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Property profile & analytics
OFF-MARKET
Estimated value
$1,800,000
Medical Office Space
601 Gtwy N Blvd Chesterton, IN 46304-9658
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0591296
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2003
Construction
TYPE NOT SPECIFIED
Total area
35,456 SF
Lot
7.88 ac (343,253 SF)
APN
64-07-18-176-001.000-007
UPID
US31-0591296
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.80M
Owner & transaction history
Lakeshore Physicians LLC
Lakeshore Physicians LLC
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+24.9%
Retail stores
$2.4M
+16.3%
Restaurant
$2.4M
+13.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chesterton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesterton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,100,000
Current use
COMMERCIAL (GENERAL)
$2,625,000
Change: +25% · Conversion: Easy
RETAIL STORES
$2,445,000
Change: +16% · Conversion: Difficult
RESTAURANT
$2,390,000
Change: +14% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,210,000
Change: +5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,140,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$51 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$97,707
Tax year 2023
Assessed value
$4,067,900
Assessed 2023
Previous assessed
$4,067,900
+0.0% YoY
Effective rate
2.40%
On assessed value
Assessed land
$645,600
Assessed improvement
$3,422,300
Land market value
$645,600
Improvement market value
$3,422,300
Total market value
$4,067,900
Applied tax rate
26.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2003
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
35,456 SF
Lot
7.88 ac (343,253 SF)
APN
64-07-18-176-001.000-007
UPID
US31-0591296
Jurisdiction
PORTER
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.6M
RETAIL STORES
Est. value
$2.4M
RESTAURANT
Est. value
$2.4M
INDUSTRIAL (GENERAL)
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
RESTAURANT
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
7.88 ac
Current owner
From public records · entity-resolved
Lakeshore Physicians LLC
Entity
Mailing address
CHICAGO, IL 60606
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Lakeshore Physicians LLC
—
Deed Of Trust
related
$12,588,000 · First Financial Bank NA
—
—
Lakeshore Physicians LLC
—
Deed Of Trust
related
$10,276 · Fifth Third Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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