March 15, 2022 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of ten (10) multi-family units in East Chicago, Indiana. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $640,000.
The multi-family investment properties, located at 4836 Northcove Avenue and 4730 Tod Avenue in East Chicago, Indiana are comprised of ten (10) multi-family units spread over two buildings. The combined unit mix contains five (5) 2-Bedroom/1-Bathroom units, four (4) 1-Bedroom/1-Bathroom units, and one (1) 4-Bedroom/2-Bathroom unit with 8,000 square feet of living area in 10,000 total gross square feet on a combined 0.50-acres of land. The Properties are located in a dense residential neighborhood centered along Indianapolis Boulevard in western East Chicago near area schools, downtown amenities and the shores of Lake Michigan. The properties enjoy close proximity to St. Catherine Hospital, the city’s primary Hospital, the Indiana Harbor and the employment opportunities centered around it (ArcelorMittal), two Casino’s located on the shores of Lake Michigan (Ameristar Casino and Majestic Star Casino) and the Gary/Chicago International Airport. Additionally, the Properties are located along the Indianapolis Boulevard (US Route 20) corridor, one of the primary business thoroughfares through East Chicago. The Properties are approximately 2-miles from Interstate 90 and enjoy convenient access to the South Shore Line (Hammond Station and East Chicago Station) with service to Chicago and South Bend as well as Amtrak’s Wolverine at the Hammond Whiting Station.
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.