Selling of former UW-Milwaukee chancellor home is latest step in state higher ed budget cuts

The former home of the University of Wisconsin-Milwaukee chancellor is on the market for nearly $1.3 million.

The university announced in January it hoped to sell the house as part of an effort to cut costs. In February, the Universities of Wisconsin Board of Regents approved the university’s request.

“Selling the chancellor’s residence is the smart financial move for our university,” UW-Milwaukee Chancellor Mark Mone said in a statement in February.

Mone purchased a different home near the university last year for $1.13 million, public records show. He will receive a $2,536 monthly housing allowance starting this month.

Once the sale of the house is complete, the UW-Madison chancellor will be the only campus leader in the system who receives a university-owned residence. All other comprehensive chancellors receive a housing allowance.

‘One of the most quintessential, beautiful homes’

The UW-Milwaukee chancellor’s French Revival home was designed by architect Charles Valentine and built in the 1920s. It was originally commissioned for Sylvester A. Weyenberg, president of the F. L. Weyenberg Shoe Company, and his wife, Gertrude, according to the real estate broker.  

The house is on both the National and State Register of Historic Places. It was used by the chancellor as his residence as well as for entertaining and university meetings.

Suzanne Powers of Powers Realty Group in Shorewood is brokering the property.

“Charles Valentine built one of the most quintessential, beautiful homes on Lake Drive,” Powers said.

The 5,668-square-foot, six-bedroom house is across the street from Lake Michigan. The property includes a two-car garage, a wine cellar and an “enormous” backyard.

Powers said she loves the floor-to-ceiling windows, Pullman ceiling, Spanish plaster and white oak floors.

“You drive down Lake Drive in Milwaukee and you’re just in awe of these beautiful homes from a bygone era from all the people who built Milwaukee,” Powers said.

The UWM Real Estate Foundation purchased the home for $955,000 in 2012 and transferred it to UW-Milwaukee. Powers also represented the private foundation in the sale.

Powers said a prospective buyer has already submitted an offer but the listing is still active.

“Whoever buys [the house], they are going to be very lucky,” Powers said.

Wisconsin colleges and universities face financial hurdles

The university’s decision to sell the house parallels recent efforts to “divest itself of other properties” to reduce costs. In recent years, UW-Milwaukee sold its former Alumni House, demolished a building used for storage and permanently closed a residence hall. The university also plans to demolish its old chemistry building.

Colleges and universities around Wisconsin are facing fiscal challenges. Leaders of some universities attribute financial hardships to declining enrollment, the fallout from the COVID-19 pandemic and inflation.

Ten out of 13 UW campuses entered the new fiscal year with structural deficits. UW-Oshkosh announced it plans to cut around 200 staff positions. UW-Parkside and UW-Platteville announced they are considering furloughs.

UW-Green Bay will suspend in-person classes at its Marinette County campus when the spring semester ends. In-person classes will end at UW-Milwaukee at Washington County and UW-Oshkosh, Fond du Lac in June.

The UW Board of Regents approved the first residential tuition increase in a decade last spring. Rates went up around 5 percent for undergraduates from Wisconsin, which is expected to generate around $38 million for the UW system annually.

Private universities are at risk, too. Marquette University plans to cut the annual operating budget by $31 million in six years. Leaders of Northland College, a private environmental college in Ashland, said the school will close unless it raises $12 million by April 3. St. Norbert College, a private college in DePere, announced it would lay off a dozen faculty members. Concordia University in suburban Milwaukee will likely cut staff.