$499,900
Off-Market Date: 06/18/20265538 Chicago Avenue Minneapolis, MN 55417
Pending MLS# 7089641
4 beds 4 baths 4,335 sq ft Multi-family
Details for 5538 Chicago Avenue
MLS# 7089641
Description for 5538 Chicago Avenue, Minneapolis, MN, 55417
Highest and Best offers due Sunday 6/14, 6:00 pm! Unique mixed-use property located in Diamond Lake! This beautiful stone and stucco building offers the perfect combination of residential living and income-producing commercial space, each with its own private entrance.The residential side welcomes you with a spacious living room with wood-burning fireplace. The large kitchen features abundant countertop space, ample cabinetry, stainless steel appliances, and storage. A convenient half bath completes the main level, while the impressive addition provides generous dining and family room spaces. Upstairs, you'll find four spacious bedrooms and a full bathroom. The finished lower level offers laundry and extensive storage. Outside, enjoy a fenced backyard and a detached two-car garage.The commercial side is currently occupied by long-term chiropractic and massage therapy tenant, providing established rental income. The main level includes a reception area and waiting room, four private treatment rooms and storage. The lower level expands the space with three additional massage rooms, an office, 3/4 bath and ample storage.Ideally located just steps from Todd Park and close to popular restaurants, shopping, and grocery stores, this versatile property offers endless possibilities for investors or owner-occupants in one of Minneapolis's most convenient neighborhoods.
Listing Information
Property Type: Multi-family
Status: Pending
Bedrooms: 4
Bathrooms: 4
Lot Size: 0.14 Acres
Square Feet: 4,335 sq ft
Year Built: 1948
Foundation: 1,854 sq ft
Garage: Yes
Stories: 2 Stories
Subdivision: Park Ave Terrace
Number Of Units Total: 2
County: Hennepin
Days On Market: 9
Construction Status: Previously Owned
School Information
District: 1 - Minneapolis
Additonal Room Information
Laundry: In Unit, In Basement
Interior Features
Square Footage above: 2,776 sq ft
Square Footage below: 1,559 sq ft
Basement: Finished (Livable), Concrete Block, Full
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Heating: Ductless Mini-Split, Baseboard, Fireplace, Natural Gas
Exterior / Lot Features
Garage Spaces: 2
Parking Description: Detached Garage, Garage Dimensions - 22' x 24', Garage Sq Ft - 536.0
Exterior: Brick/Stone, Stucco
Roof: Rubber, Age 8 Years or Less, Asphalt Shingles
Lot Dimensions: 50x124
Zoning: Business/Commercial,Residential-Single Family
Fencing: Wood, Full
Additional Exterior/Lot Features: Tree Coverage - Light, Public Transit (w/in 6 blks), Road Frontage - City
Driving Directions
From 35W, take Diamond Lake Rd exit and head E. R on Portland Ave. S. L on E 56th St. L on Chicago Ave. Property on LH side.
Financial Considerations
Tenant Pays: Broadband
Owner Pays: All Utilities
Gross Income: 59400
Expense: 25136
Tax/Property ID: TBD
Tax Amount: 8683
Tax Year: 2025
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: Welcome Home Productions, LLC
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
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Sales History & Tax Summary for 5538 Chicago Avenue
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 5538 Chicago Avenue
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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