521 Franklin Street, Michigan City, IN 46360
$1,500,000
Property Type:
Commercial Sale
Square Footage:
21,057
Lot Size (sq. ft.):
12,371
Status:
Closed
Current Price:
$1,500,000
List Date:
9/29/2025
Last Modified:
8/13/2026
Overview
Description
Listing Details MLS# 828505
General Property Information
- Number Of Units Total
- 10
- Living Area
- 21057
- Building Area Source
- Assessor
- Year Built
- 1880
- Lot Size Acres
- 0.284
- Lot Size Square Feet
- 12371.04
- Lot Size Source
- Assessor
- Waterfront YN
- No
- Basement YN
- Yes
Property Features
Basement:
Unfinished
Building Features:
Acoustical Ceiling(s); Business District Location; High Speed Internet; Mixed Use; Multi Tenant; Private Restrooms
Business Type:
Mixed; Professional/Office; Restaurant; Retail
Construction Materials:
Brick
Cooling:
Central Air
Current Use:
Commercial; Mixed Use; Office; Residential; Retail
Electric:
200+ Amp Service
Exterior Features:
None
Heating:
Central
Listing Terms:
Cash; Conventional
Lock Box Information:
Call Listing Office
Owner Pays:
Insurance; Taxes
Possession:
Close Of Escrow; Subject To Tenant Rights
Rail Availability:
None
Roof:
Other
Sewer:
Public Sewer
Special Listing Conditions:
None
Tenant Pays:
Electricity
Utilities:
Cable Connected; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Water Source:
Public
Contract Information
- Auction YN
- No
- Original List Price
- 1650000
- Property Sub Type
- Mixed Use
- Listing Agreement
- Exclusive Agency
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 521
- Street Name
- Franklin
- Street Suffix
- Street
- County
- La Porte
- State
- IN
- Postal Code
- 46360
Remarks and Miscellaneous
- Public Remarks
- Prime Downtown Mixed-Use Building in the Arts District! Outstanding opportunity to own a 10-unit building right in the heart of the vibrant Arts District. The property features three street-level commercial spaces — two versatile office/retail storefronts and one restaurant space with established infrastructure. Upstairs, you'll find seven unique apartments, each with its own character and layout, offering a mix of options for tenants seeking something distinctive. With a mix of 0pen loft-style stuidos and one-bedroom units, these apartments attract long-term renters who value individuality and prime downtown living. The building sits on a highly visible block surrounded by galleries, shops, and restaurants, making it a sought-after location for both commercial and residential tenants. Strong income from a diverse range of tenants make this a great investment opportunity.
Status Change Information
- Major Change Timestamp
- 2026-08-13T19:49:32Z
- Major Change Type
- Status Change
- Price Change Timestamp
- 2026-03-08T19:13:57Z
- Status Change Timestamp
- 2026-08-13
- Offer Acceptance Date
- 2026-05-09
- Close Date
- 2026-08-12
- Close Price
- 1500000
- Concessions
- No
- Buyer Financing
- Conventional
More Information
Exemption Information
- Exemption YN
- No
Showing Requirements
- Showing Instructions
- Use ShowingTime. 48 hour notice minimum.
Listing Office:
Coldwell Banker Realty
Last Updated: August - 13 - 2026
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