Historic Downtown Storefront
For Sale
$275,000
145 E Chapman St, Ely, MN 55731
COMMERCIAL - Ely, MN
Property Size5,000 SF
Price / SF$55
Days on Market41
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: Aug 19
Last Checked: Aug 19 at 9:06PM
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.
The real estate comprises a 5,000-square-foot wood-frame storefront building constructed in 1920. Four separate leasing areas provide distinct commercial spaces, including a front area on the main floor with original tin ceilings and wood flooring. Additional main-floor and second-floor areas are occupied by the owners for their existing business. The sale includes the real estate only.
Positioned on a downtown corner in Ely, the building carries Com zoning and includes central air conditioning. Major building improvements include a rubber roof installed in 2023 and a fuel oil boiler added in 2021. The property previously operated as a clothing store for more than 30 years.
Positioned on a downtown corner in Ely, the building carries Com zoning and includes central air conditioning. Major building improvements include a rubber roof installed in 2023 and a fuel oil boiler added in 2021. The property previously operated as a clothing store for more than 30 years.
Key Highlights
- 5,000‑square‑foot wood‑frame commercial building constructed in 1920
- Four separate leasing areas across the main and second floors
- Main‑floor front space retains original tin ceilings and wood floors
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Corner commercial building with central air, a rubber roof, and multiple leasing areas.
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 $275,000.
What are key features of this property?
This property features: 5,000‑square‑foot wood‑frame commercial building constructed in 1920; Four separate leasing areas across the main and second floors; Main‑floor front space retains original tin ceilings and wood floors
