727 15TH ST E MINNEAPOLIS MN 55404

PID: 2602924320095

Property Overview

Parcel ID2602924320095

Lot Size6,890 sq ft (0.158 ac)

Lot Dimensions (est.)52 ft wide × 133 ft deep

Year Built0

Property ClassVACANT LAND-APARTMENT

OwnerCHICAGO APARTMENTS LLC

Assessed Value$166,000

Land Value$166,000

Building Value$0

Annual Tax$3,152

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Qualified Census Tract (QCT)High

Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.

HUD — LIHTC Qualified Census Tracts ↗

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 ↗

Potential programs

LIHTC 30% Basis BoostMedium

Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.

HUD — LIHTC Qualified Census Tracts ↗

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

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Elliot Park · Minneapolis

Median reported rent1,057/mo

Renter-occupied97.1%

Median home value$341K

Vacancy rate15.4%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 59.01

Market Snapshot

Zip code 55404

Median sale price$306K+16.4% YoY

Median price / sqft$167/sqft

Median days to close92 days

Active listings57

Source: Redfin Data Center (Invalid Date) · Zip 55404

Zoning

RM3Residence and Institutional

Residential Mixed-Use 3 — higher-density mixed residential

Typical Uses

·High-density apartments
·Mixed-use buildings
·Ground-floor retail

Max Height95 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width42 ft

Buildable depth92 ft

Area~3,885 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 3,885 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

Loading map…

Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
731 15TH ST E MINNEAPOLIS MN 55404	CHICAGO APARTMENTS LLC	VACANT LAND-APARTMENT	$166,200	52 ft
1504 CHICAGO AVE MINNEAPOLIS MN 55404	CHICAGO APARTMENTS LLC	LOW INCOME RENTAL	$1,871,100	145 ft
MN	Unknown	—	—	145 ft
1500 CHICAGO AVE MINNEAPOLIS MN 55404	CHICAGO APARTMENTS LLC	LOW INCOME RENTAL	$1,871,100	150 ft
MN	Unknown	—	—	150 ft
1508 CHICAGO AVE MINNEAPOLIS MN 55404	CHICAGO APARTMENTS LLCS	LOW INCOME RENTAL	$1,158,300	160 ft
MN	Unknown	—	—	160 ft
728 15TH ST E MINNEAPOLIS MN 55404	NORTH CENTRAL UNIVERSITY	LAND-COMMERCIAL	$0	184 ft
726 15TH ST E MINNEAPOLIS MN 55404	NORTH CENTRAL UNIVERSITY	LAND-COMMERCIAL	$0	187 ft
730 15TH ST E MINNEAPOLIS MN 55404	NORTH CENTRAL UNIVERSITY	LAND-COMMERCIAL	$0	187 ft

Property History

Current Tax Year

Year2026

Tax Due$3,152