They Bought the Bank

An aerial view of the former Nicolet Bank building. Photo from Jan Ladick’s Facebook page.

Former Nicolet Bank building sold

Chad and Jan Ladick have purchased the former Nicolet Bank building at 217 N. 4th Ave. in downtown Sturgeon Bay.

The 24,000-plus-square-foot property has been vacant for more than two years since Nicolet Bank moved to a new branch building across the street. 

Jacinda Duffin of True North Real Estate represented the buyers, and Dina Boettcher of ERA Starr Realty the seller. The property was listed for $750,000 and sold for $453,000. 

“I’m always trying to find a good deal,” said Chad, owner of Just Call Chad. “I knew at some point the bank would have to drop their price.”

The Ladicks will call the building the Door County Epicenter for Commerce and Community, and Jan described it on her Facebook page as a “fun, affordable spot.” 

The plan is to offer a coffee shop in the lobby area and for Jan to move her businesses – Door County Yoga and Door County Massage – into the space. The Ladicks then envision long- and short-term office and conference-room rentals for artists, entrepreneurs, established businesses or remote workers, plus room for a community center. The goal is to create a space with an urban feel that provides the synergy of coworker benefits from mixed-use tenants.

“Renters will kind of help define it,” Jan said.

The two-story building with a fully finished basement is move-in ready, and Chad said he expected to have signed leases as soon as this week.

“Starting July 1, they’re ready to go,” he said.

The Ladicks had been looking for a good spot for awhile. They purchased the annex behind the Blitz building hoping to use the space, but they decided to sell it instead. They also considered the former Younkers furniture building on 4th Avenue. 

“Chad was the visionary,” Jan said. “When he first said [he wanted us to buy] the bank, I said, ‘Oh, my God.’ But now it’s in motion, and this is perfect for Sturgeon Bay.”

Duffin described the Ladicks’ plan as an “innovative shared office space” that’s adapted to new models of remote work.

“I’ve had the pleasure of working with Chad and Jan on previous property acquisitions, and I’m continually impressed with their vision and work ethic,” Duffin said. “As a community member, I am thrilled for Sturgeon Bay and look forward to seeing the utility and activity this space will bring to our downtown.”