The iconic Lumber Exchange Building, a cornerstone of Minneapolis' skyline since 1885, is now up for sale. Located at 10 S. Fifth Street, this Romanesque landmark is believed to be the first skyscraper in the city—and even more impressively, the oldest standing building over 12 stories outside of New York City.
Spanning approximately 226,000 square feet, the building has traditionally served as office space. However, new ownership could pivot in an entirely different direction. The building is already prepped for conversion, with $700,000 invested in architectural planning, neighborhood approvals, and historic certifications. This makes it a prime candidate for multifamily housing, a boutique hotel, or mixed-use redevelopment.
Listed by JLL brokers Josh Talberg, Joe Peris, and Colin Ryan, the property is being marketed for its “unmatched investment versatility.” Though no price is listed, the current ownership by Minneapolis-based Värde Partners signals serious potential for transformation. Previously home to The Pourhouse nightclub and currently featuring Greek eatery Trieste Café, the Lumber Exchange has a long history of evolution—and this sale might mark its next big chapter.
With historic tax credits and a downtown Minneapolis location, the Lumber Exchange could be a cornerstone in the city’s ongoing revitalization. As JLL’s Talberg noted, the downtown comeback is in motion, and this property offers a rare opportunity to be part of it.
