Historic Sposeep Building in
55 West Water Street, Wabash, IN 46992
Landmark building with adaptive reuse potential in historic Wabash.
Type:Commercial / Mixed Use
Property size:
28,116 SFPrice / SF:
$0.00/SF- Added:
- Aug 15, 2025
- Days on Market:
- 289
- Last Refresh:
- Mar 13 at 2:58 pm
Property Features for 55 West Water Street
General Information
- Standard status
- Active
- Size
- 28,116 SF
- Property subtype
- Commercial / Mixed Use
Building Details
- Year Built
- 1890
Listing agent Robert Lundquist License #RB14033743
Listing office Lundquist Appraisals & Real Estate Services, Inc (260) 571-4653
Listing date Aug 15, 2025
Source Compass
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Lundquist Appraisals & Real Estate Services, Inc
HighLights
- Historic 1890 limestone building in the heart of Wabash, offering a rare revitalization opportunity.
- Large, open floor plans (approximately 3,276 sq ft per floor) suitable for adaptive reuse.
- Remarkable original features including exposed timber beams and columns, rustic limestone walls, and original plank wood flooring.
- Prominent corner lot location one block south of the downtown commercial district.
- Full basement with walk‑up access.
- IDEM‑guided environmental remediation previously completed.
Overview
The Sposeep Building, constructed in 1890, is located on Water Street, one block south of the downtown commercial district in historic Wabash. This 3-story building, plus a full basement, offers approximately 3,276 square feet per floor. The building features original details such as exposed timber beams and columns, limestone walls, and original plank wood flooring, with ceiling heights ranging from 10 to 13 feet. The open floor plans provide flexibility for adaptive reuse, such as studio or workshop space, creative offices, gallery, or mixed commercial concepts. The property previously underwent environmental remediation due to historic industrial use, with documentation and reports available. Any purchase offer will require final approval from both the City of Wabash Redevelopment Commission and the Indiana Landmarks Foundation Board of Directors. The property will be subject to protective covenants and right of first refusal. The building's character and industrial detailing make it suitable for restoration and preservation, contributing to the revitalization of the downtown district.
Location Intelligence
Current Use by Public Records
Creative space
Location Insight
- Map
- Local Demand
- City
- Wabash
- County
- Wabash
- State
- Indiana
- Longitude
- -85.822893
- Latitude
- 40.794836
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FAQs
What type of property is this?
Mixed-use property - Landmark building with adaptive reuse potential in historic Wabash.
Where is this mixed-use property located?
The property is located at 55 West Water Street Wabash, IN.
What is the asking price?
The asking price for this property is Off market.
What are key features of this property?
This property features: Historic 1890 limestone building in the heart of Wabash, offering a rare revitalization opportunity.; Large, open floor plans (approximately 3,276 sq ft per floor) suitable for adaptive reuse.; Remarkable original features including exposed timber beams and columns, rustic limestone walls, and original plank wood flooring.
