March 7, 2023 – Anthony Spangler and Andrew O’Connell of Horvath & Tremblay have successfully completed the sale of a four-unit multi-family property in Merrillville, Indiana. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $420,000.
The residential building is located at 400 West 70th Place in Merrillville, Indiana. The Property is improved by a two-story brick multi-family building containing four (4) 2-Bedroom/1-Bathroom residential units with 5,000 square feet of living area in 8,000 total gross square feet. The well-maintained building was constructed in 1970 on a large 0.60-acre corner parcel with ample on-site surface parking and five (5) garage bays. The Property also features an on-site laundry facility, and ample green space for the tenants. The Property is located along a tree-lined street in a quiet residential neighborhood. The tenants benefit from an attractive, well-maintained building with ample green space. The Property also benefits from its proximity to Broadway (IN Route 53) and US Highway 30, the area’s two primary commercial corridors. The commercial area is home to countless businesses and retailers including restaurants (Starbucks, McDonald’s, Wendy’s, and Panera), Pharmacies (Walgreens and CVS), Supermarkets (Meijer, Ruler Foods and Aldi), and Big-Box Retailers (Walmart, Target and Costco). The Property is also a short commute from Indiana University – Northwest Campus with more than 6,000 students. Additionally, the property benefits from a highly sought-after school district and is within 0.75-miles of three area schools (Merrillville High School, Pierce Middle School, and Homer Iddings Elementary School. The property is in Merrillville, Indiana which is a South Suburb of Chicago located along the border of Illinois and Indiana. The property is close to IN Route 53 and US Highway 30, the area’s primary commercial corridors and has convenient access to the Interstate 65, which connects to Interstates 94 and 90. The quick highway access provides easy accessibility to both the Chicago Metro area and Northwest Indiana.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.