812-453-3102
329 Main St, Evansville, IN for Sale
Apartments - FOR SALE
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329 Main St
Evansville, IN 47708
Downtown Evansville


HIGHLIGHTS

  • High end apartments - 50 units
  • Built in 1916, renovated in 2012
  • 92% occupancy

OVERVIEW

Soliciting Offers - This historic property, often referred to as the "Hilliard Lyons Building," is located in downtown Evansville and is listed on the National Register of Historic Places. Constructed in 1916, 329 Main was Evansville's first skyscraper and built by Citizens National Bank and designed by Atlanta architect William Lee Stoddart in the Chicago School Style, which used steel and stone as fireproofing materials. Now known as 329 on Main, it has been completely renovated (2012) and is home to 50 residential apartments in a mix of 1 and 2 bedroom floorplans. The building has classic charm with modern amenities such as sleek cabinetry, granite countertops, stainless steel appliances, luxury flooring, and stylish tile accents in the kitchens and bathrooms, along with upgraded lighting and fixtures. In addition to the residential units, the building contains some commercial space on the ground and basement levels. A small area on the ground level was leased at one time by the local restaurant that operated a take out window serving downtown lunch patrons, particularly the students of nearby Signature High School. A portion of the basement is set up as a bar/restaurant and even operated a small brewery at one time known as Little Cheers. It has been not been in operation for several years but still has much of the kitchen equipment in place. 329 Main also includes an approximate 1/2 AC of gated surface parking in the rear of the building for its residents.

FOR SALE DETAILS

PRICE

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# OF UNITS

50

CAP RATE

Request Cap Rate

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kunkel Square

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

11

YEAR BUILT

1912

PARKING SPACES

68

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

C-3

APN/PARCEL ID

82-06-30-020-022.011-029,82-06-30-020-022.013-029,82-06-30-020-022.014-029

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812-453-3102

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812-453-3102

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