Why Does Shorewood Want to Give Away a $1 Million Asset to a Private Developer?

The August 4, 2025, Village Board meeting raised important concerns. But first, a bit of background:

Spoerl Commercial LLC, founded by Brian Spoerl, has proposed developing the village-owned parking lot on North Oakland Avenue into an affordable housing project. The plan involves financial contributions or participation from various government entities.

At the meeting, the board reviewed an agenda item to approve Spoerl’s offer to purchase the property for $333,721—a figure apparently proposed by the developer without any negotiation. Final approval of the sale would be contingent on terms that have not yet been defined.

This development would displace 49 vehicles currently using the public lot. According to discussion at the meeting, these spaces are mostly used by renters, many of whom are likely lower-income. Further complicating matters, Milwaukee County is planning bus service reductions in Shorewood due to budget cuts.

During the meeting, Village President McCullough McKaig suggested that the village should consider gifting the land to Spoerl for a nominal amount—such as $1. Reactions to this idea were mixed.

During the public comment period, a resident asked if the village had obtained an appraisal for the property. The silence in response was striking. The answer was no—the property has not been valued prior to negotiating its sale. Trustee Kathy Stokebrand noted that she had previously proposed a resolution to seek an appraisal, but it was not adopted by the board.

If a publicly traded company were operating in this manner, it would likely prompt serious scrutiny—or even an internal investigation. It raises several important questions:

• How can a board sell—or give away—public land without first determining its market value?
• Why suggest gifting the property at the last minute when there's already a $333,721 offer on the table?
• If the property's true value is over $1 million, shouldn’t the village explore alternative options to maximize public benefit?

In my next post, I’ll attempt to provide a valuation of the property.

You can view the Village Board discussion of the offer to purchase starting at 1 hour and 46 minutes