Top 5 Minneapolis Condo Views Under 200k

Downtown views are not important to everyone but to many it is the very reason why purchasing a condo downtown Minneapolis is appealing.  I want to highlight 5 different Minneapolis neighborhoods and condo developments that I would recommend under $200,000.

1.    Riverwest Condos
Riverwest

 

Neighborhood: Mill District/Downtown East

Current Inventory: 11 condos with views of downtown Minneapolis

The Breakdown: The current options available in Riverwest under 200k are all 1 bedroom condos ranging from 618 sq ft- 832 sq ft.  Riverwest is a great option for both downtown skyline and striking views of the Mississippi River.  All current available units under the 200k price point are on the downtown side of the building but there are 3 options on the river side not far away in price point around the low 200’s. The location along the riverfront is hard to beat and the inventory is on the lower end of the price scale for the neighborhood.
2.    Herschel LoftsHerschel Lofts Minneapolis

Neighborhood: North Loop/Warehouse District

Current Inventory: 1 loft with views of downtown Minneapolis

The Breakdown: The Hershel Lofts is one of the few buildings in the North Loop that have views of the Minneapolis skyline under 200k.  The historic warehouse conversion is perfectly positioned for optimal views from every loft in the building. The current inventory consists of a 723 sq ft, ground floor, 1 bedroom corner unit with a large patio space, ideal for those pre-game grill outs. If you are looking for a loft style space near Target Field keep an eye on the building as more options come available.

3.    Falls/Pinnacle
pinnacle falls

Neighborhood: St. Anthony Main/NE Mpls

Current Inventory: 4 condos with downtown/neighborhood views

The Breakdown: The views from the St. Anthony Main side of the river are unique to the downtown condo market having both southern exposure and the Mississippi River in the foreground.  There is currently a mix of 1 and 2 bedroom condos available under 200k with a square footage ranging from 916-1205.  If your condo does not face directly downtown, have no worries, there is no lack of common space on the rooftop deck.

4.    Skyscape Condos
Skyscape Condos

Neighborhood: Elliot Park

Current Inventory: 2 condos for sale with southern exposure

The Breakdown: Post auction, the Skyscape Condominiums do not have many options remaining in the building under $200,000.  The units available for purchase currently are both on the sunny south side of the building positioned away from high-rises downtown.  Both are one-bedroom units ranging from 710-780 sq ft and starting at $159,900.  The views at Skyscape are split between more of a bird’s eye view of various Minneapolis neighborhoods and the central business district.  If views, proximity to the central business district and up to date amenities are important to you this would be a great option to explore.

5.    Eat Street Flats
Eat Street Flats

Neighborhood: Whittier

Current Inventory: 2 remaining condos with downtown views

The Breakdown: Located on Eat Street along the border of downtown and Uptown Minneapolis the Eat Street Flats is a 4-story new construction condominium development with retail on the 1st floor. The remaining inventory boasting downtown views start at $164,900 for a 1 bedroom condo and range between 732-736 sq ft.  The 3rd and 4th floor have unobstructed downtown views that light up like a Christmas tree at night.  The building is FHA approved and the 2 available condos have never been lived in.  This would be a great option for new construction under 200k.

south of canada

North Loop Loft Renovations: Then and Now

5 Historic Minneapolis Warehouse Renovations

Crowd of people in warehouse district

Minneapolis has gone through somewhat of a renaissance over the past decade or so. Industrial buildings and warehouses that the city was built on have been renovated and converted into amazing urban dwellings. Here’s a list of my Top 5 historic renovations in the North Loop neighborhood. 

700 Washington Avenue N

One of the tallest structures in the Warehouse District, the name Tower Lofts comes from the prominent tower rising above the 6th floor roof. Before becoming the Tower Lofts this building was one of the largest artist’s coops in the Warehouse District, better known as the Studios @ 700.  The first residential occupancy was actually in 1982.

Then

Tower Lofts Yesterday
Gamble-Skogmo Building, Flour City Brush Company Building, Northern Bag Company Building, Studios @ 700

Built: 1920

Architect: Hewitt & Brown

Style: Medieval Revival

Now

Tower Lofts Live Work

Tower Lofts

Renovated: 2004

Architect: Elness Swenson Graham Architects

Style: Warehouse Loft, Live/Work, Open Floor Plan, Concrete Floors, 13 ft Cielings

525 3rd Street North

The Bookmen Lofts is one of the few historic renovations in the North Loop where the architect was able to build the addition of a 6th floor bump out/private rooftop deck for the top floor penthouse units.

