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$499,900

  • For Sale
  • Active
  • Commercial
  • 4,630 Sq. Ft.
  • 0.14 Acres
  • Updated 4 days ago
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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.

Full Property Details for 5536 Chicago Ave

General

  • Price: $499,900
  • Taxes: $9,067 (2026)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 7086283
  • Updated: 6/13/2026
  • Added to Site: 11 day(s) ago

Interior

  • Appliances: Dishwasher, Dryer, Range, Refrigerator, Washer

Rooms

Bathrooms

  • Total Bathrooms: 4

Bedrooms

  • Total Bedrooms: 4

Additional Information

  • Amenities: Hardwood Floors, Kitchen Center Island, Kitchen Window, In-Ground Sprinkler

Parking

  • Garage: Yes
  • Garage Description: 22' x 24'
  • Garage Spaces: 2
  • Parking Features: Detached Garage

Location

  • County: Hennepin
  • Township: Minneapolis
  • Subdivision: Park Ave Terrace
  • Neighborhood: 17
  • 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.

School Information

  • School District: 1 - Minneapolis
  • High School District: Minneapolis

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central Air, Ductless Mini-Split
  • Heating Type: Baseboard, Ductless Mini-Split, Fireplace(s)
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Electric Common, Heating Common, Hot Water Common

Structural Information

  • Basement: Yes
  • Finished basement: Yes
  • Basement Desc.: Full, Partially Finished
  • Foundation Size: 1854
  • Roof: Age 8 Years or Less, Asphalt, Rubber
  • Disability Access: None
  • Square Feet: 4,630
  • Finished Down/Base.: 4,630 Sq. Ft.
  • Current Bldg. Use: Professional/Office, Residential
  • Year Built: 1948

Unit Information

  • Units w/Refrigerators: 2

Lot Features

  • Lot Size (Acres): 0.14
  • Lot Dimensions: 50 x 124
  • Frontage: City Street
  • Zoning: Business/Commercial, Residential-Single Family
  • Lot Description: Public Transit (w/in 6 blks), Light Tree Coverage
  • Fencing (Description): Full, Wood

Financial Considerations

  • Operating Expenses: $25,136
  • Tax Amount: $9,067
  • Tax Year: 2026
  • Terms: Conventional, Cash
  • Owner Pays: All Utilities
  • Tenant Pays: Broadband

Disclosures and Reports

  • Legal Description: LOT 010 BLOCK 006 PARK AVE TERRACE
  • Inclusions: Building, Land
  • Property ID: 2302824220126

Listed by Welcome Home Productions, LLC

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Listing agents

— 5536 Chicago Ave —

  • Welcome Home Productions, LLC

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 5536 Chicago Ave

School District:Minneapolis Public School District
NameGradesDistance
Hale Elementary School
5330 13th Avenue South, Minneapolis, MN 55417
K-20.4 mi
Field Elementary School
4645 4th Avenue South, Minneapolis, MN 55419
3-51.2 mi
Justice Page Middle School
1 West 49th Street, Minneapolis, MN 55419
6-81.1 mi
Washburn Senior High School
201 West 49th Street, Minneapolis, MN 55419
9-121.2 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 5536 Chicago Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
6/06/2026
Listed
$499,900
66.63%
MLS
11/09/2018
Sold
$300,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 5536 Chicago Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$8,683
13%
$438,000
104%
2023
$7,672
7%
$214,500
10%
2023
$7,138
—
$195,000
13%
2023
$7,138
21%
$173,000
-44%
2020
$5,914
-3%
$308,000
—
2019
$6,085
11%
$308,000
10%
2018
$5,483
-15%
$280,000
-5%
2017
$6,420
-5%
$294,000
5%
2016
$6,742
-5%
$280,000
—
2015
$7,084
-5%
$280,000
—
2014
$7,469
—
$280,000
—
2013
$7,449
—
$280,000
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Welcome Home Productions, LLC

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5536 Chicago Avenue, Minneapolis, MN 55417 (MLS# 7086283) is a Commercial property. 5536 Chicago Avenue is currently listed for $499,900 and was received on June 06, 2026. Want to learn more about 5536 Chicago Avenue? Do you have questions about finding other Commercial real estate for sale in Minneapolis? You can browse all Minneapolis real estate or contact a Coldwell Banker agent to request more information.

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