603 Ridge Road, Munster, IN 46321
$725,000
Property Type:
Commercial Sale
Square Footage:
4,167
Lot Size (sq. ft.):
18,600
Status:
Closed
Current Price:
$725,000
List Date:
1/23/2020
Last Modified:
2/24/2024
Overview
Description
Listing Details MLS# 468871
General Property Information
- Living Area
- 4167
- Building Area Source
- Assessor
- Year Built
- 1957
- Lot Size Acres
- 0.427
- Lot Size Square Feet
- 18600
- Lot Size Dimensions
- 118x160
- Stories
- 0
Property Features
Building Features:
Exterior Lighting; Plastered Ceiling(s); Public Restrooms; Suspended Ceiling(s); Other
Construction Materials:
Brick; Frame; Stucco
Cooling:
Central Air
Current Use:
Commercial
Electric:
100 Amp Service; 150 Amp Service; 200+ Amp Service
Flooring:
Carpet; Tile
Foundation Details:
Pillar/Post/Pier
Heating:
Forced Air
Interior Features:
Elevator
Listing Terms:
Cash; Conventional; Other
Lot Features:
Corner Lot
Parking Features:
Private
Possession:
Other
Possible Use:
Commercial; Medical/Dental; Office; Retail
Rail Availability:
None
Road Frontage Type:
City Street
Roof:
Flat; Tile
Security Features:
Smoke Detector(s)
Special Licenses:
Liquor
Tenant Pays:
None
Utilities:
Electricity Available; Electricity Connected; Natural Gas Available; Natural Gas Connected; Sewer Connected; Water Connected
Contract Information
- Auction YN
- No
- Original List Price
- 875000
- Property Sub Type
- Mixed Use
- Property Attached YN
- No
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Owner
Location Tax and Legal
- Street Number
- 603
- Street Name
- Ridge
- Street Suffix
- Road
- County
- Lake
- State
- IN
- Postal Code
- 46321
- Subdivision Name
- N/A
Remarks and Miscellaneous
- Public Remarks
- Well known restaurant (54 years) in an excellent location on Ridge Rd in Munster West of Calumet. Excellent opportunity to operate a restaurant in a high density area with strong HH income with a recognizable name and location. Sale price includes 3 way liquor license and the property offers private and street parking with 3 roads wrapping around the parking and building. The restaurant offers a full bar with seating for dining as well as separate dining area. This is a unique opportunity to open / operate a full service restaurant in a market with a significantly lower investment. With the existing improvements this could be converted into office space or other retail use but is a fully functioning restaurant. Low start up costs to enter this market with a steady and loyal customer base used to dining at the restaurant. Showings preferred on Sundays while business is closed to the public. Please view pictures online before scheduling a showing. Listing Broker must be present
Status Change Information
- Major Change Timestamp
- 2020-11-03T13:34:12Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2020-11-03
- Offer Acceptance Date
- 2020-08-17
- Close Date
- 2020-11-03
- Close Price
- 725000
- Concessions
- No
- Buyer Financing
- Cash
More Information
Exemption Information
- Exemption YN
- Y
Frontage Type
- Frontage Length
- 118
Income and Expenses
- New Taxes Expense
- 12268
- Electric Expense
- 0
- Gross Income
- 0
- Gross Scheduled Income
- 0
- Insurance Expense
- 0
- Maintenance Expense
- 0
- Manager Expense
- 0
- Net Operating Income
- 0
- Other Expense
- 0
- Professional Management Expense
- 0
- Sewer Expense
- 0
- Supplies Expense
- 0
- Total Actual Rent
- 0
- Trash Expense
- 0
- Water Expense
- 0
Showing Requirements
- Showing Instructions
- Listing Broker to be present. Limited hours due to operation
Historical Information
- Public Historical Remarks
- Utilities: On
Location, Tax, and Legal
- Postal Code +4
- 1609
- Tax Legal Description
- Legal Description: PT. NE. N. OF RIDGE ROAD S.24 T.36 R.10 0.427 AC
- Parcel Number
- 450624276002000027
- Township
- North
- Directions
- Head South from Interstate 80 on Calumet Ave., hang a right and head west on Ridge road. Property is located about a half a mile down the road on the north side at the corner of Ridge and Jackson.
Construction Materials
- Brick
- Yes
- Frame
- Yes
- Stucco
- Yes
Cooling
- Central Air
- Yes
Electric
- 100 Amp Service
- Yes
- 150 Amp Service
- Yes
- 200+ Amp Service
- Yes
Flooring
- Carpet
- Yes
- Tile
- Yes
Foundation Details
- Pillar/Post/Pier
- Yes
Heating
- Forced Air
- Yes
Interior Features
- Elevator
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
- Other
- Yes
Lot Features
- Corner Lot
- Yes
Parking Features
- Private
- Yes
Possession
- Other
- Yes
Road Frontage Type
- City Street
- Yes
Roof
- Flat
- Yes
- Tile
- Yes
Security Features
- Smoke Detector(s)
- Yes
Utilities
- Electricity Available
- Yes
- Electricity Connected
- Yes
- Natural Gas Available
- Yes
- Natural Gas Connected
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Auction
- Minimum Opening Bid
- 0
- Buyer Premium Amount
- 0
Tenant Pays
- None
- Yes
Current Use
- Commercial
- Yes
Possible Use
- Commercial
- Yes
- Medical/Dental
- Yes
- Office
- Yes
- Retail
- Yes
Building Features
- Exterior Lighting
- Yes
- Plastered Ceiling(s)
- Yes
- Public Restrooms
- Yes
- Suspended Ceiling(s)
- Yes
- Other
- Yes
Rail Availability
- None
- Yes
Special Licenses
- Liquor
- Yes
Listing Office:
Wille Stiener & Brust, Inc.
Last Updated: February - 24 - 2024
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