228 Main St Racine, WI 53403
Downtown Racine NeighborhoodEstimated payment $4,207/month
Highlights
- Display Windows
- Handicap Accessible
- Carpet
- Storage
- Central Air
About This Home
This is a rare opportunity to acquire a spectacular income-generating building (restaurant business not included) in Downtown Racine, just steps from Lake Michigan. Featuring historic architecture, the almost 5,000 sqft building with coveted Cream City Brick has been kept in superb condition. A reliable, established restaurant leases the desirable street-level space, while the upstairs features two top-rated AirBNB apartments for immediate high-yield cash flow. Each one-bedroom apartment is 1,200 sqft or there is an adjoining door to combine. Units have been updated including modern amenities, plus tenants and patrons alike benefit from a convenient, attached parking structure. Don't let this investment opportunity pass you by. Apt1 currently rented MTM thru 4/1/2026 at $1,250 per month.
Listing Agent
Anthony Veranth
Mahler Sotheby's International Realty License #50887-94 Listed on: 12/03/2025
Property Details
Property Type
- Other
Est. Annual Taxes
- $10,334
Lot Details
- 2,178 Sq Ft Lot
- Sprinkler System
Home Design
- Brick Exterior Construction
- Composition Roof
Interior Spaces
- 4,872 Sq Ft Home
- Display Windows
- Storage
- Carpet
- Basement Fills Entire Space Under The House
Accessible Home Design
- Handicap Accessible
Utilities
- Central Air
- Fuel Tank
Community Details
- Office
- Gross Income $87,874
- Security Lighting
Listing and Financial Details
- Exclusions: Seller and tenants personal property
- Assessor Parcel Number 00075000
Map
Home Values in the Area
Average Home Value in this Area
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 | $10,334 | $391,000 | $19,000 | $372,000 |
| 2023 | $11,269 | $391,000 | $19,000 | $372,000 |
| 2022 | $10,361 | $373,000 | $19,000 | $354,000 |
| 2021 | $11,916 | $373,000 | $19,000 | $354,000 |
| 2020 | $10,309 | $340,000 | $19,000 | $321,000 |
| 2019 | $9,787 | $324,000 | $19,000 | $305,000 |
| 2018 | $10,245 | $324,000 | $19,000 | $305,000 |
| 2017 | $10,446 | $324,000 | $19,000 | $305,000 |
| 2016 | $10,681 | $324,000 | $19,000 | $305,000 |
| 2015 | $10,264 | $324,000 | $19,000 | $305,000 |
| 2014 | $10,264 | $324,000 | $19,000 | $305,000 |
| 2013 | $10,264 | $324,000 | $19,000 | $305,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/03/2025 12/03/25 | For Sale | $650,000 | -- | $133 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | Landmark Title | |
| Land Contract | $324,000 | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $250,000 | New Conventional | |
| Previous Owner | $324,000 | Land Contract Argmt. Of Sale |
Source: Metro MLS
MLS Number: 1944416
APN: 276-000000075000
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Ask me questions while you tour the home.