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For Sale

First Presbyterian Elwood

223 Main St, Elwood, IN 46036

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.

Key features

  • 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.
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

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Contacts

broker
Raechelle Susemichel

Indiana Realty

Building Details

  • For Sale $670,000
  • 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

Attachments

  • Property Brochure 1 ()opens in new window

Getting Around

  • Walk Score ®

    Car-Dependent (22)
  • Bike Score ®

    Somewhat Bikeable (36)
Powered by Walk Score ®

Location

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

Points of Interest

Speedway

1.44 miles

McClure Oil

2.52 miles

Casey's General Store

9.20 miles

Mobil

9.74 miles

Bonges Tavern

9.18 miles

The Shack

9.46 miles

South Pole

9.63 miles

Pizza King

9.67 miles

Subway

9.67 miles

Faye's Northside Cafe

9.70 miles

Jim Dandy

9.77 miles

McDonald's

9.87 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

Pipe Creek Station 2

5.68 miles

CVS Pharmacy

9.19 miles

Tipton Fire Station

9.51 miles

Tipton Public Safety Building

9.52 miles

Alexandria Fire Department

9.74 miles

Indiana University Health Tipton Hospital

9.74 miles

Alexandria Police Department

9.83 miles

223 Main St Listing Summary

  • What is the asking price at First Presbyterian Elwood?

    First Presbyterian Elwood is currently listed for sale at Contact for pricing.

  • What is the total size of First Presbyterian Elwood?

    First Presbyterian Elwood has a total of 4,461 square feet.

  • What is the year built for First Presbyterian Elwood?

    The year built for First Presbyterian Elwood is 1992.

Contact Listing Broker
broker
Raechelle Susemichel

Indiana Realty

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