Within a federally designated Qualified Opportunity Zone — investors may qualify for capital gains deferrals via a Qualified Opportunity Fund.
HUD Opportunity Zones ↗On a Minneapolis 2040 Goods and Services Corridor — zoning supports commercial and light industrial uses.
Minneapolis Great Streets ↗Located in the Minneapolis South Green Zone — priority access to Great Streets financing, energy cost-share programs, and CPED gap financing.
Minneapolis Green Zones ↗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 ↗In an ACP50 area — a Minneapolis priority designation that increases scoring for Great Streets gap financing, Affordable Housing Trust Fund, and other CPED programs.
Minneapolis — Affordable Housing Trust Fund ↗Designated a Priority parcel in Minneapolis's Great Streets program — eligible for facade improvement grants and commercial gap financing.
Minneapolis Great Streets ↗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 ↗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 ↗Matching grants for exterior improvements to commercial buildings on eligible corridors; contact CPED for current availability.
Minneapolis — Facade Improvement Matching Grant ↗Below-market loans for commercial real estate development and rehabilitation on eligible corridors; priority given to Green Zone and ACP50 locations.
Minneapolis Great Streets — Gap Financing ↗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 ↗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 ↗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.
2 permits on record since 2010 · $120K total declared value · Most recent: Sep 2022 (commercial minor)
Goss Plumbing Inc
Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.
Phillips West · Minneapolis
ACS rents reflect current tenant leases and may differ from new market rents.
Source: 2022 ACS 5-Year Estimates · Census Tract 1260
Zip code 55404
Source: Redfin Data Center (Invalid Date) · Zip 55404
Residential Mixed-Use 3 — higher-density mixed residential
Setbacks
Estimated Buildable Footprint
Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.
Back-of-envelope estimate based on 3-story wood frame (5–12 units) benchmarks for 3,587 sqft buildable area.
| Address | Owner | Class | Assessed Value | Distance |
|---|---|---|---|---|
| 2420 CHICAGO AVE MINNEAPOLIS MN 55404 | TERRY P & ELLA A HOLLINS | RESIDENTIAL-TWO UNIT | $338,600 | 47 ft |
| 2428 CHICAGO AVE MINNEAPOLIS MN 55404 | MARCELO PEREZ & WENDY PEREZ | RESIDENTIAL-TWO UNIT | $443,400 | 49 ft |
| 2416 CHICAGO AVE MINNEAPOLIS MN 55404 | CITY HOMES ON PARK AVE HOA | COMMON AREA | $0 | 94 ft |
| 2432 CHICAGO AVE MINNEAPOLIS MN 55404 | MOLINA INVESTMENT GROUP LLC | APARTMENT | $525,000 | 97 ft |
| 2412 CHICAGO AVE MINNEAPOLIS MN 55404 | UGAS PROPERTIES LLC | RESIDENTIAL-TWO UNIT | $347,000 | 142 ft |
| 2436 CHICAGO AVE MINNEAPOLIS MN 55404 | AZZMI SABRI | RESIDENTIAL | $319,000 | 147 ft |
| 2427 COLUMBUS CT MINNEAPOLIS MN 55404 | DUANE MEYER | CONDOMINIUM | $296,000 | 160 ft |
| 2429 COLUMBUS CT MINNEAPOLIS MN 55404 | T GISI & M A Z BALLINAS | CONDOMINIUM | $325,000 | 160 ft |
| 2431 COLUMBUS CT MINNEAPOLIS MN 55404 | DAVID ASSELSTINE | CONDOMINIUM | $299,000 | 160 ft |
| 2433 COLUMBUS CT MINNEAPOLIS MN 55404 | AMANDA M MCGOVERN | CONDOMINIUM | $325,000 | 160 ft |
Most Recent Sale
Current Tax Year