Date
Details
Price
Change
Source
6/09/2026
Listed
$499,900
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
No photo available
$499,900 Just Listed
Property Description
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
Full Property Details for 5538 Chicago Ave
General
- Price: $499,900
- Taxes: $8,683 (2025)
- Status: Active
- Type: Townhouse
- Source: NorthStarMLS_RMLS
- MLS ID: 7089641
- Updated: Today (6/9/2026)
- Added to Site: Today
Rooms
Bathrooms
- Total Bathrooms: 4
Bedrooms
- Total Bedrooms: 4
Other Rooms
- Laundry: In Basement, In Unit, In Basement, In Unit
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
- Heating Type: Baseboard, Ductless Mini-Split, Fireplace(s)
- Heating Fuel: Natural Gas
Utilities
- Sewer: City Sewer Connected
- Water: City Water (Connected)
Structural Information
- Basement: Yes
- Finished basement: Yes
- Basement Desc.: Block, Finished, Full
- Foundation Size: 1854
- Roof: Age 8 Years or Less, Asphalt, Rubber
- Disability Access: None
- Square Feet: 4,335
- Above Ground: 2,776 Sq. Ft.
- Below Ground: 1,854 Sq. Ft.
- Finished Down/Base.: 4,630 Sq. Ft.
- 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: $8,683
- Tax Year: 2025
- Terms: Conventional, Cash
- Owner Pays: All Utilities
- Tenant Pays: Broadband
Disclosures and Reports
- Legal Description: LOT 010 BLOCK 006 PARK AVE TERRACE
Listed by Welcome Home Productions, LLC
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— 5538 Chicago Ave —
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NMLS#: 1598647
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Schools
Schools serving 5538 Chicago Ave
School District:Minneapolis Public School District
| Name | Grades | Distance |
|---|---|---|
Hale Elementary School 5330 13th Avenue South, Minneapolis, MN 55417 | K-2 | 0.4 mi |
Field Elementary School 4645 4th Avenue South, Minneapolis, MN 55419 | 3-5 | 1.2 mi |
Justice Page Middle School 1 West 49th Street, Minneapolis, MN 55419 | 6-8 | 1.1 mi |
Washburn Senior High School 201 West 49th Street, Minneapolis, MN 55419 | 9-12 | 1.2 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 5538 Chicago Ave
Estimate the Cost
Estimate the Cost for 5538 Chicago Ave
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- Commercial
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Sold by Compass
5538 Chicago Avenue, Minneapolis, MN 55417 (MLS# 7089641) is a Townhouse property with 4 bedrooms and 0 full bathrooms. 5538 Chicago Avenue is currently listed for $499,900 and was received on June 09, 2026. Want to learn more about 5538 Chicago Avenue? Do you have questions about finding other Townhouse real estate for sale in Minneapolis? You can browse all Minneapolis real estate or contact a Coldwell Banker agent to request more information.