Negotiations are underway for the city of Madison to purchase 3.5 acres of land along Lake Monona where the Wisconsin Medical Society headquarters sits. A resolution was introduced during the Madison Common Council meeting on Tuesday to purchase the property from the Society for $5.5 million, on the condition that it be used for parkland.
In 1996, the Society sold another parcel of land along the lakefront to the city, also granting right of first refusal for the remaining property in the event the Society decided to sell.
“There’s no question this site is a real treasure, and the building is far larger than we need today,” said Society CEO Clyde “Bud” Chumbley, MD, MBA. “Our Board of Directors agreed that the timing is right to work with the city to restore it to parkland so that everyone is able to benefit from it.”
Before the sale is finalized, the resolution must be referred to the parks committee and voted on by the City Council. Doctor Chumbley anticipates that the sale could close as early as February, but that Society operations would not move until summer. A committee comprised of Society members and staff are currently exploring options in the Madison area for the Society’s new headquarters.
“We’re definitely going to miss the beautiful view, but we’re glad that as part of the Society’s ongoing legacy, the property will accrue to the benefit of the citizens of Madison and its visitors,” Dr. Chumbley added.
Back to January 10, 2019 Medigram