St. Louis County, Minnesota

Innovative real estate investing opportunities abound in the various cities in St. Louis County, Minnesota. From Duluth to Hibbing and all points in between, there are a variety of properties available that offer investors solid returns.

One such opportunity is the redevelopment of old industrial sites. Cities like Duluth and Hibbing were once major hubs for the iron ore and steel industries, respectively. Today, these cities are reinventing themselves as centers for arts and culture, with a growing number of restaurants, breweries, and distilleries popping up. As a result, there is a growing demand for housing near these amenities.

Investors who are looking to get in on the ground floor of this trend can purchase old industrial buildings and convert them into loft-style apartments or mixed-use commercial/residential properties. These types of conversions can be very profitable, as they often involve little more than cosmetic changes to the existing structure.

Another innovative real estate opportunity in St. Louis County is the development of senior housing. The population of Minnesota is aging rapidly, and there is a growing need for housing that caters to seniors' needs. Developers who are able to build senior housing that includes features like on-site medical care and recreation facilities can expect strong demand for their units.

Finally, investors should also keep an eye out for opportunities to develop new construction projects in high-growth areas like Duluth's Canal Park neighborhood or Hibbing's downtown district. With a limited supply of land available for development in these areas, new construction projects will be sure to command premium prices from buyers or renters looking to be close to all the action.