An abandoned warehouse still bearing signage for Milum Textile Services on 7th Avenue in downtown Phoenix finally found a buyer.
Chicago-based investor JRG Capital Partners bought the property, which sits on 1.76 acres and includes multiple buildings, for $8.5 million on Sept. 17 from longtime owner Craig Milum.
Milum tried to sell the building for years but was caught in a fight with the city over the historic value of the building and whether it could be demolished. The city considered it architecturally significant for its Streamline Moderne-style design and use of multiple lamella roofs.
Early last year the city’s Historic Preservation Commission voted unanimously to uphold a previous decision against demolition of the entire property, but later in the year, City Council reversed that by rejecting a historic overlay on the site.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
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