With a $5 million budget in Indiana, you can expect to find sprawling estates, grand mansions, and breathtaking properties that offer an incredible mix of space, luxury, and exclusivity.

Unlike high-cost real estate markets where this amount might buy a modest home or a condo, Indiana offers exceptional value, with properties featuring expansive acreage, private lakes, equestrian facilities, state-of-the-art smart-home technology, and resort-style amenities.

Whether you’re drawn to a modern architectural masterpiece, a historic estate with timeless charm, or a secluded retreat surrounded by nature, the options are diverse and impressive. Here’s a look at four remarkable properties that showcase just how far $5 million can go in the Hoosier State.

4. Zionsville, IN – $4,500,000

This 2020 Home-A-Rama show home boasts 8,441 sq. ft. of luxury living with 7 bedrooms and 8 bathrooms, delivering modern comfort at every turn. The primary suite offers a spa-like bathroom and generous closet space, ensuring a serene retreat. Entertainment is effortless with a state-of-the-art home theater, while a home gym caters to an active lifestyle. Multiple, thoughtfully placed laundry areas streamline daily tasks for optimum convenience. Completing the allure, the fenced backyard and upper-level decks provide privacy and breathtaking golf course views, creating a picturesque outdoor haven.

Where is Zionsville?

Zionsville is a suburban town located northwest of Indianapolis in Boone County. It is known for its small-town charm, historic brick-paved Main Street, and a strong sense of community. The town is part of the Indianapolis metropolitan area, offering easy access to the city’s amenities while maintaining a quieter, upscale residential environment. With highly rated schools, parks, and nature trails, Zionsville is a sought-after location for families and professionals.

Living Room

This seven-bedroom, eight-bathroom home features a spacious living room with soaring ceilings, large windows, and an open-concept design. A floor-to-ceiling brick fireplace serves as a focal point, complemented by built-in shelving and modern furnishings. The upper-level balcony overlooks the main space, while expansive windows and glass doors provide natural light and views of the surrounding property.

Kitchen

The kitchen in this home features a spacious island, custom cabinetry, and high-end appliances, seamlessly connecting to the dining area for an open and functional layout. Thoughtful lighting, ample storage, and premium finishes enhance the space’s design. It’s part of a seven-bedroom and eight-bathroom home, offering both style and comfort throughout.

Dining Room

The dining area showcases a round table with upholstered chairs, a bold chandelier, and a glass-enclosed wine display as a focal point. This home features seven bedrooms and eight bathrooms, offering a blend of modern design and comfortable living. Built-in shelving and large windows enhance the space with both functionality and natural light.

Theater

This private home theater features a large projection screen, plush sectional seating, and a built-in bar for an immersive entertainment experience. Soft lighting, dark-paneled walls, and a star-lit ceiling create a cozy and cinematic atmosphere. Part of a seven-bedroom, eight-bathroom home, this space blends luxury and comfort for the ultimate movie night.

Aerial View

Located in a picturesque golf course community, this seven-bedroom, eight-bathroom home sits on a well-manicured corner lot. The property features modern architecture, lush landscaping, and access to winding streets lined with luxury homes. With green spaces and scenic views, it offers both privacy and a strong neighborhood appeal.

Listing Agent: Traci Garontakos @ The Agency Indy via Coldwell Banker Realty

3. Indianapolis, IN – $4,950,000

This gated estate, built in 1982, sits on 5.5 acres with 1,250 feet of water frontage on Eagle Creek Reservoir, offering breathtaking panoramic views. The 10,761 sq. ft. home features 4 bedrooms and 7 bathrooms, creating a spacious and luxurious retreat. Outdoor amenities include a koi pond, a Gunite swimming pool and spa with a cabana, and a tennis court with its own cabana. Inside, the grand great room boasts bay windows, a vaulted ceiling with exposed beams, a built-in aquarium, a fireplace, and a bar area with access to the backyard oasis. Additional highlights include a cozy wood-paneled den with a marble fireplace and a gourmet kitchen equipped with high-end appliances and a sunlit breakfast nook.

Where is Indianapolis?

