5529 CHICAGO AVE MINNEAPOLIS MN 55417

PID: 2302824210074

Property Overview

Parcel ID2302824210074

Lot Size6,061 sq ft (0.139 ac)

Lot Dimensions (est.)122 ft wide × 50 ft deep

Year Built1942

Property ClassRESIDENTIAL-TWO UNIT

OwnerT & J SALHUS

Assessed Value$494,400

Land Value$160,000

Building Value$334,400

Annual Tax$7,595

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Goods and Services CorridorHigh

On a Minneapolis 2040 Goods and Services Corridor — zoning supports commercial and light industrial uses.

Minneapolis Great Streets ↗

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Great Streets Façade Improvement ProgramMedium

Matching grants for exterior improvements to commercial buildings on eligible corridors; contact CPED for current availability.

Minneapolis — Facade Improvement Matching Grant ↗

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

Environmental Response FundMedium

Grants and loans for contamination assessment and cleanup on eligible redevelopment sites; does not indicate known contamination.

Minneapolis — Brownfield Grants ↗

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

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Diamond Lake · Minneapolis

Median reported rent1,798/mo

Renter-occupied6.8%

Median home value$416K

Vacancy rate0.8%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 117.04

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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width40 ft

Buildable depth81 ft

Area~3,247 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 3,247 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5533 CHICAGO AVE MINNEAPOLIS MN 55417	KRISTI COONEY LLC	RESIDENTIAL-TWO UNIT	$490,200	50 ft
5525 CHICAGO AVE MINNEAPOLIS MN 55417	MORGAN THERESA WHITMAN	RESIDENTIAL-TWO UNIT	$436,500	50 ft
5521 CHICAGO AVE MINNEAPOLIS MN 55417	T R LARSEN TRUST ET AL	RESIDENTIAL-TWO UNIT	$432,700	100 ft
5528 ELLIOT AVE MINNEAPOLIS MN 55417	JESSICA C RICHARDSON	RESIDENTIAL	$535,200	135 ft
5532 ELLIOT AVE MINNEAPOLIS MN 55417	MARK KANGAS & SARAH KANGAS	RESIDENTIAL	$504,100	143 ft
5524 ELLIOT AVE MINNEAPOLIS MN 55417	DAVID A SHATILA	RESIDENTIAL	$458,300	145 ft
5517 CHICAGO AVE MINNEAPOLIS MN 55417	THE URBAN REFUGE CHURCH	COMMERCIAL-PREFERRED	$0	150 ft
5545 CHICAGO AVE MINNEAPOLIS MN 55417	LINDA ANN TORKELSON	CONDOMINIUM	$195,800	154 ft
5545 CHICAGO AVE MINNEAPOLIS MN 55417	M E COMEAUX & E TORTORICH	CONDOMINIUM	$169,100	154 ft
5545 CHICAGO AVE MINNEAPOLIS MN 55417	JOHN WAGNER/MATTHEW WAGNER	CONDOMINIUM	$176,600	154 ft

Property History

Current Tax Year

Year2026

Tax Due$7,595