First Presbyterian Elwood

For Sale

223 Main St, Elwood, IN 46036

This Elwood property for sale is located at 223 Main St. The current listed sale price for First Presbyterian Elwood is $670,000. First Presbyterian Elwood is situated on a lot that is 1.79 acre in size.

Contacts

Raechelle Susemichel

Indiana Realty

Property Details

  • Property Type Other - Special Purpose
  • Property Size 4,461 SF
  • Lot Size 1.79 Acre
  • Parking Spaces Avail. 64
  • Parking Ratio 14.34 / 1,000 SF
  • Year Built 1992
  • Date Updated May 26, 2026
Nestled in the welcoming community of Elwood, this area is rich in history and offers a quaint small-town charm. The location is in close proximity to local amenities such as downtown shops, dining options, and beautiful parks, providing convenience and a sense of community to its visitors. Nearby points of interest include the Elwood Opera House and the Elwood Haynes Museum, providing cultural and historical opportunities for exploration. The area's peaceful ambiance makes it an ideal setting for a special-purpose property, offering a serene and inviting atmosphere for congregants and visitors alike.Positioned prominently along Main Street, this well-maintained church property at 223 Main Street presents a unique opportunity for an owner-user, investor, or congregation seeking a new home. Classic architectural charm and functional space, the property is well-suited for continued religious use or a variety of adaptive reuse opportunities. The building offers 4461sf of interior space, and a welcoming sanctuary with [XX± seating capacity], high ceilings, and traditional design elements that create a warm and inviting atmosphere. Supporting areas include fellowship space, offices, classrooms, kitchen facilities, and additional multi-purpose rooms—ideal for community programming or administrative use. Situated on a 1.79ac parcel, the property provides a balance of building footprint and usable outdoor space. On-site parking includes approximately 80 spaces, offering convenient access for congregants, staff, and visitors. Zoned R2, the property allows for continued religious use and may support a range of alternative uses such as community center, daycare, event venue, or potential redevelopment (subject to local approvals and zoning regulations). Located in the core of downtown Elwood, the property benefits from strong visibility, easy accessibility, and proximity to local amenities. The surrounding area fosters a close-knit community environment, enhancing its appeal for both service-oriented and redevelopment-focused buyers.
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Highlights

  • 4,461 SF building
  • Adaptive Reuse Opportunity – Existing layout (sanctuary, meeting rooms, offices) lends itself well to conversion into multifamily, senior housing, community center, or mixed-use concept.
  • Ample Parking 61 on-site parking spaces provide a significant advantage over typical properties of this size, supporting high-traffic uses and future redevelopment flexibility.
  • Central Location / Visibility – Main Street frontage offers strong visibility and accessibility within the Elwood community.
  • Favorable Zoning (R2) allowing for potential residential or community-based reuse creating multiple exit strategies.
  • Limited Comparable Inventory – Unique asset type with substantial parking and central location creates scarcity value in the local market
  • Strong Value-Add Play – Opportunity to reposition or renovate the asset to increase value, especially given its size and parking capacity relative to market.

Attachments

Getting around

  • 22/100

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  • 36/100

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Location

  • City Elwood, IN
  • Zip Code 46036
  • Market Indianapolis

Points of Interest

  • Marathon

    0.99 miles

  • Speedway

    1.44 miles

  • McClure Oil

    2.52 miles

  • Casey's General Store

    9.20 miles

  • Mobil

    9.74 miles

  • East Street Inn

    9.47 miles

  • Dollar General

    6.19 miles

  • Harvest Market

    6.26 miles

  • Needler Fresh Market

    8.96 miles

  • Horton's Home & Garden

    9.68 miles

  • Horner's Midtown Market

    9.72 miles

  • Harvest Supermarket

    9.81 miles

Contact Listing Broker
Raechelle Susemichel

Indiana Realty

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