Interesting Development Deal in Cedarburg, WI

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Interesting Development Deal in Cedarburg, WI

Dave CarpenterPro Member
Investor · Cedarburg, WI · Member since 2013 · 439 posts · 150 votes

I can across a property right down the street from where I live that is interesting, but out of my area of experience. Wanted to throw it out to the community as well as get thoughts from those of you who have developed property. Here are some of the basics.

-3.4 acre lot on a small creek within a half mile of one of those cute small downtown areas. 

-Currently has an old, beat up 2000sqft house built in 1900 on part of the property. 

-Property is zoned such that you could build 5.2 houses per acre, but based on flood zone, could realistically only put a few 3-5 homes on the property.

-in a B+ or better neighborhood and in a great community with very very strong schools.

curious on ideas/interest from those of you that have development experience in Ozaukee County. 

I'd love to do something with it, but don't have the money or experience to go it alone. I live about 2 blocks away, and would be glad to have a conversation with anyone that may be more equipped for this deal. I have spoken with the selling agent and have some maps that show flood planes, etc.

Let me know what you all think!

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Sara Dunstone
Investor · Cedarburg, WI · Member since 2015 · 1 post · 1 vote
9y

Dave - I too am interested but don't have the raw land development experience to fully jump in considering the wetland and flood plain issues. I'm just up the street from you on Susan lane.  I'm touring the property later today.  I'll share what I learn.  

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  • Sara Dunstone
    Investor · Cedarburg, WI · Member since 2015 · 1 post · 1 vote
    9y

    Dave - I too am interested but don't have the raw land development experience to fully jump in considering the wetland and flood plain issues. I'm just up the street from you on Susan lane.  I'm touring the property later today.  I'll share what I learn.  

    1Reply
  • Brett Dawson
    Professional · Brecksville, OH · Member since 2017 · 43 posts · 10 votes
    9y

    At some point before you get to far if you are thinking about splitting the property, have a local engineer look at it.  Be sure they are familiar with wetland delineation and flood plans. 

    0Reply
  • Tyler Pagel
    Member since 2018 · 6 posts · 1 vote
    7y

    Dave,

    Did you end up doing this deal? I was looking for some insight on splitting up a property.

    I am purchasing a single family home in Cedarburg and would like to split up the land to build another single family home.

    Thanks,

    Tyler Pagel

    0Reply
  • Dave CarpenterPro Member
    OP
    Investor · Cedarburg, WI · Member since 2013 · 439 posts · 150 votes
    7y

    Tyler, no I didn’t. Property was bought by a family and they build a nice big custom home on it. 

    I’ll be curious to hear how your purchase and split goes!

    0Reply
  • Tyler Pagel
    Member since 2018 · 6 posts · 1 vote
    7y

    Thank you for the reply. We close in about 2 weeks and I will let you know how the land split goes. 

    Our current plan is to try to get a variance because current zoning is set for 8,500 sqft lots and the property subdivided will only be around 7,000 sqft each. Everything I read says it’s really difficult to get these variances approved, but we should have a better chance with the surrounding properties on both sides being under the zoning requirement at only 6,700 sqft lot sizes.

    0Reply
  • Charles Beyer
    Glenview, IL · Member since 2016 · 7 posts · 0 votes
    6y

    @Tyler - Any update on this?  Newer guy here also curious about splitting up land / associated issues.

    0Reply
  • Calvin OzanickBusiness Member
    Property Manager · Janesville, WI · Member since 2017 · 708 posts · 297 votes
    6y

    I would love to hear more about this. I am considering a similar deal here in Janesville, WI. There is a 4-plex situated in a nice area sitting on a 5 acre lot. Would like to build more properties on it and split off the land. 

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  • Tyler Pagel
    Member since 2018 · 6 posts · 1 vote
    6y

    Hey Calvin,

    Take a look at the current zoning requirements.  Then meet with the city planner and describe to him what you would like to do.  It will make it much easier if the city planner is on board with what you would like to do.

    In my situation I found out that a variance cannot be used to subdivide a lot. In order to subdivide this lot, I would have to convince the city to change their zoning map and allow for a smaller single family lot size than what they currently allow (very low odds this would be approved).  I would move on this option if the city planner was on board, but he said almost 0% this would be approved.  I hope this helps.


    Tyler

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  • Account Closed
    Investor · Northern MN & WI · Member since 2020 · 55 posts · 64 votes
    6y

    @Charles Beyer, I am beginning the process of subdividing some rural riverfront property. I feel like I am pretty well prepared, but this is my first time. I'd by happy to share my experience. What questions do you have?

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