real estate transaction
Buying, selling, pricing, planning, and negotiating city property and land deals
What to Watch
Watch for an open-session vote that spells out the Coenen-Buyeske purchase terms (price, conditions, and funding) and any action tied to the TIF district 9 extension and site infrastructure costs.
Coming Up
Typically discussed at Business and Industrial Development Committee - Community Development Authority. Check back when the next agenda is published.
The Story
The city is working toward buying the Coenen-Buyeske property at 4955 CTH VV, with a stated closing date of Sept. 15, 2026. The concept discussed includes about 36–40 single-family lots and potential for around 100 multi-family units, with a target finished lot price of $70,000–$75,000. Several related land talks (Sandy Bay offer, possible 9.5-acre industrial park sale, and the property’s valuation work) were handled in closed session.
Key Decisions
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passed Business and Industrial Development Committee - Community Development Authority · Jan 27, 2026 Weichert Realtors Cornerstone, review and possible action regarding Sandy Bay Highlands lot prices and price adjustments
Motion to increase price of all Phase 3 lot prices by 7.5%
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passed Business and Industrial Development Committee - Community Development Authority · Jan 27, 2026 Discussion on possible relocation of Renee's Popcorn
Motion to give Staff the flexibility to negotiate a land negotiation on the 18th Street and Hawthorne Avenue lot
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passed Business and Industrial Development Committee - Community Development Authority · Nov 25, 2025 Consideration of purchase offer for section of Lot 25 subdivided
Consideration of purchase offer for section of Lot 25 subdivided (accept purchase offer letter received for $7,000 for 0.18 acres, with buyer required to submit a CSM and schedule a closing within 30 days).
Record
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The Business and Industrial Development Committee / Community Development Authority discussed Sandy Bay marketing and tools with Weichert, Realtors Cornerstone, and asked Weichert to review lot prices and return with recommendations in February 2026.
Business and Industrial Development Committee - Community Development Authority -
An item was listed for consideration of a purchase offer for a section of Lot 25 (lot subdivision), with no additional outcome details captured in the available meeting summary.
Business and Industrial Development Committee - Community Development Authority -
City Council approved an easement agreement with TPA VI, LLC involving the City’s interest in the 18th Street cell tower property in exchange for a $305,000 lump-sum payment, and authorized the City Manager to sign closing documents.
City Council -
The Community Development Authority reviewed three offers for Sandy Bay Subdivision lots (Lot 22, Block 2; Lot 5, Block 5; Lot 6, Block 5), considered the offers too low, and the lots remained available after counteroffers were rejected; the minutes describe discussion with no formal action.
Business and Industrial Development Committee - Community Development Authority -
The Business and Industrial Development Committee discussed industrial acreage needs and maintaining the Woodland Industrial Park long-term with additional land along Woodland Drive, and reached consensus for staff to begin negotiations with a private property owner for future acreage; no formal vote was recorded.
Business and Industrial Development Committee - Community Development Authority -
A Hamilton Property visioning meeting included an item titled concept mapping and selling city land.
Hamilton Property Community Visioning Process Phase 2 -
The Community Development Authority reviewed Sandy Bay Highlands Phase 3 lot pricing with Weichert Realtors Cornerstone and approved a 7.5% price increase across Phase 3 (all in favor).
Business and Industrial Development Committee - Community Development Authority -
The committee voted 7-0 to enter closed session under state law to discuss property acquisition and business assistance tied to bargaining considerations.
Business and Industrial Development Committee - Community Development Authority -
Staff updated the committee on the proposed acquisition of the Coenen-Buyeske property at 4955 CTH VV, describing a buildout concept of about 36–40 single-family lots and potential for around 100 multi-family units.
Business and Industrial Development Committee - Community Development Authority -
Staff said the city is targeting finished single-family lot prices of $70,000–$75,000 and that closing on the Coenen-Buyeske property is scheduled for Sept. 15, 2026 (or sooner by agreement).
Business and Industrial Development Committee - Community Development Authority -
The city manager connected the Coenen-Buyeske acquisition plan to the TIF district 9 extension, projecting about $160,000 more in tax increment and indicating the city expects to use that money for site prep and infrastructure.
Business and Industrial Development Committee - Community Development Authority -
The committee voted to go into closed session under Wis. Stats. 19.85(1)(e) to discuss negotiations involving property and public funds; in closed session they discussed a Sandy Bay lot offer, reviewed a potential sale of 9.5 acres in the Woodland Industrial Park, and reviewed Colliers’ qualifications and broker opinion of value for the Coenen-Buyeske property (including a commission described as typical for vacant land).
Business and Industrial Development Committee - Community Development Authority