518 Lincolnway 4,400 SF Retail Building La Porte, IN 46350 $295,000 ($67.05/SF)

Property Details
-Price: $295,000
-Building Size: 2,200 SF main floor + 2,000 SF basement
-Apartment: 1,200 SF, 2 bed / 1 bath
-Lot Size: 2,596 SF (22' x 118')
-Year Built: 1900
-Stories: 2
-Taxes: $2,329 (2023)
-Heating: Forced air
-Cooling: Central air
-Security: Alarm monitored
-Location: Central Business District, downtown La Porte, IN
-MLS ID: 12451497
Own a turnkey hospitality property in one of Northwest Indiana's fastest-growing small-city markets, without the overhead that comes with a Chicago address. Located just over an hour from downtown Chicago, this mixed-use building in the heart of downtown La Porte combines an established, fully equipped restaurant with a separate income-producing apartment above.
La Porte was recently ranked the 2nd Best Small City in America by USA Today for 2025, a recognition that reflects the city's historic charm, community investment, and growing economic momentum. This property, originally built in 1900, gives an owner-operator or investor a rare chance to step into a well-equipped space in that momentum without starting from scratch.
The main floor offers 2,200 square feet of restaurant space seating 54 guests, complete with a full bar, TVs, and a 23-tap system serving beer, wine, and nitro beer. The commercial kitchen includes a hood and Ansul fire suppression system, ready for immediate operation. A new operator will need to secure their own liquor license.
The basement adds another 2,000 square feet of storage and prep space, including two large walk-in coolers (7.5' x 14' for beer, 7.5' x 20' for food) and a grease trap built into the kitchen floor. The building includes two single-use restrooms and two split A/C units in the kitchen for climate control. Major infrastructure has been updated over the years, including new plumbing and water lines in 2019, a new 200-amp electrical panel in 2018, and a 2019 water heater.
Upstairs, a 1,200-square-foot, 2-bedroom, 1-bath apartment adds built-in income potential and is currently operating as an Airbnb. The unit was updated in 2019 with new appliances, HVAC, and washer/dryer.
Security and fire monitoring systems are already in place throughout the building.
Whether you're expanding a hospitality brand, relocating out of a high-cost market, or investing in a property with two income streams under one roof, 518 Lincolnway Way offers a rare combination of turnkey readiness and long-term upside.