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CBD Conversion Opportunity | Historic Asset 10 S 5th St 227,211 SF Office Building Online Auction Sale Minneapolis, MN 55402
Investment Highlights
- Investors and developers should consider this premier office property located in the Minneapolis CBD, which offers potential for conversion.
- Positioned steps away from the bustling entertainment and employment hub of Minneapolis, offering proximity to over 216,000 jobs.
- Shovel-ready opportunity with entitlements already secured and approved, and Historic Tax Credit potential to enhance the property.
- Conveniently located just off Interstate 394 and in proximity to light rail stations, this property offers easy commuting within the Twin Cities.
- Lumber Exchange Building stands as a premier historic asset, allowing buyers to own an iconic piece of Minneapolis history.
Executive Summary
Jones Lang LaSalle Americas, Inc. ("JLL"), a licensed real estate broker, is pleased to present the Lumber Exchange Building, an iconic and legacy Minneapolis fixture. The Lumber Exchange Building represents a dynamic project offering with maximum optionality for investors. The historic building offers an irreplaceable office asset with flexible unit layouts and potential for a creative office value-enhancement execution or an adaptive-reuse residential conversion utilizing historic tax credit funding.
Originally constructed in 1885, the Lumber Exchange stands as the oldest skyscraper in the Minneapolis skyline, further endorsing its historic significance. The building's strategic positioning offers exceptional flexibility, with two accretive business models that support either conversion or continued operation as creative office space, maximizing potential return pathways.
Located in Minneapolis’ Central Business District, the project boasts adjacent proximity to major employers, entertainment, and transit options. Minneapolis-St. Paul has one of the largest concentrations of Fortune 1000s in the world. The region is home to numerous international headquarters, American headquarters for foreign firms, and substantial office operations for firms that are headquartered on either coast. Safe and abundant food, clean water, and health solutions will drive the global economy in the coming years. Minneapolis-St. Paul is the leader in these technologies and industries, and has the R&D, financial, and business services infrastructure to support them. Heralded as the Silicon Valley of Water, innovative companies like Ecolab, Pentair, and GE are investing in R&D to ensure clean and abundant water for the globe. Among both the private and public sectors, Minneapolis-St. Paul is a leader in biotechnology and medical innovation.
The property's adaptable investment strategy presents buyers with the opportunity in Downtown Minneapolis, with pre-secured redevelopment approvals and available office inventory creating immediate revenue potential.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Originally constructed in 1885, the Lumber Exchange stands as the oldest skyscraper in the Minneapolis skyline, further endorsing its historic significance. The building's strategic positioning offers exceptional flexibility, with two accretive business models that support either conversion or continued operation as creative office space, maximizing potential return pathways.
Located in Minneapolis’ Central Business District, the project boasts adjacent proximity to major employers, entertainment, and transit options. Minneapolis-St. Paul has one of the largest concentrations of Fortune 1000s in the world. The region is home to numerous international headquarters, American headquarters for foreign firms, and substantial office operations for firms that are headquartered on either coast. Safe and abundant food, clean water, and health solutions will drive the global economy in the coming years. Minneapolis-St. Paul is the leader in these technologies and industries, and has the R&D, financial, and business services infrastructure to support them. Heralded as the Silicon Valley of Water, innovative companies like Ecolab, Pentair, and GE are investing in R&D to ensure clean and abundant water for the globe. Among both the private and public sectors, Minneapolis-St. Paul is a leader in biotechnology and medical innovation.
