717 Michigan Ave, La Porte, IN 46350
For Sale
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This exceptional 20,868-square-foot, three-story Class C office building, constructed in 1889, is situated in the heart of historic downtown La Porte, Indiana. The property, located at 717 Michigan Ave (APN 46-06-35-439-012.000-043), sits on a 0.127-acre lot and offers a unique investment opportunity. Currently, the first two floors are fully leased with long-term tenants, providing a stable rental income stream. The third floor is available for an owner-occupier seeking additional rental income or conversion into multi-residential apartments. This multi-tenant building boasts elevator access to all floors and benefits from a large, adjacent parking lot—a rare amenity for a downtown location. Its prime location qualifies it for the Urban Enterprise Grant Program, and its proximity to major highways (including easy access to Hwy 35/39 and State Hwy 2) and the planned South Shore double-track train project enhances its appeal. The South Shore expansion will significantly improve La Porte County's accessibility to Chicago by rail. This property presents a compelling blend of historical charm, strong rental income potential, and strategic location. The asking price is $725,000.
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John T. Heroldt, EdD Physician Medical Clinic
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Edward Jones - Financial Advisor: Jonathan E Salisbury, AAMS® Financial Advisor
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Hair by Hannah Watt Hair Salon
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Parcel Port Courier Service Postal Service
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UPS Authorized Shipping Outlet Courier Service Postal Service
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.