Sept. 16, 2017 – Town of Polk, WI – The landscape across from the Washington County Fair Park is going to look mighty different in the coming years as the Francis and Rita Peters have sold their property to a developer.
Tom Timblin and his business partner and high school friend Mike Koepke closed on the purchase of the 80.6-acre farm on the southwest corner of Pleasant Valley Road and County Highway P.
“There are 14 lots right now,” said Timblin. “Four of them are commercial and 10 of them are multifamily.”
The town of Polk rezoned the property last year from farming to business/commercial. “With the commercial lots we’re hoping to get a gas station, convenience store and a hotel and some offices possibly,” said Timblin.
The property, dubbed Pleasant Valley Farms, is currently being marketed by Koepke and Emmer Real Estate Group.
Timblin and Koepke have been working on purchasing and developing the property for the past two years.
“We’re hoping to start development in 2018,” Timblin said. “It’s a unique property because there are a lot of moving parts. It’s got a West Bend address but the sewer and water is in the Village of Jackson and the property is located in the town of Polk.”
Timblin said he’s had conversations with potential hotel and gas station developers. He said, “Now we’re going to start talking in earnest to get quotes on the property.”
There is sewer on the property that was installed around 2002 to service the hospital and Fair Park. Timblin confirmed water “is close” on CTH P.
As far as the property is concerned, the location is wonderful according to Timblin. “It’s highly visible and the key is it’s by the on and off ramps at Pleasant Valley,” he said.
The purchase price for the property has not yet been released.
Farm photo of the original Peters homestead is courtesy Terry Becker/Ryan Lesperance. That farm was a bit further west where the Highway 45 bypass is located. This farm was eliminated when the bypass was constructed. The Peters farm that just sold is to the east of Highway 45.