Property profile

150 Us Hwy 20 Porter, IN 46304

OFF-MARKET
Commercial land
Property ID
US31-0875493
12,366 SF 17.52 ac lot Built 1995
Individually Owned 14-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 39-acre property in Chesterton, Indiana, presents a prime multifamily development opportunity. Located just minutes from Indiana Dunes National Park and less than an hour from downtown Chicago, this site offers unparalleled access to natural beauty and urban amenities. The eastern 17.5 acres are approved for a 318-unit Planned Unit Development (PUD), with plans ready for immediate groundbreaking. This section provides a significant opportunity to build a thriving residential community. The remaining 21.5-acre western parcel offers further development potential, envisioned for low-density multifamily and commercial uses. This allows for a diverse and potentially lucrative mixed-use development. The entire 39-acre parcel is zoned for multi-family use, providing flexibility and scalability for your project. The property's strategic location, combined with the approved PUD plans and the potential for additional development, makes this a truly exceptional investment opportunity in Northwest Indiana's thriving real estate market. This is a rare chance to capitalize on the growing demand for housing near the Indiana Dunes National Park, creating a desirable community with ample space for amenities. The approved plans for the eastern portion significantly reduce development hurdles, allowing for a swift and efficient project timeline. Don't miss this chance to build a successful and impactful development in a highly sought-after location. The address is 150 E US Hwy 20, Chesterton, IN 46304.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Year built 1995
Construction CONCRETE
Total area 12,366 SF
Lot 17.52 ac (763,128 SF)
APN 64-03-25-107-001.000-026
UPID US31-0875493

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

150 Us Hwy 20 Porter, IN 46304-9561
Porter metro Census 50203 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$995k
Blend (final) Blend
$975k

Owner & transaction history

since 2012
7 recorded transactions
2012
Price N/A
2010
$1.6M
2009
Price N/A
2004
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Retail stores $1.3M +8.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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