Historic Corner
For Sale
$240,000
145 E Chapman St, Ely, MN 55731
COMMERCIAL/INDUSTRIAL, Ely, MN
Property Size5,000 SF
Price / SF$48
Days on Market88
Property Features for 145 E Chapman St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Com
Lot features
Corner Lot, Downtown Area
Subdivision
Ely/Winton
Standard status
Active
Utilities
Cooling system
Central Air
Building Details
Building materials
Wood Frame
Roof type
Rubber
Listing Agency:
Ely Realty
(218) 365-2100
Listed By:
Jan Erchul
(218) 349-0515
Added: Jul 10
Changed: Sep 7
Last Checked: Oct 5 at 7:06PM
MLS# 149947
Copyright © 2026 Range Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,000-square-foot storefront property dates to 1920 and is arranged into four separate leasing areas. The front portion of the main floor retains original tin ceilings and wood flooring, while other main-floor and second-floor areas are occupied by the building owners for their existing business. Central air serves the building, which has wood-frame construction and a rubber roof.
The property occupies a corner position in downtown Ely and is zoned Com. Major capital improvements include a replacement roof completed in 2023 and a new fuel oil boiler installed in 2021. The building operated as a clothing store for more than 30 years, providing an established commercial setting for a new owner or occupant.
The property occupies a corner position in downtown Ely and is zoned Com. Major capital improvements include a replacement roof completed in 2023 and a new fuel oil boiler installed in 2021. The building operated as a clothing store for more than 30 years, providing an established commercial setting for a new owner or occupant.
Key Highlights
- 5,000‑square‑foot commercial building constructed in 1920
- Four separate leasing areas across the building
- Corner location in downtown Ely
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55731, MN
5,494
Population
4,954
Households
1.1
Avg Household Size
54
Median Age
41%
College-Educated
94%
High-School Grad
1,606.7 sq mi
ZIP Area
3
Density / Sq Mi
$62,900
Median Household Income
$31,840
Median Earnings
$641
Median Rent
$202,900
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Downtown commercial building with flexible leasing areas, central air, and updated major building systems.
Where is this storefront property located?
The property is located at 145 E Chapman St Ely, MN.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 5,000‑square‑foot commercial building constructed in 1920; Four separate leasing areas across the building; Corner location in downtown Ely
