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    Property profile & analytics

    3559 Michigan St New Chicago, IN 46342-2060

    • Commercial land
    • 0.11 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Dec 13, 2024
    Location Intelligence
    Property ID
    US31-1007770
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • El Ranchero / Bakery / Restaurant

    Property Details for 3559 Michigan St

    Lot size
    0.11 lot acres
    Property type
    Commercial land
    APN
    45-09-19-377-006.000-022
    APU
    450919377006000022

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Chicago
    County
    Lake
    State
    Indiana
    Longitude
    -87.2742
    Latitude
    41.5529
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $326
    $8,000
    $0.00
    $8,000
    -
    $8,000
    $0.00
    $8,000

    Comparable in this City

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      2.24 Acres

      1280 Wisconsin St

      VACANT COMMERCIAL LAND • 2.24 Acres
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      2.63 Acres

      426 Wisconsin St

      VACANT COMMERCIAL LAND • 2.63 Acres
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      0.09 Acres

      37th Ave At Bruns St

      VACANT COMMERCIAL LAND • 0.09 Acres
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    • Value Estimation by Request
      0.33 Acres

      3040 83rd Appr Pl

      VACANT COMMERCIAL LAND • 0.33 Acres
      3040 83rd Appr Pl, Hobart, IN 46342
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    • Value Estimation by Request
      0.07 Acres

      3700 Blvd Gill

      VACANT COMMERCIAL LAND • 0.07 Acres
      3700 Blvd Gill, Hobart, IN 46342
      View Details

    Similar Nearby for Sale

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      Hobart Land Package For Sale

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    • Contact for pricing

      Commercial Outlots in Hobart

      Three separate commercial outlots available for sale or lease.
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      Prime Development Site in Hobart

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      30.8-acre parcel in Hobart & Merrillville communities.
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    • $232,000
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      4-Acre Land Parcel in Hobart

      4-acre parcel with commercial and residential potential in Hobart, IN.
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    • $2,500,000
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      Expansive Land Parcel in Hobart

      160-acre land parcel in a growing Northwest Indiana area.
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    Similar Nearby for Lease

    • $16 SF/Yr
      2,903 SF

      Professional Office Space Available

      Well-maintained office space with high visibility and easy access.
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      Office Space in Peoples Bank

      Second floor office space with signage and ample parking.
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      Prime Hobart location, 620 sq ft office suite.
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      North Ridge Center Retail Space

      Lake County retail space, multiple units available.
      7760 Ridge Rd, Hobart, IN 46342
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    • $14 SF/Yr
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      Retail Space in Hobart Center

      Retail space for lease in Pavilions of Hobart.
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    • $12 SF/Yr
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      Former Walgreens Retail Space Available

      15,068 SF retail space on 1.53 acres for lease.
      1605 E 37Th Ave, Hobart, IN 46342
      View Details
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    3559 Michigan St
    New Chicago, IN 46342-2060
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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
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