514 Lake Shore Dr Michigan City, IN 46360
Estimated payment $6,040/month
About This Home
Investors! - Income-Producing Opportunity 1 block from Sheridan Beach! Welcome to 514 Lakeshore Drive, Michigan City, Indiana -- a prime investment opportunity just minutes from Lake Michigan, downtown shops, and the vibrant Uptown Arts District. This property offers excellent potential for steady rental income, short-term rentals, or future redevelopment in a sought-after area near the beach and marina. Whether you're looking to expand your investment portfolio or secure your first cash-flowing property, this location provides consistent tenant demand thanks to its proximity to Blue Chip Casino, Washington Park, and the South Shore Train Station with easy access to Chicago commuters. Property Highlights: Located in the heart of Michigan City's growth corridor Walking distance to Lake Michigan beaches Minutes from shopping, dining, and entertainment Solid potential for value appreciation as redevelopment continues nearby Don't miss this opportunity to own property in one of Northwest Indiana's hottest investment markets. Updates have been made the units, roof and major mechanicals.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $9,675
Year Built
- Built in 1919
Interior Spaces
- 3,714 Sq Ft Home
- 2-Story Property
- Neighborhood Views
- Basement
Bedrooms and Bathrooms
- 7 Bedrooms
- 7 Full Bathrooms
Listing and Financial Details
- Tenant pays for all utilities
- Assessor Parcel Number 460121311018000022
Community Details
Overview
- 7 Units
- Sheridan Bch Park Add Subdivision
Pet Policy
- No Pets Allowed
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/05/2025 12/05/25 | Price Changed | $995,000 | -2.5% | $268 / Sq Ft |
| 11/08/2025 11/08/25 | For Sale | $1,020,000 | -- | $275 / Sq Ft |
Source: Northwest Indiana Association of REALTORS®
MLS Number: 830554
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.
Copyright 2025 MuItiple Listing Service of the Northwest Indiana Realtors Association Multiple Listing Service (NIRA MLS). All rights reserved. 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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