5508 Chicago Avenue, Minneapolis, MN 55417

$474,900
Property Type: Multi-Family Bedrooms: 4 Baths: 2 Square Footage: 3,838 Lot Size (sq. ft.): 6,098 Status: Active
Current Price: $474,900 List Date: 4/10/2026 Last Modified: 4/20/2026

Overview

Description

Welcome to 5508 and 5510 Chicago Ave, a charming, classic all brick side by side duplex perfectly situated between Diamond Lake and Lake Nokomis. This beautiful property has timeless character with strong investment potential, making it an excellent opportunity for both homeownership and as an investment. Each unit has two bedrooms and a full bathroom, along with hardwood floors throughout. The layout of each unit is nearly identical, yet the updates and design of each space bring individuality and appeal. Separate basement areas (one side is partially finished) offer added privacy along with additional storage or potential for future use if finished to maximize space. With a fully fenced landscaped back yard and a nice cozy deck, this home offers great space to relax and enjoy the warmer months. Located just one block north of Todd Park and a few blocks from Pearl Park, this home has easy access to provide a great outdoor lifestyle while being within city limits. Occupants will also appreciate the walkable proximity to Lake Nokomis and Minnehaha Parkway, along with Kowalski’s, local shops and restaurants. The location offers convenient access to major roadways like 77, 62, and 35W and is just a short drive to the airport, making travel simple and efficient. Renting one unit will be easy because the current owner plans to stay on as a renter. You will have an opportunity to meet with the current owner before purchasing the duplex. This duplex delivers on location, character, and long term value!

Listing Details MLS# 7049824

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Owner Occupied
Yes
Waterfront Present
No
Year Built
1939
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Main Floor Total SqFt
1919
Above Ground SqFt
1919
Below Grd Total SqFt
1919
Total SqFt
3838
Foundation Size
1919
Style
(MF) Duplex Side X Side
Total Finished Sqft
2386.00
Garage Stalls
2
Lot Dimensions
124x50
Acres
0.14
Assessment Pending
No

Property Features

Accessible: None Amenities Shared: Deck Assumable Loan: Not Assumable Basement: Concrete Block; Storage Space; Unfinished Construction Status: Previously Owned Exterior: Brick/Stone Fencing: Wood Foundation: Concrete Block Fuel: Natural Gas Heating: Forced Air Laundry: In Basement Lot Description: Public Transit (w/in 6 blks); Tree Coverage - Light Pool Description: None Road Frontage: City Street; Curbs; Paved Streets; Sidewalks; Storm Sewer Road Responsibility: Public Maintained Road Roof: Asphalt Shingles Sellers Terms: Cash; Conventional; FHA; VA; Other Sewer: City Sewer/Connected Stories: One Unit 1 Amenities: Deck; Hardwood Floors; Kitchen Window; Natural Woodwork Unit 1 Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: Central Unit 1 Dining Room Description: Separate/Formal Dining Rm Unit 1 Family Room Characteristics: Main Level Unit 1 Special Search: Main Floor Bedroom; Main Floor Primary Unit 2 Amenities: Deck; Hardwood Floors; Kitchen Window; Natural Woodwork Unit 2 Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Unit 2 Bath Description: Main Floor Full Bath Unit 2 Cooling: Central Unit 2 Dining Room Description: Separate/Formal Dining Rm Unit 2 Family Room Characteristics: Main Level Unit 2 Special Search: Main Floor Bedroom Water: City Water/Connected

Contract Information

Contingency
None
Original List Price
474900
ListPrice
474900
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
5508
Street Name
Chicago
Street Suffix
Avenue
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55417
Complex/Dev/Subdivision
Park Ave Terrace

Assessments

Tax With Assessments
7524.56
Assessment Balance
0

Basement

Foundation Dimensions
28'5" x 3'5" x 23'5" x 32' x 23'5" x 3'6" x 27'7"
Concrete Block
Yes
Storage Space
Yes
Unfinished
Yes

More Information

Building Information

Finished SqFt Above Ground
1919
Finished SqFt Below Ground
467

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

DP Resource
Yes
Homestead
Yes

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Dimensions
19'3" x 19'1"
Garage Square Feet
407

Public Survey Info

Range#
24
Section#
23
Township#
28

Unit 1

Furnished?
No
Leased?
No
Level
Main Level
Unit Number
Yes
Finished SqFt
959
Full Baths
Yes
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
6

Unit 2

Furnished?
No
Leased?
No
Level
Main Level
Unit Number
2
Finished SqFt
1426
Full Baths
Yes
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
7