Then

Bookmen Yesterday

Bookmen Printing Building, IWS Warehouse, Slocum Bergen Building, Red and White Food Stores Warehouse

Built: 1914

Architect: Long, Lamoreaux & Long

Style: Commercial

Now

Bookmen Lofts Penthouse

Bookmen Lofts

Renovated: 2004

Architect: James Dayton Design, Ltd.

Style: Warehouse Loft, Brick Walls, Concrete Floors

801 Washington Avenue N

801 Washington was originally home to a farm implement factory, a Studebaker Packard showroom and Shafer Refrigeration. The most recent tenant prior to the loft renovation was an Antiques dealer, Architectural Antiques.

Then

801 Washington

Pence Auto Co.

Built: 1914

Architect: John Wunder Co.

Style: Classical Revival

Now

801 Washington Today
801 Washington Ave Lofts

Renovated: 2003

Architect: Meyer Scherer Rockcastle Architects

Style: Warehouse Loft, Brick Walls, Wood Floors, Exposed Timber, Single and  Multi-Level 

748 3rd Ave N 

The City of Minneapolis apparently approved a plan to add two story penthouses atop the Hershel building which would have increased the height from 6 floors to 8 floors, but this never came together.

Then

Herschel mfg
Herschel Roth Manufacturing Co..

Built: 1915

Architect: Walter H. Wheeler.

Style: Commercial

Now

Herschel Lofts Minneapolis
Herschel Lofts

Renovated: 2006

Architect: Tanek Inc.

Style: Warehouse Loft, Brick Walls, Hardwood Floors

716 1st St. N.

In the early 1980’s the Itasca Lofts became the first warehouse conversion from industrial use to business and residential lofts in Minneapolis. 

Then

Warehouse district 2
Itasca Warehouse

Built: 1886

Architect: Long & Kees

Style: Richardsonian Romanesque

Now

The Itasca
The Itasca

Renovated: 1981

Architect: Edwins & Halden

Style: Warehouse Loft, Timber Loft, Brick Walls

via Mike Seebinger @ south-of-canada

More historic North Loop photos @ “A Look Back at the North Loop: Photo Montage

FHA Approved Condos Downtown Minneapolis: Full List

What is the minimum down payment requirement for FHA?

“Generally, the borrower must make a cash investment of at least 3.5 percent of the contract sales price as required by the Housing and Economic Recovery Act of 2008.” FHA

What are the basic eligibility requirements for FHA financing?

“Generally, to be eligible for an FHA loan, you must have a valid social security number and have lawful residency in the United States and be of a legal age to sign on a mortgage in your state. Lenders will verify income, assets, liabilities, and credit history for all parties on the loan.” FHA

When considering purchasing Condos or Townhouses in Minneapolis with an FHA loan these project must have already been approved by the FHA and HUD.  Below is a full list of FHA approved condos and lofts in downtown Minneapolis.

Where can I buy downtown Minneapolis with an FHA Loan?

Harvester Lofts: 618 Washington Ave N

Franklin Lofts: 111 E Franklin Ave

The Crossings: 121 Washington Ave S

Rappahannock Flats Condominium: 607 S 9th St

Summit House: 400, 410 Groveland Ave

1200 on the Mall: 1200 Nicollet Ave

The River Towers Condos: 15 S 1st St and 19 S 1st St

301 Oak Grove: 301 Oak Grove St

Eat Street Flats: 15 E Franklin

710 Lofts: 710 N 4th St

720 Lofts: 720 N 4th St

730 Lofts: 730 N 4th St

Zenith Condos: 901 S 2nd St.

Madison Lofts: 1701 Madison Ave NE

Bridgewater Lofts: 215 10th Ave S

Groveland Terrace: 48, 50, 52 Groveland

Herschel Lofts: 748 N 3rd St

M Flats Condos: 2900 University Ave

Bookmen Lofts: 525 N 3rd St

Skyscape: 929 Portland Ave S

Security Warehouse: 404 Washington Ave N

5th Ave Lofts: 401 2nd St S

Calumet Lofts: 127 5th St NE

Carlyle: 100 3rd Ave S

Village Lofts at St Anthony Falls: 150 2nd St NE, 100 2nd St NE

1900 Stevens: 1900 Stevens Ave

Itasca Condos: 702-724 N. 1st St

801 Washington Lofts: 801 N Washington Ave

Tower Lofts: 700 Washington Ave N

Rock Island Lofts: 111 4th Ave N

River Tower Condos: 1920 S 1ST ST

Greenleaf Lofts: 9 W Franklin Ave

Cobalt Condos: 45 University Ave SE

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*for complete Minneapolis List visit Hud’s official website