UCare has quietly put its Northeast Minneapolis headquarters up for sale as the nonprofit health insurer winds down operations under court supervision. The move marks another step in the company’s rehabilitation process after months of regulatory and financial turmoil, and neighbors and commercial brokers say a buyer could quickly reshape the familiar Stinson Boulevard campus.
As reported by the Minneapolis/St. Paul Business Journal, UCare is marketing its Northeast Minneapolis campus to potential buyers. The listing comes as the company prepares to cease most insurance operations and transfer certain 2026 contracts. Representatives for UCare and any listing broker did not immediately respond to requests for comment.
Sale Comes During State-Ordered Wind-Down
State regulators moved last year to place UCare into rehabilitation after steep financial losses, and Medica agreed in November to assume many of UCare’s 2026 Medicaid and individual-market contracts. As detailed by the Star Tribune, the Minnesota Department of Health is overseeing an orderly wind-down intended to protect policyholders and keep care uninterrupted.
UCare lists its Minneapolis office at 500 Stinson Boulevard NE on its UCare contact page, and the company has occupied multiple neighboring Stinson properties for years. The insurer purchased 600 Stinson Boulevard NE in 2014 as part of that consolidation, according to Finance & Commerce.
Real Estate May Factor Into Creditor Payouts
Court filings in the rehabilitation case spell out UCare’s assets and liabilities and point to property sales as one way to address claims. The Star Tribune reports the state estimate shows roughly $1.165 billion in assets against about $1.081 billion in liabilities. The filing notes that office real estate, including the Stinson properties, will be appraised and could be sold to help satisfy provider claims.
Hospitals Pressing for Payment
Major hospital systems have told the court they are owed large sums and have pushed for a say in the rehabilitation process. FOX 9 reported that hospitals say the unpaid total to Mayo Clinic, Hennepin Healthcare, Fairview and Allina approaches half a billion dollars. The state’s plan would set aside an initial pool for providers while distributions are organized through the court process.
Staff and Neighborhood Impact
UCare has already cut roughly 250 jobs during the wind-down while keeping other employees to manage claims and member transitions. Neighborhood vendors say a campus sale could further change local foot traffic. Bring Me The News reports Medica expects to hire several hundred former UCare employees as it absorbs the business.
What Comes Next
The listing puts the Stinson campus on the market at a sensitive moment. Any sale, appraisal or transfer of the properties will have to run through the state’s rehabilitation process and the courts before proceeds can be distributed. Regulators and both insurers say they are working to keep coverage in place for members while the asset and claim issues get sorted out, per reporting by KTTC.
