714 15TH ST E MINNEAPOLIS MN 55404

PID: 2602924320107

Property Overview

Parcel ID2602924320107

Lot Size3,014 sq ft (0.069 ac)

Lot Dimensions (est.)25 ft wide × 121 ft deep

Year Built0

Property ClassVACANT LAND-APARTMENT

OwnerCHICAGO APARTMENTS LLC

Assessed Value$81,000

Land Value$81,000

Building Value$0

Annual Tax$1,539

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

Elliot Park · Minneapolis

Median reported rent965/mo

Renter-occupied70.9%

Median home value$419K

Vacancy rate9.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1054

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 width15 ft

Buildable depth81 ft

Area~1,208 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 small multifamily (2–4 units, wood frame) benchmarks for 1,208 sqft buildable area.

Est. units

Yield on cost

2.9%

Spread

-2.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
716 15TH ST E MINNEAPOLIS MN 55404	NORTH CENTRAL UNIVERSITY	LAND-COMMERCIAL	$0	26 ft
712 15TH ST E MINNEAPOLIS MN 55404	CHICAGO APARTMENTS LLC	VACANT LAND-APARTMENT	$103,700	28 ft
710 15TH ST E MINNEAPOLIS MN 55404	CHICAGO APARTMENTS LLC	VACANT LAND-APARTMENT	$64,800	54 ft
720 15TH ST E MINNEAPOLIS MN 55404	NORTH CENTRAL UNIVERSITY	LAND-COMMERCIAL	$0	65 ft
724 15TH ST E MINNEAPOLIS MN 55404	NORTH CENTRAL UNIVERSITY	LAND-COMMERCIAL	$0	117 ft
1415 PARK AVE MINNEAPOLIS MN 55404	VICTOR OGBUEHI	COMMERCIAL-PREFERRED	$465,300	129 ft
1421 PARK AVE MINNEAPOLIS MN 55404	REALTY EA LLC	COMMERCIAL-PREFERRED	$491,400	130 ft
715 14TH ST E MINNEAPOLIS MN 55404	CHDC ELLIOT LTD PARTNERSHIP	LOW INCOME RENTAL	$221,400	131 ft
709 14TH ST E MINNEAPOLIS MN 55404	ELLIOTT E CONDO OWNRS ASSN	VACANT LAND-RESIDENTIAL	$415,000	134 ft
719 14TH ST E MINNEAPOLIS MN 55404	CHDC ELLIOT LTD PTNRSHP	LOW INCOME RENTAL	$391,500	155 ft

Property History

Current Tax Year

Year2026

Tax Due$1,539