October 10, 2021 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of eight (8) multi-family units in Whiting, Indiana. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $530,000.
The multi-family investment property is located at 833-837 114th Street in Whiting, Indiana. The property is a two-story, brick apartment building constructed in 1925 and located on the corner of 114th Street and Davis Avenue, in a densely populated residential neighborhood. The property contains eight (8) 1-Bedroom-1Bathroom units in 6,000 square feet of living space on a 0.11-acre parcel. Additionally, each unit is separately metered for electricity, which the tenants pay directly. The Property is located in the densely-populated, supply-constrained neighborhood of Robertsdale, which is landlocked to the east and west by Lake Michigan and Wolf Lake. Whiting is bordered by the Chicago Neighborhood of East side to the north, and the city of Each Chicago, Indiana, to the south. 833 114th Street is located in close proximity to the commercial and commuter corridors of Calumet Ave and Indianapolis Blvd, as well as the Indiana Toll Road (I-90), providing quick access for workers and travelers to downtown Chicago. The Property is also located less than 1-mile from Hammond-Whiting Station, served by the South Shore commuter Train and Amtrak’s high speed “Wolverine” route from Chicago to Detroit. Tenants will be able to work or travel to Chicago via Train, Bus and Highway, attracting tenants that may have previously lived in Cook County. There also exists an ample student population in the area, including the walkable Calumet College of St. Joseph’s, and Purdue University Northwest in the neighboring city of Hammond.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.