230 Main Street, Hobart, IN 46342 (MLS# 835785)

230 Main Street, Hobart, IN 46342

$1,600,000

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Property Type: Commercial Sale Square Footage: 10,000 Lot Size (sq. ft.): 8,799 Status: Active

Current Price: $1,600,000 List Date: 3/20/2026 Last Modified: 6/25/2026

Overview

Description

Income-producing entertainment venue in the heart of downtown Hobart's Main Street corridor. The Art Theatre operates as a fully programmed live event and performance space with multiple revenue streams including ticketed concerts, bar sales, private event rentals, and venue partnerships. The property features an open auditorium with stage, professional sound and lighting infrastructure, and capacity for approximately 400 guests, allowing for high-volume event turnover and strong per-event revenue potential. Established brand with regional draw and consistent programming provides a foundation for continued growth, with upside through expanded booking schedules, premium events, sponsorships, and enhanced food and beverage operations. Positioned within a walkable, revitalizing downtown with strong local support and increasing destination traffic. Turnkey opportunity for investor or operator seeking a scalable experiential asset in a supply-constrained entertainment category.

Listing Details MLS# 835785

General Property Information

Number Of Units Total: 2
Living Area: 10000
Building Area Source: Estimated
Year Built: 1934
Lot Size Acres: 0.202
Lot Size Square Feet: 8799
Lot Size Source: Assessor
Waterfront YN: Yes
Basement YN: Yes
Stories: 2

Property Features

Appliances: Dishwasher; Freezer; Gas Range; Gas Water Heater; Range Hood; Stainless Steel Appliance(s); Water Heater; Other Basement: Bath/Stubbed; Partially Finished Building Features: Business District Location; Mixed Use; Private Restrooms Business Type: Bar/Tavern/Lounge; Mixed; Restaurant; Other Construction Materials: Stucco; Other Cooling: Ceiling Fan(s); Central Air; Zoned Current Use: See Remarks Electric: 100 Amp Service; 200+ Amp Service Heating: Forced Air Listing Terms: Cash; Conventional Lock Box Information: Call Listing Office Owner Pays: All Utilities Possession: Close Of Escrow Possible Use: Commercial; Investment; Place of Worship; Retail; See Remarks Rail Availability: None Roof: Asphalt Sewer: Public Sewer Special Licenses: Beer/Wine; Entertainment; Liquor Special Listing Conditions: None Tenant Pays: All Utilities Utilities: Cable Available; Cable Connected; Electricity Available; Electricity Connected; Natural Gas Connected; Sewer Available; Sewer Connected; Water Available; Water Connected; Underground Utilities Water Source: Public Waterfront Features: Lake Front

Contract Information

Auction YN: No
Original List Price: 2000000
Property Sub Type: Business
Listing Agreement: Exclusive Right To Sell
Occupant Type: Owner

Location Tax and Legal

Street Number: 230
Street Name: Main
Street Suffix: Street
County: Lake
State: IN
Postal Code: 46342
Subdivision Name: Art Theatre Sub

Remarks and Miscellaneous

Public Remarks: Income-producing entertainment venue in the heart of downtown Hobart's Main Street corridor. The Art Theatre operates as a fully programmed live event and performance space with multiple revenue streams including ticketed concerts, bar sales, private event rentals, and venue partnerships. The property features an open auditorium with stage, professional sound and lighting infrastructure, and capacity for approximately 400 guests, allowing for high-volume event turnover and strong per-event revenue potential. Established brand with regional draw and consistent programming provides a foundation for continued growth, with upside through expanded booking schedules, premium events, sponsorships, and enhanced food and beverage operations. Positioned within a walkable, revitalizing downtown with strong local support and increasing destination traffic. Turnkey opportunity for investor or operator seeking a scalable experiential asset in a supply-constrained entertainment category.

Status Change Information

Major Change Timestamp: 2026-06-25T15:22:15Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-06-25T15:22:15Z
Status Change Timestamp: 2026-03-20

More Information

Exemption Information

Exemption YN: No

Listing Office: Berkshire Hathaway HomeService

Last Updated: June - 25 - 2026

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