U puts building worth $2.5M up for sale

School officials had considered selling the building before but wanted to wait until the Green Line light rail opened.

Anne Millerbernd

The University of Minnesota put the building that previously housed the Minnesota Geological Survey for sale on Wednesday.

The approximately 42,000 sq. ft. building at 2642 University Ave. W. was appraised at over $2.5 million, according to University documents.

Sue Weinberg, University director of real estate, said school officials considered selling the building in the past but wanted to wait for property values to rise after the Green Line light rail’s opening in June.

Weinberg said it took a couple of months after the Green Line began running to find a new spot for the Minnesota Geological Survey, which now leases space on Territorial Road.

In the past, the building was used as storage space for the Weisman Art Museum and office space for the Office of the General Counsel.

The University’s buildings aren’t subject to zoning restrictions, Weinberg said, but the building includes about 16,500 sq. ft. of office space, according to the documents.

She said she doesn’t expect any offers on the building until the due date for bids on April 3 gets closer. It will be sold by Sept. 1, according to the documents.