Indianapolis is the capital and largest city of Indiana, located in the central part of the state. It sits at the crossroads of several major highways, making it a key transportation hub in the Midwest. The city is known for hosting the Indianapolis 500, one of the world’s most famous auto races, and for its vibrant sports culture, home to the NFL’s Colts and the NBA’s Pacers. With a mix of urban development, historic neighborhoods, and a growing economy, Indianapolis blends Midwestern charm with big-city amenities.

Living Room

This four-bedroom, seven-bathroom home features a spacious living room with a vaulted ceiling and exposed wooden beams. Floor-to-ceiling windows bring in natural light and offer views of the outdoors, while a large sectional sofa, a grand piano, and elegant furnishings create a welcoming space. A glass display cabinet, coffee table, and decorative accents complete the room’s design.

Dining Room

The dining room features a long wooden table surrounded by eight upholstered chairs, placed on a patterned rug. A chandelier hangs from the ceiling, and a large painting is mounted on the wall, with a glass-front cabinet displaying decorative plates and vases. This home is part of a four-bedroom, seven-bathroom residence with elegant design and detailed furnishings throughout.

Bedroom

Part of a four-bedroom, seven-bathroom home, this primary bedroom features a wood-paneled ceiling and large windows that bring in natural light and outdoor views. A plush bed with decorative pillows is complemented by nightstands, a bench, and additional seating near the window. Soft carpeting and carefully placed lighting enhance the warm and relaxing atmosphere.

Bathroom

This primary bathroom, part of a four-bedroom, seven-bathroom home, features a freestanding tub positioned near large windows with shutters for privacy and natural light. Dual vanities with granite countertops provide ample space, while chandeliers and recessed lighting create a bright and elegant atmosphere. A patterned rug, seating area, and carefully placed décor add comfort and style to the space.

Outdoor Space

This four-bedroom, seven-bathroom home sits on a beautifully landscaped property with a resort-style backyard featuring a pool, waterfall, and manicured gardens. A series of walkways lead through lush greenery, connecting outdoor seating areas and relaxation spaces. The home’s expansive covered patio and floor-to-ceiling windows create a seamless blend of indoor and outdoor living.

Listing Agent: Bif Ward @ F.C. Tucker Company via Coldwell Banker Realty

2. Valparaiso, IN – $4,650,000

This luxurious 16,228 sq. ft. estate, including a 2,000 sq. ft. guest house, sits on a secluded 7-acre property with rolling landscapes, a pool, and tennis courts. Built with a French country brick and stone façade, the home features 6 bedrooms and 10 bathrooms across four levels, with grand architectural details like a 26′ coffered ceiling in the library and a wood-and-iron circular staircase in the gathering room. The gourmet kitchen, outfitted with Mouser custom cabinetry and top-tier appliances, connects to a morning room with a fireplace, a breakfast room, and a spacious service wing with a mudroom and hobby/laundry room. The main-floor primary suite boasts a vaulted ceiling, a sitting area, a lavish 16×18 walk-in closet, and an ensuite bath with marble and hand-carved trim. The lower level is an entertainer’s dream, featuring a hand-carved bar, a 12-seat home theater with a honeycomb ceiling, a spa with a built-in jacuzzi, dry and steam saunas, a billiard room, and direct walk-out access to the landscaped grounds with outdoor entertainment spaces.

Where is Valparaiso?

Valparaiso is a city in northwest Indiana, located about 50 miles southeast of Chicago and 15 miles from the southern shore of Lake Michigan. It serves as the county seat of Porter County and is home to Valparaiso University, a well-known private institution. The city is part of the Chicago metropolitan area and offers a mix of suburban living, historic charm, and a growing economy. With parks, cultural events, and a thriving downtown, Valparaiso is a popular destination for families, students, and professionals.

Foyer

This home, part of a six-bedroom, ten-bathroom estate, features a grand curved staircase with intricate wrought iron railings and rich wood paneling. Floor-to-ceiling windows surround the space, filling it with natural light and offering scenic views. Warm lighting fixtures and detailed craftsmanship enhance the timeless design.

