1115 Franklin Street, Michigan City, IN 46360
Land Companys Add · La Porte County
Key Facts
Description
Prime investment opportunity in the heart of downtown Michigan City! Looking for a multi-unit property that also includes a retail space? This fully leased, mixed-use property offers immediate cash flow and long-term upside in a highly desirable location. The commercial building boasts a new roof (2024), furnace, 200 amp service and many other updates and improvements! The street-level retail space enjoys excellent visibility and steady foot traffic, making it an ideal anchor for the property. Two residential apartments above the retail space provide consistent rental income---one of which has been completely renovated with modern finishes, offering strong tenant appeal and reduced maintenance concerns. Adding further value is a separate carriage house, enhancing the overall versatility of the property. All units are currently rented with active leases in place, making this a true turnkey investment. Situated in a vibrant corridor of Michigan City, this property is conveniently located one block from the south shore train station. Whether you're looking to expand your portfolio or secure a stable, income-producing asset in a prime location, this property delivers on all fronts!
Property Information
Property Type
Residential Income
Sub-Type
Quadruplex
Year Built
1900
Living Area
5,737 sq ft
Lot Size
0.06 acres
Days on Market
97
MLS® Listing#
837999
Property Features
Interior
Exterior
Appliances
Cooling
Heating
Flooring
Basement
Parking
Lot Features
Roof
Other Structures
Utilities
Sewer
Water Source
Financial Details
HOA
None
Annual Taxes
$4,618
Tax year 2025
Parcel Number
460129466015000022
Directions
North on Franklin from Highway 20
Affordability Calculator
$105,800
Estimated monthly payment
$2,816/mo
Principal $423,200 · Est. interest $590,402 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Michigan City, IN
- $281,818
- Median Listing Price
- 51
- Median Days on Market
- 1,873
- Median Sq Ft
- $159
- Median Price / Sq Ft
- 147
- Active Listings
- This home’s price is 88% above the area median.
- Its price per sq ft is 42% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Michigan City, IN.
Location
Points of Interest in Michigan City, IN
Showing the Michigan City area map.
Nearby Schools
Wee Care
School · 0.0 mi away
St Paul Lutheran School
Secondary · 0.2 mi away
Saint Stanislaus Kostka Catholic School
School · 0.2 mi away
Marquette High School
Secondary · 0.2 mi away
Elston Middle School
Elementary · 0.2 mi away
Akscissory
Secondary · 0.2 mi away
Boys & Girls Clubs of La Porte County
School · 0.2 mi away
A K Smith Area Career Center
Secondary · 0.3 mi away
Marsh Elementary School
Elementary · 0.5 mi away
Knapp Elementary School
Elementary · 1.1 mi away
Queen of All Saints School
School · 1.3 mi away
Michigan City Area Schools
School · 1.4 mi away
Lake Hills Elementary School
Elementary · 1.4 mi away
Edgewood Elementary School
Elementary · 1.5 mi away
Michigan City Area Schools
School · 1.6 mi away
Joy Elementary School
Elementary · 1.7 mi away
Ivy Tech Community College
School · 1.8 mi away
Barker Middle School
Secondary · 1.8 mi away
St John's Preschool
School · 1.8 mi away
Krueger Middle School
Secondary · 2.4 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 802 Washington Park Boulevard, Michigan City, IN | $374,900 | 3 | 1 | 1,196 |
| 6323 N 600 W, Michigan City, IN | $374,900 | 3 | 2 | 1,866 |
| 101 Briese Lane, Michigan City, IN | $374,998 | 3 | 3 | 2,393 |
| 485 Boyd Circle, Michigan City, IN | $375,000 | 3 | 3 | 3,338 |
| 201 Autumn Trail, Michigan City, IN | $375,000 | 2 | 2 | 2,033 |
| 449 Washington Park Boulevard, Michigan City, IN | $375,000 | 3 | 2 | 1,368 |
Moving Cost Estimate
EXIT Agents in Michigan City
Listing Courtesy: Blackrock Real Estate Services - 2192620086
Presented by: Kimberly Fowler
Last Updated: 2026-03-17