Unit Details

Total Units
2

Office/Member Info

Association
MAAR

Location, Tax and Other Information

Legal Description
LOT 003 BLOCK 006 PARK AVE TERRACE
Listing City
Minneapolis
Map Page
120
Municipality
Minneapolis
School District
Minneapolis
School District Phone
612-668-0000
Zip Plus 4
2446
Property ID Number
2302824220119
Tax Year
2026
Tax Amount
7524.56
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Welcome to 5508 and 5510 Chicago Ave, a charming, classic all brick side by side duplex perfectly situated between Diamond Lake and Lake Nokomis. This beautiful property has timeless character with strong investment potential, making it an excellent opportunity for both homeownership and as an investment. Each unit has two bedrooms and a full bathroom, along with hardwood floors throughout. The layout of each unit is nearly identical, yet the updates and design of each space bring individuality and appeal. Separate basement areas (one side is partially finished) offer added privacy along with additional storage or potential for future use if finished to maximize space. With a fully fenced landscaped back yard and a nice cozy deck, this home offers great space to relax and enjoy the warmer months. Located just one block north of Todd Park and a few blocks from Pearl Park, this home has easy access to provide a great outdoor lifestyle while being within city limits. Occupants will also appreciate the walkable proximity to Lake Nokomis and Minnehaha Parkway, along with Kowalski’s, local shops and restaurants. The location offers convenient access to major roadways like 77, 62, and 35W and is just a short drive to the airport, making travel simple and efficient. Renting one unit will be easy because the current owner plans to stay on as a renter. You will have an opportunity to meet with the current owner before purchasing the duplex. This duplex delivers on location, character, and long term value!
Directions
From Cedar Ave S, turn West onto E Minnehaha Pkwy, turn South onto Chicago Ave, West to home

Accessible

None
Yes

Amenities Shared

Deck
Yes

Assumable Loan

Not Assumable
Yes

Construction Status

Previously Owned
Yes

Exterior

Brick/Stone
Yes

Fencing

Wood
Yes

Foundation

Concrete Block
Yes

Fuel

Natural Gas
Yes

Heating

Forced Air
Yes

Laundry

In Basement
Yes

Lot Description

Public Transit (w/in 6 blks)
Yes
Tree Coverage - Light
Yes

Patio, Porch and Deck Features

Deck
Yes

Pool Description

None
Yes

Road Frontage

City Street
Yes
Curbs
Yes
Paved Streets
Yes
Sidewalks
Yes
Storm Sewer
Yes

Road Responsibility

Public Maintained Road
Yes

Roof

Asphalt Shingles
Yes

Sellers Terms

Cash
Yes
Conventional
Yes
FHA
Yes
Other
Yes
VA
Yes

Sewer

City Sewer/Connected
Yes

Stories

One
Yes

Water

City Water/Connected
Yes

Income and Expenses

Annual Caretaker Expense
0
Annual Electric Expense
0
Annual Fuel Expense
0
Annual Gross Expenses
0
Annual Gross Income
0
Annual Insurance Expense
0
Annual Maintenance Expense
0
Annual Net Income
0
Annual Repair Expense
0
Annual Trash Expense
0
Annual Water/Sewer Expense
0
Misc Monthly Income
0
Misc. Annual Income
0
Total Annual Expenses
0

No. of Ranges

Two
Yes

No. of Refrigerators

Two
Yes

Unit 1 Amenities

Deck
Yes
Hardwood Floors
Yes
Kitchen Window
Yes
Natural Woodwork
Yes

Unit 1 Appliances

Dishwasher
Yes
Dryer
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Unit 1 Bath Description

Main Floor Full Bath
Yes

Unit 1 Cooling

Central
Yes

Unit 1 Dining Room Description

Separate/Formal Dining Rm
Yes

Unit 1 Family Room Characteristics

Main Level
Yes

Unit 1 Special Search

Main Floor Bedroom
Yes
Main Floor Primary
Yes

Unit 2 Amenities

Deck
Yes
Hardwood Floors
Yes
Kitchen Window
Yes
Natural Woodwork
Yes

Unit 2 Appliances

Dishwasher
Yes
Dryer
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Unit 2 Bath Description

Main Floor Full Bath
Yes

Unit 2 Cooling

Central
Yes

Unit 2 Dining Room Description

Separate/Formal Dining Rm
Yes

Unit 2 Family Room Characteristics

Main Level
Yes

Unit 2 Special Search

Main Floor Bedroom
Yes
Listing Office: RE/MAX Results
IDX
Last Updated: April - 20 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.