5538 Chicago Avenue Minneapolis, MN 55417

$499,900
Active
estimated monthly payment
4 Beds  |  4 Baths  |  4,335 Sq Ft  |  Other  |  MLS # 7089641
  • Unique opportunity for residential/commercial building in Diamond Lake!
    Unique opportunity for residential/commercial building in Diamond Lake!
  • Well kept landscaping and sidewalk out front
    Well kept landscaping and sidewalk out front
  • 5538 Chicago Avenue, Minneapolis, MN 55417 Listing Photo  3
  • Residential Living Room
    Residential Living Room
  • Residential
    Residential
  • Residential
    Residential
  • Residential Kitchen
    Residential Kitchen
  • Residential
    Residential
  • Residential
    Residential
  • Residential
    Residential
  • Residential
    Residential
  • Residential Dining
    Residential Dining
  • Residential Family Room
    Residential Family Room
  • Residential
    Residential
  • Residential
    Residential
  • Residential main level half bath
    Residential main level half bath
  • Residential Bed 1
    Residential Bed 1
  • Residential Bed 1
    Residential Bed 1
  • Residential Bed 2
    Residential Bed 2
  • Residential Bed 2
    Residential Bed 2
  • Residential Bed 3
    Residential Bed 3
  • Residential Bed 3
    Residential Bed 3
  • Residential Bed 4
    Residential Bed 4
  • Residential Bed 4
    Residential Bed 4
  • 5538 Chicago Avenue, Minneapolis, MN 55417 Listing Photo  25
  • Commercial Entrance
    Commercial Entrance
  • Commercial
    Commercial
  • Commercial
    Commercial
  • Commercial Reception and Desk area
    Commercial Reception and Desk area
  • Commercial Room 1
    Commercial Room 1
  • Commercial Room 2
    Commercial Room 2
  • Commercial half bath
    Commercial half bath
  • Commercial Room 3
    Commercial Room 3
  • Commercial Lower Level Massage waiting area
    Commercial Lower Level Massage waiting area
  • Commercial Lower Level Massage Room 1
    Commercial Lower Level Massage Room 1
  • Commercial Lower Level Massage Room 2
    Commercial Lower Level Massage Room 2
  • Commercial Lower Level 3/4 Bathroom
    Commercial Lower Level 3/4 Bathroom
  • Residential Fenced Backyard (currently used as a garden)
    Residential Fenced Backyard (currently used as a garden)
  • Residential detached 2 car Garage
    Residential detached 2 car Garage
  • Floor 1.jpg
    Floor 1.jpg
  • Floor 2.jpg
    Floor 2.jpg
  • Floor 3.jpg
    Floor 3.jpg

About The Listing

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 courtesy of Welcome Home Co., Welcome Home Productions, LLC
Purchase Price
Loan Type
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Interest Rate
Estimated Property Taxes
Homeowner's Insurance
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Property Details

Features

 
 
 
Property Type: Other
Status: Active
Contingency Type: None
Year Built: 1948
MLS #: 7089641
Bedrooms: 4
Square Feet: 4,335
Price Per Square Foot: $115
Garage Spaces: 2
Parking Description: Detached Garage
Sewer Description: City Sewer/Connected
Water: City Water/Connected
Heat Type: Baseboard, Ductless Mini-Split, Fireplace(s)
Basement: Block, Finished, Full
Foundation Type: Block
Roof Description: Age 8 Years or Less, Asphalt, Rubber
Days On Market (Continuous): 0
Disability Features: None
Latest Update: 06/11/2026
List Date: 06/09/2026
Listing Agent ID: 503502453
Listing Office: Welcome Home Productions, LLC
Listing Office ID: 80316
Data Source: NorthstarMLS - The Regional MLS of Minnesota
Laundry Features: In Basement, In Unit
Exterior Features: Stone, Stucco
Fence: Full, Wood
Lot Dimensions: 50x124
Lot Size: 0.14 Acres
Pool Description: None
Lot Features: Public Transit (w/in 6 blks), Tree Coverage - Light
School District: Minneapolis
Tax Year: 2025
Estimated Taxes: $8,683
Contingency Type: None
City: Minneapolis
Zip: 55417
County: Hennepin
Subdivision: Park Ave Terrace
State: MN
Listing last updated: 06/11/26

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