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Property profile & analytics
OFF-MARKET
Medical Office Space

523 Chicago Ave East Chicago, IN 46312-3206

960 SF 0.34 ac lot Built 1940
Entity Owned 3-yr Hold Free & Clear
Property ID
US31-0441709
Property summary
AI-generated overview

This 963-square-foot medical office space in Lake County is immediately available. Located on high-traffic Chicago Avenue, this updated, single-story building offers convenient access and high visibility. Recent updates include gated asphalt parking and ample on-street parking. The interior features private restrooms, central air conditioning, and forced-air heating. Utilities are fully connected, including public sewer and water, cable, electricity, natural gas, and phone lines. This property is part of a larger complex with additional adjacent spaces available for lease individually or together, totaling nearly 4,000 square feet. The building's flexible layout can accommodate a variety of medical or office uses. The property's 1940 construction has been modernized for contemporary business needs. The building's location across from 529 W Chicago Avenue and adjacent to 525 and 527 W Chicago Avenue offers significant potential for expansion or synergy with related businesses. This is a turn-key opportunity for businesses seeking a well-maintained, conveniently located space in a high-traffic area. The APN is 450329413003000024.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1940
Construction WOOD
Total area 960 SF
Lot 0.34 ac (14,985 SF)
APN 45-03-29-413-003.000-024
UPID US31-0441709
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Old National Bank · 3 yrs held
Old National Bank
since 2023
2 recorded transactions
2023
Price N/A
2011
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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