Acquisition Date: December 2017

Square Footage: 55,000 SF

Capitalization: $19,500,000

Construction Cost: $14,800,000

• Originally built in 1906, the building was constructed as a sugar beet processing facility by the United States Sugar Company until 1924.

• James Russell Garver purchased the building and surrounding land in 1929 and converted the building into what was then a state-of-the-art feed mill and granary. The building operated in this way for the next 60 years and was a staple of Madison’s agricultural industry.

• The City of Madison purchased the building in 1997 when operations were discontinued.The building sat vacant and its condition worsened as the City of Madison struggled to find an appropriate use and buyer until approaching Baum Revision in 2015.

• Baum Revision rehabilitated the mill into a local artisan food production facility consisting of “second-stage” businesses - a coffee roaster, kombucha brewer, sustainable community sourced fishery, an ice-cream maker, as well as a gourmet pizza parlor.

• The Mill also houses a mix of hospitality tenants who round out the tenant roster, focusing on healing, health, yoga, amongst others. The central atrium doubles as a communal space for locals as well as a private-rental event space. The building also takes advantage of adjacent outdoor patio spaces hosting an array of public art/music events and doubles as outdoor seating for the onsite businesses.

• The complex financial structuring of the deal includes historic tax credits, new markets tax credits, as well as other local and state grants and loans.

•The 2020 Historic Restoration Award, by the Wisconsin Historical Society. The Award goes to the best restoration work of a Wisconsin historic property that involves comprehensive work to restore a historic building, structure, object, or site

•The 2020 WI AIA Merit Design Award by Wisconsin Architect Magazine features the work of Wisconsin architects. AIA Wisconsin hosts an annual Design Awards competition that offers architect members of AIA Wisconsin the opportunity to submit their best work

•The 2020 Historic Preservation Award for Adaptive Reuse from the Madison Trust for Historic Preservation.

•The 2020 Commercial Development Award Best New Development or Renovation - Mixed Use: Garver Feed Mill from In Business Magazine