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    288 S Lake St Gary, IN 46403

    For Sale
    $199,900

    Retail - Gary, IN

    Type:Retail
    Property size:
    2,607 SF
    Lot size:
    0.17 Acres
    Days on Market:
    11
    Last Refresh:
    Dec 5 at 2:06 pm

    Property Features for 288 S Lake St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Rooms
    Basement
    APN
    450906251013000004
    Parking features
    On Street, Paved or Surfaced
    Exterior features
    Corner Lot, Paved
    Basement Y/N
    1
    Size
    2,607 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1957
    Architectural style
    Other

    McColly Real Estate (219) 864-7200 [email protected]

    Listing agent Brent Sherman (219) 763-4565 License #RB24000630

    Listing date Nov 25, 2025

    MLS# 828637 Listing URL

    Copyright © 2025 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.

    Overview

    Gary, IN Retail Opportunity

    Located in the Miller business district of Gary, IN, this commercial property on Lake Street presents a redevelopment opportunity. The 2,607 square-foot building, situated on a 0.165-acre lot, was originally a local restaurant and retains its original charm. The interior has been mostly cleared, providing a blank canvas for a variety of uses, including restaurant, retail, studio, office, or mixed-use. The property benefits from steady foot traffic, high visibility, and proximity to Lake Michigan, Marquette Park, and the South Shore Line. A 13-car private parking lot offers convenience for clients, staff, and guests. The property is near the Douglas Center and Indiana Dunes National Park. The South Shore commuter line provides connectivity to Chicago, with access to I-80/94, the Toll Road, and I-65. The property is located near a modern library, restaurants, and an art center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tattoo Art Therapy Tattoo Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Gary
    County
    Lake
    State
    Indiana
    Longitude
    -87.268336
    Latitude
    41.604467

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    FAQs

    What type of property is this?
    Storefront property - Commercial property in Miller Business District, ideal for redevelopment.
    Where is this storefront property located?
    The property is located at 288 S Lake St Gary, IN.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: - Prime location in the Miller Business District with high visibility and foot traffic.; - 13-car private parking lot, a rare and valuable amenity.; - Excellent accessibility via South Shore Line to Chicago and immediate access to I-80/94, the Toll Road, and I-65.
    (219) 763-4565
    Request Owner's contact information
    288 S Lake St Gary, IN 46403
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    Gary, IN 46403
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    Realmo Value Estimation

    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.

    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.

    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
    288 S Lake St Gary, IN 46403
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