September 29, 2020 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of thirty (30) multi-family units in Crown Point, Indiana. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,450,000.
The multi-family investment property, located at 127 & 151 Harrington Avenue in Crown Point, Indiana, is comprised of thirty (30) multi-family units. Constructed in 1973, the thirty unit apartment complex consists of 30,000 square feet of living area (35,000 gross square feet) on a 0.61 acre parcel with sixty (60) off-street parking spaces. The property, which is separately metered for heat and electric has thirty (30) two-bedroom, one-bathroom units. The units have recently been renovated with updated kitchens and bathrooms, and the grounds have been meticulously maintained. The property is well located along Harrington Avenue and is adjacent to Route 231. It is in close proximity to the Historic Downtown Crown Point (“The Square”) and its many amenities. 127 Harrington Avenue is adjacent to the towns elementary and middle schools, a brand-new municipal park, and a $10 million civic center that includes an ice rink, splash pool and amphitheater. The property is located less than 3 miles from Interstate 65 providing convenient access throughout Lake County as well as to Gary Indiana and to downtown Chicago. Additionally, the property benefits from strong demographics, more than 83,700 people live within a 5-mile radius of the property with an average household income in excess of $89,000.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.