Museum-Quality Exterior, Blank Interior Canvas: The 1890 Indiana Landmark Reborn

For dedicated preservationists who dream of resurrecting a grand piece of Midwestern history, 196 E Main St in Wabash, Indiana, offers an unmatched and deeply rewarding project.

Priced at $153,000, this monumental 3,692-square-foot Queen Anne Victorian is a textbook example of late-19th-century architecture. Backed by Indiana Landmarks and featuring significant exterior restoration already completed, this property is a blank interior canvas waiting for a high-integrity overhaul.

A Restored Protective Shell

The most daunting part of historic restoration is often stabilizing a century-old exterior. At this property, the critical structural heavy lifting has already been executed to museum-quality standards:

Protected Heritage: The property is secured by an Exterior Covenant held by Indiana Landmarks, ensuring its definitive architectural lines, gables, and period details are legally preserved for future generations.

Modern Efficiency, Historic Profile: A major investment has already been made on the main level, where missing or damaged sashes have been replaced with custom-fitted Andersen windows designed to precisely replicate the original historic profile.

The Crown Jewel Porch: The intricate, ornate front porch has been beautifully restored, showcasing period-correct spindles, millwork, and custom fretwork that provides arresting curb appeal.

Unlimited Interior Flexibility

Inside, the home is a total rehab project requiring complete updates to plumbing, electrical, HVAC, flooring, and walls. However, the sheer scale across the two main floors—plus a massive third-floor attic and full basement—offers a rare architectural layout.

Originally configured as a duplex, the home includes two kitchens, two dining rooms, two living rooms, and six second-floor bedrooms. This footprint gives the next steward immense flexibility:

A Grand Single-Family Estate: Reconfigure the layout into a singular, sprawling residential masterpiece.

A Luxury Multi-Unit Income Property: Maintain the duplex layout to generate premium rental income or establish a dedicated multi-generational homestead.

Despite being stripped for renovation, the home still holds invaluable original elements, including portions of the grand central staircase, deep original trimwork, and two massive, beautifully carved oak fireplace mantels that will serve as the focal points of the future restoration.

The Preservation Pact & Financial Incentive

Because of its immense historical weight, this landmark is reserved for serious buyers. Prospective owners must provide pre-approval for both the acquisition and the estimated renovation costs. Additionally, a comprehensive restoration plan must be submitted to and approved by the Historic Landmarks Foundation Board of Directors prior to the acceptance of any offer.

To reward a high-quality restoration, a $10,000 cash credit will be awarded to the buyer upon completion of the renovations within 18 months of purchase, provided the City of Wabash issues a valid occupancy permit.

Property At A Glance

Price: $153,000

Size: ~3,692 sq. ft. | 6 Beds | 2 Kitchens/Parlors

Features: Attached 2-Stall Garage | Massive Unfinished Attic & Basement

Stewardship: Subject to Indiana Landmarks Exterior Covenant | $10,000 Renovation Credit Available

Opportunities to acquire a structurally stabilized, legally protected 1890 Queen Anne estate with an attached two-car garage are a true rarity. If you possess the vision, resources, and passion to write the next chapter of this Wabash icon, your masterpiece is waiting.