Ely, MN 55731

$230,000
Property Type: Commercial Bedrooms: 1 Baths: 2 Square Footage: 3,030 Lot Size (sq. ft.): 3,049 Status: Active
Current Price: $230,000 List Date: 6/29/2026 Last Modified: 6/29/2026

Overview

Description

Excellent commercial space opportunity conveniently located on Chapman Street in Ely! This versatile property offers endless possibilities for an owner-occupant or investor. The main level features an open, flexible floor plan that is ideal for retail, professional office space, a boutique, studio, or a variety of other business uses. Upstairs, you'll find a spacious one-bedroom apartment with its own private rear entrance, a large rooftop deck, and convenient off-street parking. Live where you work, generate rental income, or lease both levels for maximum investment potential. A unique property offering flexibility, income-producing possibilities, and a prime Chapman Street location.

Listing Details MLS# 7100496

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
3
Owner Occupied
No
Waterfront YN
No
Year Built
1900
Yearly/Seasonal
Yearly
Zoning
Business/Commercial
Foundation Size
1005
Power Company
City of Ely
For Sale or Lease
For Sale
Acres
0.07
Lot Dimensions
25x125
Assessment Pending
Yes
Garage Stalls
0

Property Features

Accessible: None Basement: Full; Storage Space; Unfinished CMU Style: Office; Other Construction Status: Previously Owned Current Use: Vacant Exterior: Metal; Wood Flooring: Carpet; Luxury Vinyl Tile Foundation: Brick/Mortar; Concrete Block; Poured Concrete Fuel: Electric; Propane Heating: Forced Air Internet Options: Cable; DSL; Fiber Optic; Satellite Location Description: Downtown On Site Utilities: Electric Common; Electric Separate; Heating Separate; Hot Water Separate Parking Characteristics: Parking Lot; Paved Lot; Uncovered/Open Pool Description: None Potential Use: Income; Lounge/Bar; Office; Other; Professional; Retail; Wholesale Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Metal; Rubber Sewer: City Sewer/Connected Stories: Two Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
230000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

Postal City
Ely
County
St. Louis
State
MN
Zip Code
55731
Complex/Dev/Subdivision
Ely

Assessments

Assessment Balance
175
Assessment Installment
175
Tax With Assessments
3478

Basement

Foundation Dimensions
45.7x22
Full
Yes
Storage Space
Yes
Unfinished
Yes

More Information

Building Information

Building Finished SqFt
2010
Building SqFt
3030
Ceiling Height
8-10

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Sale Options

Sale Includes
Building

Unit 1

Unit Number
Yes
Half Baths
Yes
Total Bathrooms
Yes
Total Rooms
7
Level
Main Level
Unit Total SqFt
1005
Leased?
No
No. of 1 Bedroom Units
Yes

Unit 2

Full Baths
Yes
Leased?
No
Level
2nd Level
Total Bathrooms
Yes
Total Bedrooms
Yes
Total Rooms
5
Unit Number
2
Unit Total SqFt
800

Unit Details

Total Units
2

Office/Member Info

Association
SPAAR

Location, Tax and Other Information

Legal Description
E 1 FT OF LOT 8 & ALL OF LOT 9
Listing City
Ely
Map Page
999
Municipality
Ely
School District
Ely
School District Phone
218-365-6166
Zip Plus 4
8111
Property ID Number
030001001770
Tax Year
2026
Tax Amount
3303
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Excellent commercial space opportunity conveniently located on Chapman Street in Ely! This versatile property offers endless possibilities for an owner-occupant or investor. The main level features an open, flexible floor plan that is ideal for retail, professional office space, a boutique, studio, or a variety of other business uses. Upstairs, you'll find a spacious one-bedroom apartment with its own private rear entrance, a large rooftop deck, and convenient off-street parking. Live where you work, generate rental income, or lease both levels for maximum investment potential. A unique property offering flexibility, income-producing possibilities, and a prime Chapman Street location.
Directions
Sheridan Street to E Chapman Street

Accessible

None
Yes

Construction Status

Previously Owned
Yes

Exterior

Metal
Yes
Wood
Yes

Flooring

Carpet
Yes
Luxury Vinyl Tile
Yes

Foundation

Brick/Mortar
Yes
Concrete Block
Yes
Poured Concrete
Yes

Fuel

Electric
Yes
Propane
Yes

Heating

Forced Air
Yes

Internet Options

Cable
Yes
DSL
Yes
Fiber Optic
Yes
Satellite
Yes

Parking Characteristics

Garage Dimensions
No
Parking Lot
Yes
Paved Lot
Yes
Uncovered/Open
Yes

Patio, Porch and Deck Features

Deck
Yes
Patio
Yes
Rear Porch
Yes

Pool Description

None
Yes

Road Frontage

City Street
Yes

Road Responsibility

Public Maintained Road
Yes

Roof

Metal
Yes
Rubber
Yes

Sewer

City Sewer/Connected
Yes

Stories

Two
Yes

Water

City Water/Connected
Yes

No. of Ranges

One
Yes

No. of Refrigerators

One
Yes

On Site Utilities

Electric Common
Yes
Electric Separate
Yes
Heating Separate
Yes
Hot Water Separate
Yes

CMU Style

Office
Yes
Other
Yes

Current Use

Vacant
Yes

Location Description

Downtown
Yes

Potential Use

Income
Yes
Lounge/Bar
Yes
Office
Yes
Other
Yes
Professional
Yes
Retail
Yes
Wholesale
Yes
IDX
Listing Office: Z'Up North Realty, Inc.
Last Updated: June - 29 - 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.
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