Mixed-Use Development Opportunity Chicago Ave S, Minneapolis
Prime development site located blocks from the Abbott Northwestern expansion.
Marketing description
MIXED-USE DEVELOPMENT OPPORTUNITY CHICAGO AVE S MINNEAPOLIS
This two parcel 0.39 acre development opportunity in the Phillips West neighborhood represents a rare, recession-resistant opportunity to deliver a mixed-use project into a "supply cliff" in Minneapolis. Strategically positioned as a housing solution for the $1.2B Abbott Northwestern expansion—set to open in late 2026—the site captures a captive, high-income medical workforce seeking modern, secure "walk-to-work" options that the neighborhood's aging stock cannot provide.
Investment highlights
Key Highlights
City of Minneapolis Approval: The seller has already worked through the approval process with the City to allow a 7 story mixed-use development on this footprint.
Strategic Mixed-Use: Potential for 40-60 units of residential plus prime ground-floor office or retail space.
Medical Infrastructure Anchor: Direct proximity to the new Abbott Northwestern Surgical and Critical Care Center ensures a permanent, high-velocity tenant base of medical residents and nursing staff.
Leaseback & Co-Development Options: The seller is open to discussing a leaseback arrangement during the planning phase or exploring co-development options.
Transit-Oriented Connectivity: Utilizes the Minneapolis 2040 Plan to reduce parking costs while sitting at the nexus of the I-35W Orange Line and the new METRO F Line BRT.
Seller is evaluating all offers and remains open to a range of structures, including a temporary leaseback, partnership arrangements, or continuing as an operator in connection with a development project.
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