1407 Franklin Street, Michigan City, IN 46360
Land Companys Add · La Porte County
Key Facts
Description
Versatile mixed-use commercial property with classic architecture is ideally positioned near the new South Shore commuter train station and The Franklin at 11th Street Station, a landmark 12-story luxury apartment development bringing new energy, residents, and momentum to downtown Michigan City. With the South Shore Line connecting Chicago's Millennium Station near Millennium Park to the South Bend International Airport, this value-add asset offers exceptional visibility and accessibility for commuters, tourists, and local patrons alike. Whether your vision is a vibrant cafe or delicatessen for morning commuters, a boutique retail space showcasing local makers, or another business concept that serves Michigan City's growing downtown, this property provides the ideal canvas. The opportunity extends beyond the commercial space. The upper level features an impressive 2,000-square-foot residential unit with 3 bedrooms and 1 bath, offering flexibility for owner occupancy or potential short-term rental use. Sunlight fills the apartment through oversized windows, highlighting the original hardwood floors and timeless character throughout. The spacious living room includes a charming library nook, while the formal dining room creates an inviting setting for intimate gatherings and fireside conversations. From the scenic shores of Lake Michigan to downtown boutiques, restaurants, arts, entertainment, and the expanding commuter corridor, this property is surrounded by reasons for people to live, work, visit, and invest in Michigan City. Additional incentives may be available through local improvement grants connected to the Michigan City Urban Enterprise Zone and the federally designated Opportunity Zone.Bring your vision and a hammer to capture the moment to be a part of Michigan City's continued growth and position your business, investment, or lifestyle vision in one of the city's most exciting downtown locations.
Property Information
Property Type
Residential Income
Sub-Type
Apartment
Year Built
1928
Living Area
4,336 sq ft
Lot Size
0.05 acres
MLS® Listing#
840571
Property Features
Interior
Exterior
Appliances
Cooling
Heating
Flooring
Fireplace
Basement
Parking
Laundry
Lot Features
Roof
Utilities
Sewer
Water Source
Financial Details
Annual Taxes
$4,611
Tax year 2025
Parcel Number
460132228013000022
Directions
Head North on Franklin St., Property is on the west side of Franklin, in between Ripley St and William St.
Affordability Calculator
$59,800
Estimated monthly payment
$1,591/mo
Principal $239,200 · Est. interest $333,705 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Michigan City, IN
- $280,702
- Median Listing Price
- 53
- Median Days on Market
- 1,845
- Median Sq Ft
- $160
- Median Price / Sq Ft
- 150
- Active Listings
- This home’s price is 7% above the area median.
- Its price per sq ft is 57% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Michigan City, IN.
Location
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Points of Interest in Michigan City, IN
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Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 3640 Henry Street, Michigan City, IN | $210,000 | 3 | 2 | 980 |
| 409 Holly Road, Michigan City, IN | $210,000 | 3 | 2 | 1,228 |
| 102 Leeds Avenue, Michigan City, IN | $215,000 | 3 | 2 | 1,078 |
| 1807 E Michigan Boulevard, Michigan City, IN | $219,000 | 3 | 2 | 2,120 |
| 623 N Carroll Avenue, Michigan City, IN | $219,000 | 4 | 2 | 1,800 |
| 902 Kentucky Street, Michigan City, IN | $220,000 | 5 | 2 | 2,558 |
Moving Cost Estimate
EXIT Agents in Michigan City
Listing Courtesy: @properties/Christie's Intl RE - 2198747070
Presented by: Giorgios Karayannis
Last Updated: 2026-06-12