505 Grant Avenue, Chesterton, IN 46304
$1,137,000
Property Type:
Commercial Sale
Square Footage:
17,000
Lot Size (sq. ft.):
70,872
Status:
Closed
Current Price:
$1,137,000
List Date:
1/13/2022
Last Modified:
2/24/2024
Overview
Description
Listing Details MLS# 505843
General Property Information
- Living Area
- 17000
- Building Area Source
- Assessor
- Year Built
- 1918
- Lot Size Acres
- 1.627
- Lot Size Square Feet
- 70872
- Lot Size Dimensions
- 787 x 90
- Stories
- 2
Property Features
Building Features:
Mixed Use; Multi Tenant; Private Restrooms; Skylight(s); Other
Construction Materials:
Block; Frame; Steel Siding
Cooling:
Central Air; Zoned
Current Use:
Mini-Storage; Mixed Use; Office; Warehouse
Electric:
200+ Amp Service; Separate Meters
Flooring:
Carpet; Concrete; Tile; Varies
Foundation Details:
Concrete Perimeter
Heating:
Ceiling; Forced Air; Natural Gas; Zoned
Interior Features:
Elevator
Listing Terms:
Conventional
Lot Features:
Corner Lot
Parking Features:
Gated
Possession:
Close Of Escrow; Subject To Tenant Rights
Possible Use:
Industrial; Mini-Storage; Office; Warehouse
Rail Availability:
None
Road Frontage Type:
City Street
Roof:
Mixed; Rubber
Security Features:
Fire Alarm; Security Gate
Tenant Pays:
None
Utilities:
Cable Available; Electricity Available; Electricity Connected; Natural Gas Available; Natural Gas Connected; Sewer Connected; Water Connected
Water Source:
Public
Showing Requirements:
24 Hour Notice; Listing Agent Must Accompany
Contract Information
- Auction YN
- No
- Original List Price
- 1950000
- Property Sub Type
- Industrial
- Property Attached YN
- No
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 505
- Street Name
- Grant
- Street Suffix
- Avenue
- County
- Porter
- State
- IN
- Postal Code
- 46304
- Subdivision Name
- N/A
Remarks and Miscellaneous
- Public Remarks
- This is a mixed use property zoned I-1. This commercial building is fully rented with multiple tenants used for offices and warehouse space. There are 36 storage units of various sizes constructed in 2021 with potential for future building or self storage expansion on the property. In addition, outdoor parking spaces and a climate controlled garage facility are in place.Included is also the purchase of a leased up self storage business, it's software, brand, and business system.This is the largest commercial plot available zoned I-1 near downtown area in Chesterton.
Status Change Information
- Major Change Timestamp
- 2024-02-18T02:07:34Z
- Major Change Type
- Price Reduced
- Price Change Timestamp
- 2024-02-18T02:07:34Z
- Status Change Timestamp
- 2023-03-31
- Offer Acceptance Date
- 2022-11-18
- Close Date
- 2023-03-31
- Close Price
- 1137000
- Concessions
- No
- Buyer Financing
- Conventional
More Information
Building Features
- Building Dimensions
- 200 x 75
- Clear Ceiling Height
- 20'
- Number of Offices
- 10
- Mixed Use
- Yes
- Multi Tenant
- Yes
- Private Restrooms
- Yes
- Skylight(s)
- Yes
- Other
- Yes
Exemption Information
- Exemption YN
- N
Frontage Type
- Frontage Length
- 787
Income and Expenses
- Electric Expense
- 10000
- Expense Year
- 2021
- Gross Scheduled Income
- 179400
- Insurance Expense
- 3000
- Net Operating Income
- 148482
- New Taxes Expense
- 8719
- Sewer Expense
- 600
- Total Actual Rent
- 179400
- Trash Expense
- 850
- Water Expense
- 360
- Gross Income
- 0
- Maintenance Expense
- 0
- Manager Expense
- 0
- Other Expense
- 0
- Professional Management Expense
- 0
- Supplies Expense
- 0
Showing Requirements
- Showing Instructions
- Call listing agent for appointment. LA to be present.
- 24 Hour Notice
- Yes
- Listing Agent Must Accompany
- Yes
Historical Information
- Public Historical Remarks
- Zoning: INDUS, Utilities: On, Roof Structure: Pitched, Fire Protect: Fire Extinguishers, Overhead Doors:
Location, Tax, and Legal
- Postal Code +4
- 2361
- Tax Legal Description
- Legal Description: O S OUTLOTS STRIP S OF LOTS 1-3 BLK 1S 1/2 36-37-6 & PARC LYING N OF RR W OF & FOURTH & S OF GRANT ST O S TO CHESTERTON S 1/2 36-37-6 .63 AC PER SURVEY6
- Parcel Number
- 640336328004000023
- Zoning Description
- Industrial
- Township
- Westchester
- Directions
- Calumet Road to Grant Ave West to property or Broadway to 4th St., North to Grant to property.
- Cross Street
- 4th Street
Construction Materials
- Block
- Yes
- Frame
- Yes
- Steel Siding
- Yes
Cooling
- Central Air
- Yes
- Zoned
- Yes
Electric
- 200+ Amp Service
- Yes
- Separate Meters
- Yes
Flooring
- Carpet
- Yes
- Concrete
- Yes
- Tile
- Yes
- Varies
- Yes
Foundation Details
- Concrete Perimeter
- Yes
Heating
- Ceiling
- Yes
- Forced Air
- Yes
- Natural Gas
- Yes
- Zoned
- Yes
Interior Features
- Elevator
- Yes
Listing Terms
- Conventional
- Yes
Lot Features
- Corner Lot
- Yes
Parking Features
- Gated
- Yes
Possession
- Close Of Escrow
- Yes
- Subject To Tenant Rights
- Yes
Road Frontage Type
- City Street
- Yes
Roof
- Mixed
- Yes
- Rubber
- Yes
Security Features
- Fire Alarm
- Yes
- Security Gate
- Yes
Utilities
- Cable Available
- Yes
- Electricity Available
- Yes
- Electricity Connected
- Yes
- Natural Gas Available
- Yes
- Natural Gas Connected
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Water Source
- Public
- Yes
Auction
- Minimum Opening Bid
- 0
- Buyer Premium Amount
- 0
Tenant Pays
- None
- Yes
Current Use
- Mini-Storage
- Yes
- Mixed Use
- Yes
- Office
- Yes
- Warehouse
- Yes
Possible Use
- Industrial
- Yes
- Mini-Storage
- Yes
- Office
- Yes
- Warehouse
- Yes
Rail Availability
- None
- Yes
Listing Office:
CHERYL Real Estate Services, L
Last Updated: February - 24 - 2024
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