220 Main Street, Hobart, IN 46342
$875,000
Property Type:
Commercial Sale
Square Footage:
10,332
Lot Size (sq. ft.):
9,845
Status:
Active
Current Price:
$875,000
List Date:
6/04/2026
Last Modified:
6/15/2026
Listing Details MLS# 840080
General Property Information
- Number Of Units Total
- 7
- Living Area
- 10332
- Building Area Source
- Assessor
- Year Built
- 1922
- Parking Total
- 6
- Lot Size Acres
- 0.226
- Lot Size Square Feet
- 9845
- Lot Size Source
- Assessor
- Waterfront YN
- Yes
- Basement YN
- Yes
- Stories
- 3
Property Features
Basement:
Unfinished
Building Features:
Other
Business Type:
Mixed; Retail; Other
Construction Materials:
Other
Cooling:
Central Air
Current Use:
Multi-Family; Retail
Electric:
Other
Flooring:
Vinyl
Heating:
Forced Air
Laundry Features:
Washer Hookup
Listing Terms:
Cash; Conventional; Other
Owner Pays:
See Remarks
Parking Features:
On Street
Possession:
Close Of Escrow
Rail Availability:
None
Roof:
Other
Sewer:
Public Sewer
Special Listing Conditions:
None
Tenant Pays:
See Remarks
Utilities:
Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
View:
Lake; Other
Water Source:
Public
Waterfront Features:
Lake Front
Contract Information
- Auction YN
- No
- Original List Price
- 875000
- Property Sub Type
- Mixed Use
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 220
- Street Name
- Main
- Street Suffix
- Street
- County
- Lake
- State
- IN
- Postal Code
- 46342
- Subdivision Name
- Hobart
Remarks and Miscellaneous
- Public Remarks
- This recently renovated property is located in the heart of Downtown Hobart, 220 Main Street presents a rare opportunity to acquire a well-positioned, 7 unit, mixed-use investment property overlooking Lake George and surrounded by the city's thriving Main Street business district. Comprised of four spacious 2-bedroom residential apartments and three, approximately, 1,200-square-foot retail storefronts, this seven-unit asset offers investors a diversified income stream in one of Northwest Indiana's most desirable downtown markets. The property's prime location places tenants within walking distance of restaurants, shopping, entertainment, parks, and year-round community events, creating strong demand from both residential and commercial users. The residential units benefit from Hobart's limited supply of quality downtown housing, while the retail spaces enjoy excellent visibility, pedestrian traffic, and exposure along one of the city's most active commercial corridors. Investors will appreciate the combination of stable cash flow, multiple revenue sources, and long-term upside potential. With opportunities to increase rents through strategic lease renewals, tenant turnover, and continued downtown growth, the property offers an attractive value-add component while maintaining the stability typically associated with mixed-use assets. The proximity to major transportation routes, regional employers, and the continued revitalization of Downtown Hobart further supports the property's long-term investment appeal. Whether you're seeking to expand an existing portfolio or acquire a landmark downtown asset, this property represents a compelling opportunity to own a highly visible mixed-use property in a market experiencing continued growth and investment.
Status Change Information
- Major Change Timestamp
- 2026-06-04T12:57:35Z
- Major Change Type
- New Listing
- Status Change Timestamp
- 2026-06-04
More Information
Exemption Information
- Exemption YN
- No
Income and Expenses
- Gross Income
- 101100
- Net Operating Income
- 60220
- Operating Expense
- 39325
Showing Requirements
- Showing Instructions
- Please contact broker for showing instructions. Open house will be 1-2 weeks after posting.
Location, Tax, and Legal
- Tax Annual Amount
- 19752
- Tax Year
- 2025
- Tax Legal Description
- HOBART E.133.13FT OF S.1.0FT OF LOT 7 & E.133.13FT OF N.59FT OF LOT 8
- Parcel Number
- 450932152019000018
- Township
- Hobart
- Directions
- From I-65, take Exit 255 for Ridge Road and head east toward Hobart. Continue into downtown, then follow Main Street north to the property, which is situated near the Lake George waterfront and the heart of Hobart's downtown district.
- Census Tract
- 419
Basement
- Unfinished
- Yes
Construction Materials
- Other
- Yes
Cooling
- Central Air
- Yes
Electric
- Other
- Yes
Flooring
- Vinyl
- Yes
Heating
- Forced Air
- Yes
Laundry Features
- Washer Hookup
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
- Other
- Yes
Parking Features
- On Street
- Yes
Possession
- Close Of Escrow
- Yes
Roof
- Other
- Yes
Sewer
- Public Sewer
- Yes
Special Listing Conditions
- None
- Yes
Utilities
- Electricity Connected
- Yes
- Natural Gas Connected
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
View
- Lake
- Yes
- Other
- Yes
Water Source
- Public
- Yes
Waterfront Features
- Lake Front
- Yes
Owner Pays
- See Remarks
- Yes
Tenant Pays
- See Remarks
- Yes
Current Use
- Multi-Family
- Yes
- Retail
- Yes
Building Features
- Other
- Yes
Business Type
- Mixed
- Yes
- Retail
- Yes
- Other
- Yes
Rail Availability
- None
- Yes
Listing Office:
Ellsbury Group
Last Updated: June - 15 - 2026
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