55 W Water St, Wabash, IN

Real Estate

For Sale

Listed price in listed location currency (USD).

010

MLS® 202546266

Key Facts
Description
Map

Key Facts

Type Mixed Use

Levels Commercial Sale

Size -

Garage No

HOA Fees

Taxes

Days Active 32

Approx. Age 1890

MLS® Number 202546266

Property Address: 55 W Water St, Wabash, IN, 46992-3339

Average square foot calculated using Size range provided by listing agent.

Description

A Rare Chance to Revitalize a Landmark in the Heart of Historic Wabash. Constructed in 1890 of rough-hewn Indiana limestone, the iconic Sposeep Building stands as one of the community’s most distinctive remaining industrial-era structures. Located on Water Street—just one block south of the downtown commercial district—this commanding 3-story building (plus full basement) offers approximately 3, 276 sq ft per floor and showcases remarkable original features throughout: massive, exposed timber beams and columns, rustic limestone walls inside and out, original plank wood flooring, and ceiling heights ranging from 10–13 feet. Set on a prominent corner lot, the building’s expansive open floor plans provide exceptional flexibility for adaptive reuse—studio or workshop space, creative offices, gallery, mixed commercial concepts, or other visionary pursuits suitable to local guidelines. Its character-rich envelope and authentic industrial detailing make it an extraordinary canvas for a buyer committed to sensitive restoration and preservation. The property previously underwent IDEM-guided environmental remediation due to historic industrial use. Documentation, reports, and ongoing use limitations are available in the attached environmental and remediation records. Any acceptable purchase offer will require final approval from both the City of Wabash Redevelopment Commission and the Indiana Landmarks Foundation Board of Directors. The property will be subject to protective covenants & right of first refusal. This is a significant opportunity for a preservation-minded buyer to bring new life to one of Wabash’s most recognizable historic structures while contributing to the continued revitalization of the downtown district.

MLS® Number202546266

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1890

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

No personal property included.

Similar Listings

Price History

-End Date

Not Sold YetSold Price

For Sale

Nov 16, 2025List Date

$1List Price

Commute

Commute

Starting Address

Destination Address

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