The Rainbow Building on the northwest corner of Hennepin & Lake has been home to many businesses over the years, with a couple earning regional attention. More on that in a moment. The photo below appears to be from just after 1990.
The data available, states that in 1990, the building was home to the following retail tenants:
2916 Hennepin – Annie’s Uptown
2920 Hennepin – Invision
2922 Hennepin – Spudsters
1426 W Lake – Elan Delicatessen
1428 W Lake – Victor’s Gallery
In the photo, the 1428 space is occupied by a company called MindWare, which was a brainy toy company opened in 1990 in Uptown. The company has since grown into a largest catalog seller in its category.
Annie’s Uptown was another outpost of Annie’s Parlor in Dinkytown. The restaurant came in after the Rainbow Cafe closed (been there for decades and was a regional destination). Annie’s was replaced by Chino Latino in 1999, which has garnered attention for being a must-take-your-visiting-family/friends/etc place.
Spudsers was on the corner of Hennepin and Lake for a number of years, coming after Huntley’s Limited (menswear) and before Caribou Coffee. Caribou Coffee left in 2002 and was replaced by MAC in 2003.