Built in 1928, the Terrace Homes Apartments at 114-118 N Breese Terrace are the earliest known example of cooperative living in the city of Madison. A century ago, cooperatives (or co-ops) preceded the condominium movement, and were most common in larger, urban areas like New York City.
Just like a condominium, ownership at the cooperative includes a monthly fee. At the co-op, the monthly fee covers your property taxes, your utilities (with the exception of electricity), and the ongoing care of the grounds and common space. But unlike a condo, buying into the cooperative involves the purchase of stock, not property, so there is a unique process for becoming a co-op owner.
Talk to the neighbors here, and they'll tell you that they love the vintage architecture, the craftsmanship, and the character of their home; the central location near Monroe Street, the UW Campus, and Downtown Madison; and being part of a larger community.
There are only 12 units in the entire community, so it's a rare occasion when one becomes available. We'd love to introduce you to the Terrace Homes cooperative and our new two-bedroom listing. Please contact Dan to learn more.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred