




1407 Franklin St, Michigan City, IN, 46360
About This Home
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.
Getting Around
Schools
Construction
Condition
- Property condition: Fixer
- Year built: 1928
Type & Style
- Home type: MultiFamily
- Property subType: Apartment
Interior
Appliances
- Appliances included: Refrigerator,Microwave
- Laundry features: Upper Level
Basement
- Has basement: Yes
- Basement: Storage Space,Unfinished
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 2
- 1/2 bathrooms: 2
Features
- Ceiling Fan(s),None
- Number of fireplaces: 1
- Fireplace features: Living Room
- Fireplace: Yes
- Finished area above ground: 4,336
Heating
- Heating features: Baseboard,Forced Air
Property
Details
- Parcel number: 460132228013000022
- Zoning description: Commercial
- Special condition: Standard
Features
- Levels: Other
- Exterior features: None
- Has view: Yes
- View description: City
Lot
- Lot size: 2,278 sqft
- Features: Near Public Transit
Parking
- Parking features: On Street
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Tornado
- Hail
- Lightning
- Strong Wind
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across Indiana Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,511 | $18,132 |
| Home Insurance * | $201 | $2,412 |
| Property Taxes | $196 | $2,352 |
| Electricity | $184 | $2,212 |
| Total | $2,092 | $25,104 |
Income You'd Need if You Spent...
Indiana FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-06-12 | Listed for sale | $299,000 |
| 2025-10-04 | Listing removed | $339,000 |
| 2024-09-14 | Listed for sale | $339,000 |
