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5 N Pike Street

Vernon, IN 47282

PendingListed Mar 10, 2025 · 584 days on market

Key facts

Living area
7,830 sqft
Lot
0.1 acres
Year built
1880
Type
Commercial Sale · Mixed Use
MLS #
22026267
County
Jennings
Total building area
7,830 sqft

About this home

The building was the first commercial structure to be constructed in Vernon's commercial district following a devastating fire in 1859 which consumed the entire block along Pike Street, across from the Jennings County Courthouse. The "new", 3-story, Odd Fellows Building, also referred to as Mt. Ida Lodge # 73, was completed in 1860 and was one of two matching buildings that bookend the town's one-block commercial district. The building was built by contractor Samuel Read who constructed the Jennings County Courthouse. Read resided for a time on the second floor of the building. The third floor houses the Odd Fellows Lodge rooms and the first floor was occupied by a tin shop owned by James H. Wells. An attorney, William Hagins, also occupied the building. The three story masonry building is a contributing structure in the Vernon Historic District which is listed on the National Register of Historic Places. Rehabilitation work is eligible for the Federal 20% Rehabilitation Tax Credit. Property sold with preservation covenants attached to deed requiring approval by Indiana Landmarks for exterior changes and interior rehab. Interior woodwork around doors and windows at the second and third stories to be retained in rehabilitation. The property was acquired by Indiana Landmarks in December 2023 and the following work was undertaken: Selective masonry repointing, including significant work at parapet level; new dimensional shingle roof and guttering; rebuilt and painted side cornice with custom fabricated corbels, new authentic custom wooden window sashes at 3rd floor level with salvage antique window locks, some new window sashes on second floor, Significant interior clean-up of trash and debris, rebuilt 1st floor wooden floor system south side storefront space with repointed foundation stones, poured concrete foundation with perimeter drain and sum pump pit. New second floor floor system at NE corner of building at second level. Call to schedule your showing today!

Description provided by the listing brokerage.

Exterior

Roof
Asphalt

Systems

Utilities
Natural Gas AvailableSewer ConnectedWater Connected

Lot and HOA

Zoning
commercial

Schools

Middle school
Jennings County Middle School
High school
Jennings County High School
School district
Jennings County School Corporation

Taxes

Estimated annual tax
$502 / yearTwice the semi-annual installment the listing reports.
Tax year
2024

Estimate your monthly payment

$1,119per month, estimated
Principal and interest $1,008Property tax $42Insurance $70
20% · $39,980
6.47%
Loan type
Loan term

Estimates only. This calculator does not give a quote. Defaults reflect Marion County / Indianapolis averages: property tax from this home's actual county bill, homeowners insurance at 0.42% annually. Conventional: PMI runs 0.55% of the loan annually when your down payment is below 20%, and drops automatically at 22% equity. Your real number depends on credit, taxes assessed for the parcel, escrow, condo insurance, and HOA. Rates as of May 2026 and subject to change.

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Listed at$199,900
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