Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1600-1602 Melanie Ln Chesterton, IN 46304

    View on Map
    Sponsored
    For Sale
    $139,900

    LAND - Chesterton, IN

    Lot size:
    0.79 Acres
    Days on Market:
    23
    Last Refresh:
    Mar 22 at 2:06 am

    Property Features for 1600-1602 Melanie Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    640705105024000023
    Lot size
    0.79 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Michelle Renninger
    Michelle Renninger

    Better Homes and Gardens Real Estate Connections

    Listing agent Michelle Renninger

    Listing date Feb 27, 2026

    MLS# 826943 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.

    Learn more

    Property Insight Report

    Overview

    Residential Land in Desirable Location

    The property is a 0.79-acre homesite located in the Villages in Chesterton, across the street from Sand Creek Country Club and minutes from Indiana Dunes National Lakeshore and commuter expressways. It is the last available homesite in the community, surrounded by a wooded landscape. The Villages is a 12-building community with access to walking trails throughout the Villages of Sand Creek. Covenants allow for flexible use as a full-time residence or rental/investment property. The site plan and blueprints are included with an acceptable offer. The property has access to city water and sewers and offers opportunities for those looking to call Chesterton home or add to their investment portfolio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Chesterton
    County
    Porter
    State
    Indiana
    Longitude
    -87.028111
    Latitude
    41.605849

    Nearby Similar for Sale

    • $450,000
      6,236 SF

      Unique Train Car Commercial Opportunity

      Own a unique business in four interconnected train cars!
      301 Grant Ave, 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 Rd, Chesterton, IN 46304
      View Details
    • New
      $424,900
      Pending

      Well-Maintained Duplex with Income Potential

      Duplex with strong rental history and owner-occupant opportunity.
      2130-2132 Westchester Ave, Chesterton, IN 46304
      View Details
    • $389,900
      Pending

      Well-Maintained Duplex in Chesterton, IN

      Ranch-style duplex built in 2005, excellent investment opportunity.
      2160 Westchester Ave, Chesterton, IN 46304
      View Details
    • $525,000
      0.19 Acres

      New Duplex Near Downtown Chesterton

      New 2024 duplex with immediate rental income near amenities.
      140-142 N Jackson Blvd, Chesterton, IN 46304
      View Details
    • $499,900
      0.19 Acres

      New Duplex Near Indiana Dunes

      New construction duplex with immediate rental income near Indiana Dunes.
      150-152 N 16Th St, Chesterton, IN 46304
      View Details
    • $450,000

      Unique Train Car Restaurant Opportunity

      Own and operate a business in four train cars!
      301 Grant Ave, Chesterton, IN 46304
      View Details
    • $775,000
      12,812 SF

      Historic Mixed-Use Building, Chesterton

      Prime retail, office, and residential spaces in downtown Chesterton.
      119 Broadway Ave, Chesterton, IN 46304
      View Details
    • $249,000

      Retail Space in Chesterton

      2,800 SF commercial space in a modern retail condominium.
      850 Sidewalk Rd, Chesterton, IN 46304
      View Details
    • New
      $279,900
      0.24 Acres

      Duplex in Downtown Chesterton

      Duplex with two units, each featuring two bedrooms and one bath.
      1220-1222 Park Ave, Chesterton, IN 46304
      View Details
    • $249,000
      1,400 SF

      Retail Showroom Near Route 49

      Retail showroom space available, close to major routes.
      830 E 1050 N, Chesterton, IN 46304
      View Details
    • Contact for pricing

      Retail Property Near Indiana Dunes

      Retail property with high visibility and strong demographics.
      755 Indiana Boundary, Chesterton, IN 46304
      View Details

    FAQs

    What type of property is this?
    Land - Homesite near Sand Creek Country Club and Indiana Dunes.
    Where is this land located?
    The property is located at 1600-1602 Melanie Ln Chesterton, IN.
    What is the asking price?
    The asking price for this property is $139,900.
    What are key features of this property?
    This property features: - Last available homesite in the desirable Villages in Chesterton.; - Located across the street from Sand Creek Country Club.; - Minutes from Indiana Dunes National Lakeshore and commuter expressways.
    (219) 406-2143
    Request Owner's contact information
    1600-1602 Melanie Ln Chesterton, IN 46304
    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.
    1600-1602 Melanie Ln
    Chesterton, IN 46304
    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
    1600-1602 Melanie Ln Chesterton, IN 46304
    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

    We can help!
    Listing Contact
    Michelle Renninger
    Michelle Renninger
    Real Estate License ID: RB14051286
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!