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    1012 Main St Racine, WI 53403

    For Sale
    $1,200,000

    Historic Downtown Racine property, 43,510 sq ft.

    Property size:
    43,510 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional redevelopment opportunity presents a unique chance to acquire 1012 Main Street in downtown Racine, Wisconsin. The property encompasses a remarkable 43,510 square feet situated on a 1.12-acre lot and includes two historic structures: a three-story Italianate mansion built in 1856 and a Masonic Temple addition constructed in 1922. The property, currently vacant, offers flexible floor plates suitable for various uses, including multi-family conversion or an event venue. The asking price is $1,200,000 ($40.22/sq ft). The existing building boasts elegant rooms, spacious halls, a ballroom, and a theater, previously used for tours, weddings, receptions, and corporate events. On-site parking accommodates up to 46 vehicles. This prime location on Racine's main commercial corridor provides excellent views of Lake Michigan and is conveniently located less than 10 miles from Interstate 94, 20 minutes from Kenosha, and 38 minutes from Milwaukee. The property is zoned RO - Restricted Office District and features numerous potential tax incentives at the local, state, and national levels. The property's rich history and versatile layout make it an ideal investment for those seeking a high-impact project in a vibrant downtown setting. The APN is 276-00-00-00-589-000.

    Property Features for 1012 Main St

    General Information

    Property type
    Churches & religious facilities
    Square Feet
    43,510 SF
    Lot Size
    48,787 SF

    Building Details

    Year Built/Renovated
    1856/1922

    HighLights

    • Downtown Racine redevelopment opportunity.
    • Prime downtown Racine location for complete property reimagining.
    • Low acquisition cost with potential for significant tax incentives.
    • Adaptable floor plans suitable for multifamily conversion or event venue use.
    • Exceptional location on Racine's main commercial corridor.
    • Stunning Lake Michigan views.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Masonic Lodge Fraternal Organization

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Racine
    County
    Racine
    State
    Wisconsin
    Longitude
    -87.7831904
    Latitude
    42.7210244

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    FAQs

    What type of property is this?
    Church & religious facility - Historic Downtown Racine property, 43,510 sq ft.
    Where is this church & religious facility located?
    The property is located at 1012 Main St Racine, WI.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Downtown Racine redevelopment opportunity.; Prime downtown Racine location for complete property reimagining.; Low acquisition cost with potential for significant tax incentives.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1012 Main St Racine, WI 53403
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