126 4Th StMichigan City, IN 46360

Property Details for 126 4Th St

Year built

1981

Construction

TYPE NOT SPECIFIED

Lot size

1.37 AC

Property size (Sq ft)

23,166 SF

Property type

Office properties

APN

46-01-29-256-026.000-022

APU

460129256026000022

Description

This exceptional two-story, 23,166 square foot former bank building presents a unique opportunity in Michigan City's thriving North corridor. The property offers flexible space, accommodating various needs from 5,000 to 23,166 contiguous square feet, making it ideal for traditional office, executive office, medical office, creative office, or coworking spaces. The building boasts 60 parking spaces and elevators for convenient access. Located in a revitalized area, it benefits from proximity to numerous restaurants and is surrounded by new developments, including a large multi-family building and a soon-to-be-constructed condo/hotel project featuring 170 luxury condos, 18 townhomes, restaurants, and shopping. Its strategic location offers easy access to Chicago (50 miles) and South Bend (40 miles). Enjoy the advantages of being near Lake Michigan, Indiana Dunes National Park, Washington Park (including its zoo and lighthouse), Lighthouse Place Premium Outlets, the Barker Mansion, and the Blue Chip Casino. Property taxes are $1 per square foot. This is an unparalleled opportunity to establish a presence in a dynamic and rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $7,444,892

  6.5%

  $6,872,208

  7%

  $6,381,336

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,017,372

  Geo Method

  $3,017,372

• Alternative Use

  Use

  Valuation

  Residential Income

  $8,521,538

  Hospitality / Lodging

  $7,805,683

  Institutional / Educational

  $6,494,236

  Healthcare / Senior Housing

  $6,717,584

  Retail / Commercial

  $10,102,146

Location Insight

City

Michigan City

County

Laporte

State

Indiana

Latitude

41.7192

Longitude

-86.9016

CBSA code

33140

CBSA name

MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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