No More Penthouse Storage

If ever there was an overlooked (if not long-neglected) commercial property in the Twin Cities, it was Calhoun Towers just northwest of Lake Calhoun in Southwest Minneapolis (note: the street address is 3430 List Place, but the locals commonly refer to it as “the high-rise behind Whole Foods”).

Twenty-one stories tall with 360° views of the city, the 1960’s rental building had slowly fallen into disrepair as newer buildings sprung up.

In fact, such was the inattention that the building’s fabulous penthouse — once upon a time, a restaurant — reportedly served as (unrented) storage for something like the last 20 years.

“Under New Ownership”

No more.

View looking Northeast from Calhoun Towers’ penthouse unit. Downtown Minneapolis is visible in the center left; Lake Calhoun is to the right.

Purchased last December by Bader Development, the building is getting a top-to-bottom renovation.

First up:  5 just-completed units in the now-subdivided penthouse that rent for $5,200 – $6,500 a month.

Slated for later 2018:  a new tower on the north side of the two acre parcel, where there’s now a parking lot.

P.S.: My recollection is that Calhoun Towers’ original owner was local businessman Bob Short, who also owned such properties as the now-demolished Leamington Hotel.

**The name, “Calhoun Towers” (plural) has always been a misnomer: there’s only one — at least currently.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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