Living Room

This six-bedroom, ten-bathroom home includes a sitting area with a vaulted wood-paneled ceiling and expansive windows. A brick fireplace with an iron screen adds warmth, while French doors lead to a private balcony with scenic views. The combination of natural light and rich textures creates a comfortable and inviting space.

Kitchen

The kitchen features custom wood cabinetry, stone accents, and a large granite island, creating a balance of elegance and functionality. A copper farmhouse sink, professional-grade range, and an open layout make the space ideal for entertaining. This home includes six bedrooms and ten bathrooms, offering a spacious living experience.

Bedroom

With a vaulted wood-paneled ceiling and warm-toned walls, this primary bedroom offers a spacious and inviting retreat. French doors lead to a private balcony, while large windows fill the room with natural light. Part of a six-bedroom, ten-bathroom home, this space blends luxury and comfort seamlessly.

Aerial View

Set on a sprawling estate, this property features a private driveway, manicured landscaping, and a resort-style swimming pool with a separate pool house. Expansive green spaces and thoughtfully designed gardens create a serene and picturesque setting. This six-bedroom, ten-bathroom home combines luxury, privacy, and exceptional amenities for a refined living experience.

Listing Agent: Keith Goad @ Berkshire Hathaway Homeservice via Coldwell Banker Realty

1. Evansville, IN – $4,900,000

Built in 1997, this impressive estate encompasses 35 acres of picturesque countryside, highlighted by a private lake and an equestrian center featuring a show barn, riding arena, and two additional horse barns. The spacious 10,761 sq. ft. residence includes 4 bedrooms—each with its own ensuite—plus 7 bathrooms in total, a grand two-story great room with dramatic curved staircases, a chef-inspired kitchen, an elegant dining room, a welcoming family room, and a massive master suite with an adjacent fitness room. The second floor hosts 4 additional bedrooms, 2 sizable offices, a billiards room, a game room, and a media room, while the third floor offers generous storage for off-season items. A basement adds even more storage capacity, along with a secure vault and a wine cellar. The property also boasts a luxurious pool area, a guest house, and both attached and detached garages providing room for 14 cars.

Where is Evansville?

Evansville is a city in the southwestern part of the state, located along the Ohio River. It is the third-largest city in Indiana and serves as the economic and cultural hub of the region. Home to the University of Southern Indiana and the University of Evansville, the city offers a mix of education, healthcare, and industrial development. With a historic downtown, riverfront attractions, and a strong business presence, Evansville is a key city in the Tri-State area, bordering Kentucky and Illinois.

Living Room

This grand living room features soaring ceilings, floor-to-ceiling windows, and intricate architectural details, including stately columns and drapery. A central fireplace, luxurious seating arrangements, and a grand piano enhance the opulent ambiance. Part of a four-bedroom, seven-bathroom home, this space combines classic elegance with modern sophistication.

Dining Room

With intricate ceiling moldings, a grand chandelier, and a long polished dining table, this formal dining room exudes elegance. A decorative fireplace, ornate china cabinet, and drapery add to the refined atmosphere. This space is part of a four-bedroom, seven-bathroom home designed for entertaining.

Bedroom

This primary bedroom features an upholstered bed, a fireplace, and mirrored accents. Drapery, a chandelier, and soft textures create a comfortable space. This four-bedroom, seven-bathroom home provides a functional and well-designed living area.

Office

This home office features wood-paneled walls, a coffered ceiling, and a central chandelier. A fireplace, built-in shelving, and large windows create a functional and well-lit workspace. Part of a four-bedroom, seven-bathroom home, this room blends work and comfort in a refined setting.

Aerial View

This four-bedroom, seven-bathroom home is set on a sprawling estate with a private lake, a dock, and a guesthouse along the shoreline. The property features a circular driveway, expansive grounds, and a pool, offering both privacy and recreation. Surrounded by mature trees and scenic views, this estate provides a peaceful and exclusive retreat.

Listing Agent: James Keck @ Berkshire Hathaway HomeServices Indiana Realty via Coldwell Banker Realty