Development continues apace in Minneapolis’ North Loop, now a hotbed for renovation
Plans are underway to rehabilitate the old Baker Importing Co. building, once the site of a large coffee business, into a mix of commercial space and apartments.
The idea is for there to be a commercial space on the ground floor and 21 apartments on the other three floors.
Currently, the Campbell-Logan Bindery owns the building and houses its bookbinding business there, but the company is relocating to Fridley. The building’s other commercial and residential tenants have already moved out.
Falcon Ridge Partners plans to buy the building and renovate it with the help of historic tax credits. Damaged masonry will be repaired. Much of the nonhistoric doors, windows and awnings will be removed, but other features like the cast-iron columns will be preserved. Two penthouses on the roof will be renovated to include a new elevator, boiler room and party room with a deck.
United Properties buys Kickernick
United Properties has bought the historic Kickernick building in the North Loop for $19.15 million, according to an electronic certificate of real estate value made available last week.
The Kickernick, at 1st Avenue and 5th Street, was sold by the Sherman Group. It is described as “a historic office space of brick-and-timber construction,” according to the Sherman Group’s website. It was renovated in 2007. Some of its tenants include Brothers Bar & Grill and the Haberman marketing agency.
United Properties spokeswoman Sheila Thelemann didn’t have much detail Tuesday about plans for the Kickernick, but she hinted that the new owner may make some improvements to the building.
“We’re exploring options for value-add improvements, including ways to celebrate the rich, historic attributes of the building,” she said via e-mail.
Read more ‘Just Listed’ at startribune.com/justlisted