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    Richter St Chesterton, IN 46304

    Sponsored
    For Sale
    $1,250,000

    Approved 42-unit senior housing development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 11.83-acre parcel in Chesterton, Indiana, presents a turnkey opportunity for senior housing development. Located at the intersection of Richter Street and Calumet Road (APN 64-06-01-426-001.000-023), this B3-zoned land boasts all necessary approvals and construction drawings for a 42-unit active adult community. The project encompasses 42 ranch-style patio homes, each featuring 1,281 square feet of living space, two bedrooms, two bathrooms, a chef's kitchen with pantry, four closets, and a two-car garage (approximately 464 square feet). The development is designed for residents aged 55 and older. Municipal and state approvals are in place, and engineering drawings are complete. The site benefits from readily available municipal water and sanitary sewer connections. This is a rare opportunity to acquire a fully permitted and meticulously planned senior housing development, ready for immediate construction. The asking price for this exceptional property is $1,250,000. This represents a significant investment opportunity in a rapidly growing market.

    Property Features for 0 Richter St

    General Information

    Property type
    Land
    Lot Size
    515,315 SF

    HighLights

    • Approved senior housing development with 42 patio home units and a community building.
    • Active adult community for residents aged 55+.
    • Fully approved by the municipality and the State of Indiana; construction drawings approved.
    • Municipal water and sewer services available on‑site.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Chesterton
    County
    Porter
    State
    Indiana
    Longitude
    -87.052287
    Latitude
    41.6009106

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    FAQs

    What type of property is this?
    Land - Approved 42-unit senior housing development.
    Where is this land located?
    The property is located at Richter St Chesterton, IN.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Approved senior housing development with 42 patio home units and a community building.; Active adult community for residents aged 55+.; Fully approved by the municipality and the State of Indiana; construction drawings approved.
    Request Owner's contact information
    Richter St Chesterton, IN 46304
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    Chesterton, IN 46304
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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

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    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
    Richter St Chesterton, IN 46304
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