731 Franklin Street

Michigan City, IN 46360

$1,195,000
Price
Beds
12,000 Sq. Ft.
$100 / Sq. Ft.
12,000
Sq. Ft.
$100
per Sq. Ft.

Description

Rare opportunity to own a fully occupied mixed use building in the Uptown Arts District of Michigan City. Vibrant corner location with high traffic count with 2 (potentially 3) ground level commercial spaces and 3 beautiful loft apartments above. Plenty on street public parking available and just steps from the seasonal Farmer's Market. Each residential loft is 2000 square feet and fully renovated. Two lofts have a rear deck/entry and designated parking (1 space per loft). Corner loft is accessed...Rare opportunity to own a fully occupied mixed use building in the Uptown Arts District of Michigan City. Vibrant corner location with high traffic count with 2 (potentially 3) ground level commercial spaces and 3 beautiful loft apartments above. Plenty on street public parking available and just steps from the seasonal Farmer's Market. Each residential loft is 2000 square feet and fully renovated. Two lofts have a rear deck/entry and designated parking (1 space per loft). Corner loft is accessed from side entry on 8th St. One loft unit is used as a STR. Huge potential in converting the remaining 2 loft apartments to short term rentals. Most units are currently occupied by long term tenants who already have 4+ years of occupancy and leases. Home to beloved and well established local businesses Hoity Toity and Mucho Mas. Building currently grosses over $117,000 annually.
  1. Listed by Michael Conner • @properties/Christie's Intl RE
    P: (312) 735-2912 C: (312) 735-2912 mconner@atproperties.com
  2. Listed by Ruth Conner • Rudy Conner
    P: (219) 898-0708 C: (219) 898-0708 rudy@atproperties.com

Property Details for 731 Franklin Street

Subdivision
Elstons

Location

Listing Courtesy of @properties/Christie's Intl RE; Rudy Conner
Add your commute
LISTING UPDATED: 05/03/2024 11:57 AM

Property Details for 731 Franklin Street

StatusPending
MLS #537424
Days on Market246
Taxes$8,047 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built1910
Lot Size0.17 AC / 7,385 SF
CountyLaPorte County

Location

Listing Courtesy of @properties/Christie's Intl RE; Rudy Conner
Add your commute

Building Information for 731 Franklin Street

Stories2Residences5Year Built1910Building Size-Lot Size0.17 AC / 7,385 SF

Payment Calculator

$7,192 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,522

Property Taxes

$671

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 731 Franklin Street

Summary
Location and General Information
  • Directions: Franklin St. North to property at the corner of Franklin & 8th streets.
  • City/Town: Michigan City
  • State: IN
  • Township: Michigan
  • ZIP: 46360
  • Zip Plus 4: 3505
  • Latitude: 41.71
  • Longitude: -86.90
  • County: La Porte
Taxes and HOA
  • Annual Tax Amount: $8,047.00
  • APN/Key #: 460129411017000022
  • Tax Year: 2023
  • Tax Legal Description: Legal Description: 42-01-29-411-017 E O S S1/2 N1/2 & S1/2 EX SO 20 FT OF W 66.50 FT LT 8 BLK 33
Parking
  • Garage Description: Assigned, Paved
Property
Lot Information
  • Lot Square Footage: 7,385.00
  • Lot Dimensions: 68 x 168
  • Square Footage: 12000.0
  • Acres: .17
Property and Assessments
  • Property Type: Commercial Sale
  • Property Subtype 1: Multi Family
  • Year Built: 1910
  • Road Access: City Street
  • Potential Use: Commercial, Medical/Dental, Mixed Use, Multi-Family, Office, Recreational, Retail
  • Current Use: Commercial, Mixed Use, Multi-Family, Retail
Utilities
  • Utilities: Cable Available, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: 100 Amp Service
Interior and Exterior Features
Exterior Features
  • Construction Materials: Brick, Other, Stucco
  • Foundation Details: Brick/Mortar
Interior Features
  • Basement: Yes
  • Cooling: Central Air
  • Flooring: Other, Tile, Wood
  • Heat Type: Forced Air, Natural Gas
  • Interior Features: Elevator
  • Roof: Flat, Membrane, Rubber
  • Stories: 2
Multi Family
Multi-Family Information
  • # of Units: 5
Rental
Rental Information
  • TenantPays: Gas

Property History for 731 Franklin Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 731 Franklin Street

Taxable ValueLand$52,300Additions$243,600Total$295,900
Tax Record2023$8,047 ($671 / month)
Home Facts
Total Finished SqFt18,432 SqFtAbove Grade Finished SqFt18,432 SqFtStories3Lot Size7,385 SqFtStyleMiscellaneous CommercialYear Built1910CountyLAPORTEAPN46-01-29-411-017.000-022

Schools near 731 Franklin Street

This home is within Michigan City Area Schools.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Pine Elementary School
PublicPK to 6

Barker Middle School
Public7 to 8

Michigan City High School
Public9 to 12

A K Smith Area Career Center
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of @properties/Christie's Intl RE; Rudy Conner

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS, Northwest Indiana REALTORS® Association Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association, Northwest Indiana REALTORS® AssociationSoutheastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.