Crawford County regains ownership of Satter Building
Crawford County once again owns the Satter Building property, 111 W. Dunn Street, Prairie du Chien. The property is 2.88 acres.
By Ted Pennekamp
The Satter Building in Prairie du Chien is once again owned by Crawford County, having been foreclosed upon on Aug. 2.
County Treasurer Deanne Lutz said the county is in the process of foreclosing on several tax delinquent properties and will be sending out eviction notices.
As in the past, those properties will be sold at auction, including the Satter Building property. Lutz said no auction date has been set, but the auction will take place this year, probably in November or December. There are currently 31 properties on the list.
The Satter Building property was purchased from Crawford County for $350,000 by Prairie River Investments of Madison on Dec. 27, 2006. Since that time, the Satter Building property has gone unchanged, except for the continued deterioration of the building.
In 2006, and again in 2009, Thomas Gialamas, who was the president of Prairie River Investments, said he planned to develop the property into two separate office buildings with a combined area of 60,000 square feet. The project was to be done in phases and the completed project was estimated to cost $8 million in 2009.
“We are looking to build quality office space,” said Gialamas in 2009. “It would be a nice development for the city and would enhance revenue for the city.”
In 2009, Gialamas said tenants for 10,000 square feet of office space would be needed in order to get the project moving. Unfortunately, potential tenants may have been reluctant to expand their companies because of the down economic situation and market in 2009.
Back taxes on the Satter Building have been owed to the county since 2012 and a total of $63,061.77 was owed including back taxes, interest and penalties, according to documents from the Crawford County Treasurer’s Office.
The Satter Building is located at 111 W. Dunn Street. It sits on 2.88 acres.
Another prominent property upon which foreclosure proceedings are underway is Blackhawk Junction Mall.
Blackhawk Junction, which has owed back taxes since 2014, owes a total of $341,012.27 including back taxes, interest and penalties.
If the amount is not paid, Crawford County will become the owners of Blackhawk Junction in approximately one year and the property will be auctioned off.
If the Satter Building and Blackhawk Junction are purchased at auction, the new owners would not be responsible for any back taxes, interest or penalties.
Blackhawk Junction was purchased on Oct. 23, 2006, by Blackhawk Junction LLC of Madison, of which Thomas Gialamas was a member, having signed the purchase agreement.
Prairie River Investments and Blackhawk Junction LLC are both listed as having an address of 1001 Fourier Drive, Suite 100, Madison.
Blackhawk Junction is located at 700 E. Blackhawk Ave., Prairie du Chien, and sits on 8.37 acres.
