be torn down to escape a crushing burden of taxation on an unproductive investment. The site will be made into a parking station.
Demolition operations will be started Monday by the Mid-West Wrecking Co- Inc., 1559 W. Pierce st. Hundreds of tons of bricks and heavy timbers will be salvaged from the thick walls and heavy floors.
The Flint building is the third large downtown structure to be doomed this spring — all for the same reason — to escape taxes on investment properties that have stood vacant for several years.
Others Plan Action
Frederick P. Jones, head of the Frederick P. Jones Co., managers of the Flint property, said that owners of several other vacant buildings in the neighborhood were discussing having buildings torn down. He said at least half a dozen other large structures might be wrecked this year.
The site of the four story, Hoffmann & Billings Co. building at 526 S. 2nd St., which is now being wrecked, was leased Saturday to Robert E. Lee for an addition to his parking station at N. Plankinton av. and W. Michigan st. Wrecking operations have been started on the Staunton building on E. Wisconsin av.
Jones said the Flint property was in sound condition and would be usable for another 30 or 40 years. As recently as 1925 about $45,000 was spent to modernize the structure.
The building, formerly renting for $12,000 a year, has been vacant for about four years. Since it was vacated by the last tenant, the Badger Candy Co., more than $10,000 taxes have been paid on the property without a cent of income.
The property is now owned by the W. S. Co., which stems from the Wallace Smith Co., an old Milwaukee saddlery manufacturing firm. It was originally owned by the J. G. Flint Co., coffee, tea and spice merchants.
Paid $2,700 Recently
Jones said that the city has reduced assessments on the property to some extent in recent years, but that it still paid almost $2,700 in taxes.
The decision to tear down this good building shows that the method of taxation on real property is wrong," Jones said. "If taxation were based on the income a property produces instead of on its valuation, owners would not be forced to tear it down in periods when vacancies are abnormal."
Jones said the Flint building had been offered at a rental about the same as the taxes but found no takers.
