NOT LISTED FOR SALE

1601 S Michigan St South Bend, IN 46613

Estimated Value: $86,016

0.39 Acre
$220,554 Price per Acre
16,988 Sq Ft Lot

Last Sold December 03, 2018

Last sale price $52,500 $8 Per Sq Ft

Est. 64% increase in value since last sale

Current estimated payment $515/month

671 Days on Market

About This Lot

As of December 2018

Great corner location for commercial redevelopment. Properties for sale include 2 lots facing Michigan St./US 31 (1601 and 1609 S. Michigan St.) and 2 lots facing Indiana Ave. (112 and 114 Indiana Ave). Approx. .39 ACs. Approx. 163 ft. of frontage on Indiana and approx. 114 ft. of frontage on Michigan St. Currently has a 3,000 sq. ft. building and a 1,288 sq. ft. building on property. Buildings are not usable, value is in the land. Zoned LB: Local Business District. Great opportunity for many commercial uses. Traffic count on S. Michigan at nearly 22,000 cars daily (AADT). Current taxes for all 4 lots: $3,086. Underground Tank Storage Assessment Report available upon request. Zoned CBD: Central Business District Located on the high traffic corner of S. Michigan St./US 31 and Indiana Ave. in South Bend. Just south of the South Bend commercial business district/downtown. Located near the Transpo station and Ivy Tech Community College. Just over 3 miles from Notre Dame University and Eddy St. Commons.

Last Listed By

John Piraccini

Coldwell Banker Real Estate Group Listed on: 01/25/2017

Coldwell Banker Real Estate Group

Property Details

Property Type

  • Land

Year Built

  • 1925

Lot Details

  • 0.39 Acre Lot
  • Lot Dimensions are 114x163
  • Finished Lot(s)
  • Subdivision Possible

Listing and Financial Details

  • Assessor Parcel Number 71-08-13-305-006.000-026

Property Details

Property Type

Land

Year Built

1925

Lot Details

0

Listing Details

  • Class: LOTS AND LAND
  • Property Sub Type: Commercial Land
  • Legal Description: 73'X 85'NE COR TAX LOT 2 IND AVE & MICH STS SEC 13-37-2E |
  • Parcel Number ID: 71-08-13-305-006.000-026
  • Platted: Yes
  • Location: Commercial
  • Road Access: City
  • Road Surface: Paved
  • Sp Lp Percent: 76.09
  • Parcel Description: Level
  • Type of Sale: Traditional
  • Can Be Subdivided: Yes
  • Type Use: Commercial, Office
  • Special Features: None
  • Year Built: 1925

Exterior Features

  • Road Frontage: City

Utilities

  • Water Utilities: City
  • Sewer Type: City

Schools

  • School District: South Bend Community School Corp.
  • Elementary School: Lincoln
  • Middle School: Lasalle Academy
  • High School: Riley

Lot Info

  • Lot Dimensions: 114X163
  • Estimated Lot Sq Ft: 16988
  • Estimated Lot Size Acres: 0.39

Tax Info

  • Annual Taxes: 3086

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 25, 2017
Closed on
Dec 3, 2018
Sold by
Dnm Properties Llc
Bought by
Delta 1 Properties Llc
Seller's Agent
John Piraccini
Coldwell Banker Real Estate Group
Buyer's Agent
Chris Warter
Premier Properties of Michiana Inc.
List Price
$75,000
Sold Price
$52,500
Premium/Discount to List
-$22,500
-30%
Total Days on Market
671
Current Estimated Value
$86,016

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$33,516
Avg. Annual Appreciation
7.93%

Purchase Details

Closed on
Mar 26, 2015
Sold by
St Joseph County Sheriff
Bought by
Pennymac Loan Services Llc

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Delta 1 Properties Llc -- Metropolitan Title
Pennymac Loan Services Llc $10,080 --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/03/2018 12/03/18 Sold $52,500 -30.0% $8 / Sq Ft
11/27/2018 11/27/18 Pending -- -- --
01/25/2017 01/25/17 For Sale $75,000 -- $12 / Sq Ft
Source: Indiana Regional MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $433 $12,000 $12,000 --
2023 $435 $12,800 $12,000 $800
2022 $435 $12,800 $12,000 $800
2021 $432 $12,700 $12,000 $700
2020 $432 $12,700 $12,000 $700
2019 $1,095 $36,500 $12,000 $24,500
2018 $1,236 $36,500 $12,000 $24,500
2017 $1,264 $36,100 $12,000 $24,100
2016 $1,282 $36,100 $12,000 $24,100
2014 $1,301 $36,000 $12,000 $24,000
2013 $1,303 $36,000 $12,000 $24,000
Source: Public Records

Agents Affiliated with this Home

  • John Piraccini

    Seller's Agent in 2018

    John Piraccini

    Coldwell Banker Real Estate Group

    74 Total Sales

    John Piraccini
    Section Image
  • Chris Warter

    Buyer's Agent in 2018

    Chris Warter

    Premier Properties of Michiana Inc.

    (574) 329-0463

    13 Total Sales

    Chris Warter
    Section Image
See All Agents

Map

Source: Indiana Regional MLS

MLS Number: 201732854

Indiana Regional MLS

APN: 71-08-13-305-006.000-026

Indiana St Joseph County South Bend 46613

1601 S Michigan St, South Bend, IN

Homes for Sale in South Bend, IN

This home is located at 1601 S Michigan St, South Bend, IN 46613 since 25 January 2017 and is currently estimated at $86,016, approximately $13 per square foot. This property was built in 1925. 1601 S Michigan St is a home located in St. Joseph County with nearby schools including Monroe Primary Center, Jackson Middle School, and Riley High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Indiana Regional MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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