7701-7707 Taft Merrillville, IN 46410

Features

• Total Rooms: 10
• Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
• Heating: Forced Air Heating

Facts

• Year Built: 01/01/1970
• Property ID: 883402552
• MLS Number: 803637
• Property Type: Multi-family (2-4 units)
• County: LAKE
• Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. 3homes on 9.84acres. Check zoning with town of Merrillville but what I see is C2 in front, so Stripmall or retail in front. Lot goes a quarter mile back so over 1300' feet back. Rear is zoned R5 good for multi-unit not much of a stretch from a PUD which would allow retirement villiage, 200+/- unit apartment complex or condo development. Don't want to develop? well then, resurvey the property, sell 2 of the 3 homes and get your money back then do a market repackage of the rest with a conceptual drawing showing a good size condo development for a quick return on the investment One block away to the north is Brookstone Estates'' phase 1 was built around the year 2000 and is about the same size as this property was originally zoned R5. Brookstone Phase 1 consist of 120 units valued around $165k a piece currently. Now, Brookstone phase 2 is underway and has brand new units starting at $369k per unit. Can you imagine 120+ condo's at $369k a piece? There is money to be made