Compass Properties buys Cobblery building

By:  Laura Schulte with Wausau Daily Herald

 A shoe store with a location just off The 400 Block is set to close, and the new owner plans to transform the site.

Terry Koss, co-owner of the HT Cobblery, after 36 years sold his store's building to Compass Properties, which owns a large number of the properties in downtown Wausau, including the Palladian building across the street from The Cobblery at the corner of Third Street and Jefferson Street.

The sale means The Cobblery will have to find a new home as Compass Properties takes over the building. Koss estimates he'll have 10 months to sell off inventory and determine whether or not he wants to move the business.

"If we do continue, it has to be on a smaller scale," he said. "If that doesn't work, I'm going to retire." 

Mark Craig, general manager of Compass Properties, showed renderings of the proposed development to a USA TODAY NETWORK-Wisconsin reporter. Those renderings showed two levels of apartments, likely 10 units, atop the original structure, which will house a retail store. Craig said Compass will review whether the building will be demolished or whether the original structure can be built on. 

Koss said he's been approached many times with offers to buy the building, but it wasn't until recently that he considered it. The large storefront has gotten to be too much to look after and has a high overhead cost of business. Compass's offer came at just the right time, but he hopes to see the spot become something great in the future. 

"Hopefully they do something nice with it," he said. 

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