514 Lake Shore Drive Michigan City, IN $ 995,000
514 Lake Shore Drive
$ 995,000
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514 Lake Shore Drive

Michigan City, IN, 46360
$ 995,000
Bedrooms7 Baths7.0

Monthly Estimate*

$ 6,208

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Multi-Family Home for sale in Michigan City, IN

for $995,000 with 7 bedrooms and 7 full baths. This home was built in 1919 on a lot size of 0.0837.

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.

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Multi-Family Active

Price

$ 995,000

Bedrooms

7

Full Bath

7

Property Type

Multi-Family

Taxes

$ 9,674

Style

Apartment

Lot Size

0.0837

Year Built

1919

Town/City

Michigan City

County/Region

La Porte

MLS | Web ID

830554

Features
Interior
Interior Amenities None
Fireplace Y/N N
Above Grade Finished Area 3714
Total Bedrooms 7
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General
Sewer Public Sewer
Heating Other
Utilities Electricity Connected Water Connected Sewer Connected Natural Gas Connected
Appliances None
Pets Allowed No
Year Built 1919
View Neighborhood
Township Michigan
Levels Two
Property Subtype Apartment
Tax Year 2024
County La Porte
New Construction N
Property Type Residential Income
Subdivision Name Sheridan Bch Park Add
Garage Y/N N
Full Baths 7
Status Active
Directions From US 12 E turn left toward Franklin St Franklin St turns right and becomes Lake Shore Dr. Home will be on the left.
City Michigan City
High School District Michigan City
Lot Size Square Feet 3648
Listing Terms Cash Other Conventional
Tax Annual Amount 9674.7
Standard Status Active
Total Actual Rent 75900
Legal Description 42-01-21-311-018 SHERIDAN BCH PK ADD E END LTS 5 & 6 BLK 5
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Exterior
Exterior Amenities None
Lot Features Other
Water Source Public
Lot Size Acres 0.0837
Lot Size Source Assessor
Waterfront Y/N N
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* Excluded Features
List By
Kimberly Sut

Listing Agent

Listing Leaders Executive Re

Broker

kimberlysutnwi@gmail.com

Email

Affordability Calculator

$7,014
Per Month
89%
11%
0%
Monthly Principal & Interest
$6,208
Monthly Property Taxes
$806
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4001580 Elementary School
4001645 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
12/5/2025$995,000 -2.45% Price Down
11/8/2025$1,020,000 Listed Price

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514 Lake Shore Drive, Michigan City, IN, 46360 is a Multi-Family Home for sale at $995,000 with a lot size of 0.0837. 514 Lake Shore Drive has 7 bedrooms, 7.0 baths, and was built in 1919. The property's zip code is 46360 which is in Michigan City, IN