Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    1251 Monterey Drive Chesterton, IN 46304

    View on Map
    Claim this Listing
    For Sale
    $55,000

    LAND - Chesterton, IN

    Lot size:
    0.19 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    53
    Last Refresh:
    May 7 at 4:06 am

    Property Features for 1251 Monterey Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    640705329008000023
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    ESTATES OF SANDCREEK PHASE VI-A LOT 8 .19A
    Tax Annual Amount
    9

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Christina Harber

    Listing agent Christina Harber License #RB14048968

    Listing office Blackrock Real Estate Services 179 South Calumet, portage, IN

    Listing date Mar 16, 2026

    MLS# 835629 Listing URL

    Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Sand Creek Country Club Community: Enjoy access to world‑class golf, pool, tennis, fitness, dining, programs, and social activities.
    • Prime Location: Minutes from Lake Michigan and the new National Park.
    • Convenient Commute: Easy access to Chicago via car or the South Shore train.
    • Desirable Community: Located in the award‑winning Duneland school system.
    • Limited Availability: Opportunity to build in a nearly sold‑out, sought‑after phase of the subdivision.
    • Utilities Available: Water is available on the lot.

    Overview

    Residential Land in Sand Creek

    Residential land is available within the Sand Creek Country Club Community, specifically in The Highlands of Sand Creek, located on the eastern border. The Sand Creek Country Club offers amenities such as golf, a pool, tennis courts, a fitness center, dining options, and various programs and social activities. This community is located minutes away from the shores of Lake Michigan and the newest National Park. Commuting to Chicago is approximately one hour, with the South Shore train also nearby. The property is located within the Duneland school system. The lot size is approximately 0.19 acres. Reference subdivision map for Lot 8.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Auto Repair Shop Discount Store Electronics & Wireless Store Daycare Center Computer & Electronic Repair Tech Support Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chesterton
    County
    Porter
    State
    Indiana
    Longitude
    -87.0194218
    Latitude
    41.5974769

    Nearby Similar for Sale

    • $450,000
      6,236 SF

      Unique Train Car Business Opportunity

      Own and operate a business in four train cars!
      301 Grant Avenue, Chesterton, IN 46304
      View Details
    • $460,000
      3,398 SF

      Historic Chesterton Commercial Property For Sale

      Commercial property with long-term tenant in historic Chesterton location.
      125 S Calumet Road, Chesterton, IN 46304
      View Details
    • $250,000

      Chesterton Commercial Land For Sale

      1.7 acres in fast-growing Chesterton business park.
      123 & 127 Venturi Drive, Chesterton, IN 46304
      View Details
    • $675,000

      52 Acres Ready For Development

      52-acre land parcel in Chesterton, Indiana, with development potential.
      W 1050 N, Chesterton, IN 46304
      View Details
    • $1,339,000
      20,528 SF

      Chesterton Commercial Flex Building For Sale

      20,528 SF commercial flex building in Chesterton, Indiana.
      700 Broadway Avenue, Chesterton, IN 46304
      View Details
    • $499,900

      New Duplex Near Indiana Dunes

      New construction duplex with immediate rental income near Indiana Dunes.
      150-152 N 16th Street, Chesterton, IN 46304
      View Details
    • $57,000

      Land in Sand Creek Community

      Residential land in Sand Creek Country Club Community, Chesterton, IN.
      901 Monterey Drive, Chesterton, IN 46304
      View Details
    • $56,000

      Residential Land in Sand Creek

      Residential land for sale in Sand Creek Country Club.
      1291 Monterey Drive, Chesterton, IN 46304
      View Details
    • $58,000

      Residential Land in Sand Creek

      Residential land in a golf course community near Lake Michigan.
      1171 Monterey Drive, Chesterton, IN 46304
      View Details
    • $70,000

      Residential Land in Sand Creek

      Residential land in a golf course community near Lake Michigan.
      999 Monterey Drive, Chesterton, IN 46304
      View Details
    • $57,000

      Land in Sand Creek Community

      Residential land for sale in Chesterton, Indiana's Sand Creek.
      981 Monterey Drive, Chesterton, IN 46304
      View Details
    • $174,900

      Residential Land in Chesterton, Indiana

      3.38-acre parcel in Jackson Township, Duneland School Corporation.
      0-1 E 1050 N, Chesterton, IN 46304
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land in Sand Creek Country Club Community, Chesterton, Indiana.
    Where is this residential land & home lot located?
    The property is located at 1251 Monterey Drive Chesterton, IN.
    What is the asking price?
    The asking price for this property is $55,000.
    What are key features of this property?
    This property features: Sand Creek Country Club Community: Enjoy access to world‑class golf, pool, tennis, fitness, dining, programs, and social activities.; Prime Location: Minutes from Lake Michigan and the new National Park.; Convenient Commute: Easy access to Chicago via car or the South Shore train.
    (219) 616-7873
    We can help!
    Listing Contact
    Christina Harber
    Real Estate License ID: RB14048968
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1251 Monterey Drive, Chesterton, IN 46304
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!