Foreclosure proceedings underway for Satter Building and Blackhawk Junction
The Satter Building has been vacant since being purchased from Crawford County on Dec. 27, 2006. (Photos by Ted Pennekamp)
The western side of Blackhawk Junction has several Prairie du Chien businesses.
Several signs in the windows of former stores in the eastern part of Blackhawk Junction say that space is available.
By Ted Pennekamp
Since being purchased by Prairie River Investments of Madison on Dec. 27, 2006, the Satter Building property in Prairie du Chien 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 that 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.
The Satter Building property was purchased from Crawford County for $350,000. Foreclosure proceedings are now underway on the property. Back taxes have been owed to the county since 2012 and a total amount of $63,061.77 is owed including back taxes, interest and penalties, according to documents from the Crawford County Treasurer’s Office.
If the amount is not paid, the county will once again become the owners of the Satter Building property in approximately six months.
The Satter Building property is located at 111 W. Dunn Street. It sits on 2.88 acres.
The Blackhawk Junction Mall of Prairie du Chien 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.
Foreclosure is also underway on Blackhawk Junction, which owes back taxes since 2014. Blackhawk Junction 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 and a half years.
Blackhawk Junction is located at 700 E. Blackhawk Ave., Prairie du Chien. It sits on 8.37 acres.
If ownership of the Satter Building property and the Blackhawk Junction property reverts back to Crawford County, the county will put the properties up for auction, along with any other properties in the county which have delinquent property taxes.
If the properties are purchased at auction, the new owners would not be responsible for any back taxes, interest or penalties.
Attempts were made to contact Thomas Gialamas at Newmark Grubb Gialamas of 1001 Fourier Dr., Suite 100, Madison, via telephone and email, regarding any plans there might be for the Satter Building and the Blackhawk Junction properties. The messages were unanswered.