The property's adaptable investment strategy presents buyers with the opportunity in Downtown Minneapolis, with pre-secured redevelopment approvals and available office inventory creating immediate revenue potential.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Building Size
227,211 SF
Building Class
B
Year Built
1885
Tenancy
Multiple
Building Height
12 Stories
Typical Floor Size
18,934 SF
Building FAR
8.41
Lot Size
0.62 AC
Parcel Number
22-029-24-44-0106
Zoning
B4-2 - Downtown Business District
Parking
300 Spaces (1.32 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Skyway
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 6th Fl-Ste 615
- 301 SF
- Office
- -
- 30 Days
- 8th Fl-Ste 840
- 3,937 SF
- Office
- -
- Now
- 8th Fl-Ste 880
- 3,482 SF
- Office
- -
- Now
- 11th Fl-Ste 1100
- 8,782 SF
- Office
- Spec Suite
- Now
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 200 | 7,237 SF | Office | - | 30 Days |
| 2nd Fl-Ste 225 | 3,534 SF | Office | - | Now |
| 4th Fl-Ste 440 | 5,634 SF | Office | - | Now |
| 5th Fl-Ste 500 | 4,172 SF | Office | - | Now |
| 5th Fl-Ste 530 | 3,693 SF | Office | - | Now |
| 6th Fl-Ste 615 | 301 SF | Office | - | 30 Days |
| 6th Fl-Ste 630 | 3,792 SF | Office | - | 30 Days |
| 7th Fl-Ste 700 | 21,090 SF | Office | - | Now |
| 8th Fl-Ste 840 | 3,937 SF | Office | - | Now |
| 8th Fl-Ste 880 | 3,482 SF | Office | - | Now |
| 9th Fl-Ste 954 | 3,850 SF | Office | - | 30 Days |
| 9th Fl-Ste 990 | 3,513 SF | Office | - | Now |
| 11th Fl-Ste 1100 | 8,782 SF | Office | Spec Suite | Now |
| 11th Fl-Ste 1101 | 4,416 SF | Office | Full Build-Out | 30 Days |
2nd Fl-Ste 200
| Size |
| 7,237 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
2nd Fl-Ste 225
| Size |
| 3,534 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
4th Fl-Ste 440
| Size |
| 5,634 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
5th Fl-Ste 500
| Size |
| 4,172 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
5th Fl-Ste 530
| Size |
| 3,693 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
6th Fl-Ste 615
| Size |
| 301 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
6th Fl-Ste 630
| Size |
| 3,792 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
7th Fl-Ste 700
| Size |
| 21,090 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
8th Fl-Ste 840
| Size |
| 3,937 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
8th Fl-Ste 880
| Size |
| 3,482 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
9th Fl-Ste 954
| Size |
| 3,850 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
9th Fl-Ste 990
| Size |
| 3,513 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
11th Fl-Ste 1100
| Size |
| 8,782 SF |
| Space Use |
| Office |
| Condition |
| Spec Suite |
| Available |
| Now |
11th Fl-Ste 1101
| Size |
| 4,416 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2nd Fl-Ste 200
| Size | 7,237 SF |
| Space Use | Office |
| Condition | - |
| Available | 30 Days |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2nd Fl-Ste 225
| Size | 3,534 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
4th Fl-Ste 440
| Size | 5,634 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
5th Fl-Ste 500
| Size | 4,172 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
5th Fl-Ste 530
| Size | 3,693 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
6th Fl-Ste 630
| Size | 3,792 SF |
| Space Use | Office |
| Condition | - |
| Available | 30 Days |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
7th Fl-Ste 700
| Size | 21,090 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
9th Fl-Ste 954
| Size | 3,850 SF |
| Space Use | Office |
| Condition | - |
| Available | 30 Days |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
9th Fl-Ste 990
| Size | 3,513 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
11th Fl-Ste 1101
| Size | 4,416 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | 30 Days |
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Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (88)
Bike Score®
Very Bikeable (87)
Demographics
Demographics
1 mile
3 mile
5 mile
2024 Population
41,620
253,474
473,544
2020 Population
36,857
256,887
483,544
2029 Population
42,082
249,974
466,668
2024-2029 Projected Population Growth
1.1%
-1.4%
-1.5%
Daytime Employees
144,089
274,061
391,432
Total Businesses
7,706
22,470
34,950
Average Household Income
$106,990
$83,862
$96,021
Median Household Income
$80,214
$58,944
$69,827
Total Consumer Spending
$691.2M
$2.9B
$6.1B
Median Age
36.4
32.3
34.8
2024 Households
25,014
114,565
210,682
Percent College Degree or Above
32%
27%
29%
Average Home Value
$499,263
$405,822
$391,158
$ values in USD
Sale Advisors
Sale Advisors
Colin Ryan, Senior Managing Director - Capital Markets
Colin joined JLL in 2020 to develop the capital markets investment advisory practice and has more than 15 years of experience in commercial real estate. Colin specializes in single-tenant and multi-tenant office, industrial and medical investments. During the course of Colin’s career, he has successfully represented and closed a broad range of property types in excess of $4 billion of real estate transactions.
Joseph Peris, Senior Managing Director
Joseph brings a strong background in business partnerships, negotiation, brokerage and finance, with expertise in financial modeling to his role as Director of Development in Ryan’s North Region. He works with the mixed-use development team, focusing on office and multifamily product types, supporting current work and active pursuits. Joseph is passionate about positively impacting urban spaces through smart real estate development and his enthusiasm is contagious. He enjoys the diversity of the work and the ability to collaborate with experts across Ryan’s service areas to consider all aspects of a deal or project. Relationship-minded and results-driven, he focuses on bringing value to our customers through creative solutions.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More
Auction Contact
Victoria Quade
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 40750750
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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CBD Conversion Opportunity | Historic Asset | 10 S 5th St
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CBD Conversion Opportunity | Historic Asset | 10 S 5th St
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