I invest in the City of Milwaukee but now live in Chicago. What I say below applies to the City of Milwaukee and not the suburbs (each are very different stories). I definitely believe the City of Milwaukee is on the rise but is an economy that is slowly transitioning from an industrial economy to a global economy. This transition is reflected in the geography of the real estate--although it is changing as the economy changes. The city used to not be a desireable place to live and to some people and generations it is still seen as that. The areas that were reliant on an industrial economy and have yet to change are still hurting. If they are connected to the emerging global economy (where talent and education matter) then these areas are rising (most neighbohoods along the lake from Bayview to Shorewood). MIlwaukee has a building boom going on downtown that is unrivaled in its history and offers a lot of hope for a strong downtown core and the neighborhoods due north (lower and upper Eastside/Brewers Hill/Riverwest)and south (from Bayview up to the Third Ward along the lake). This is starting to spread slowly beyond these neighborhoods but it is slow going presently. Its architecture and housing in areas is phenomenal and dense. Its lakefront is appealing to many and the city leadership continues to make positive moves to build up this core. Moving West, South, or Northwest of its core is where you run into a lot of variability. If those are your areas to invest, you can get great deals but you need to talk to locals and get your own feet on the ground. I personally have looked at many places in some neighborhoods but have never felt comfortable enough or confident enough to invest there. Schedule a visit when there is a BP meet-up--most frequent posters on BP from Milwaukee are pretty knowledgeable locals . I know a lot of people seem to invest from a far lately in Milwaukee but I would not do it without finding a local partnership. Good luck!
