5301 CHICAGO AVE MINNEAPOLIS MN 55417

PID: 1402824340183

Property Overview

Parcel ID1402824340183

Lot Size17,201 sq ft (0.395 ac)

Lot Dimensions (est.)123 ft wide × 140 ft deep

Year Built1969

Property ClassAPARTMENT

Owner5301 CHICAGO AVENUE LLC

Assessed Value$1,976,000

Land Value$311,400

Building Value$1,664,600

Annual Tax$37,380

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Hale · Minneapolis

Median reported rent1,991/mo

Renter-occupied11.2%

Median home value$420K

Vacancy rate5.4%

ACS rents reflect current tenant leases and may differ from new market rents.

Source: 2022 ACS 5-Year Estimates · Census Tract 117.03

Market Snapshot

Zip code 55417

Median sale price$371K-4.4% YoY

Median price / sqft$244/sqft

Median days to close34 days

Active listings28

Source: Redfin Data Center (Invalid Date) · Zip 55417

Zoning

RM1Residence Goods and Services

Residential Mixed-Use 1 — low-density mixed residential

Typical Uses

·Apartments
·Townhomes
·Neighborhood-scale retail on ground floor

Max Height45 ft

Development Potential

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)10 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width108 ft

Buildable depth100 ft

Area~10,352 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Likely Infeasible

Back-of-envelope estimate based on 3-story wood frame (5–12 units) benchmarks for 10,352 sqft buildable area.

Est. units

Yield on cost

4.2%

Spread

-1.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5313 CHICAGO AVE MINNEAPOLIS MN 55417	RENE & CAROL J DE LOS REYES	RESIDENTIAL-TWO UNIT	$374,500	90 ft
5317 CHICAGO AVE MINNEAPOLIS MN 55417	NANCY & GREGG HEDLUND	RESIDENTIAL-TWO UNIT	$405,300	130 ft
5306 ELLIOT AVE MINNEAPOLIS MN 55417	A STEVENS & N STEVENS	RESIDENTIAL	$373,300	137 ft
5300 ELLIOT AVE MINNEAPOLIS MN 55417	T W BURKHART & A F BURKHART	RESIDENTIAL	$514,000	142 ft
5308 ELLIOT AVE MINNEAPOLIS MN 55417	JAY M KATZENBERGER	RESIDENTIAL	$366,600	145 ft
5255 CHICAGO AVE MINNEAPOLIS MN 55417	PMU RENTALS LLC	COMMERCIAL-PREFERRED	$296,000	146 ft
5312 ELLIOT AVE MINNEAPOLIS MN 55417	STEVEN S SOUCHTCHENKO	RESIDENTIAL	$366,100	163 ft
5321 CHICAGO AVE MINNEAPOLIS MN 55417	RANDALL M EGAN	RESIDENTIAL-TWO UNIT	$406,500	170 ft
5253 CHICAGO AVE MINNEAPOLIS MN 55417	CLASSIC TKD LEGACY LLC	COMMERCIAL-PREFERRED	$440,000	176 ft
5316 ELLIOT AVE MINNEAPOLIS MN 55417	LISA A OLSON	RESIDENTIAL	$436,400	188 ft

Property History

Most Recent Sale

Date202108

Price$896,539

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$37,380