Wabasha is a small and picturesque town in Minnesota, on the Mississippi river, on the Highway 61. Similar to the Red Wing (the same river, the same highway and railroad, colonial houses architecture...)
There is a Wabasha street in St. Paul (capital city of Minnesota), but it doesn't cross the 56th street. There is also a Wabasha street in Chicago, IL.
Red Wing was Indian chief (Sioux), and the name Wabasha also comes from their language or legends. I'll try to figure out what does it exactly mean.