January 18, 2023 – Anthony Spangler and Andrew O’Connell of Horvath & Tremblay have successfully completed the sale of two commercial buildings in Merrillville, Indiana. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,015,000.
The two Properties are located at 9 West 73rd Avenue and 53-65 W 68th Place in Merrillville, Indiana. 9 West 73rd Avenue is improved by a two-story brick multi-family building containing seven residential units comprised of one (1) 2-Bedroom/1.5-Bathroom unit, one (1) 2-Bedroom/1-Bathroom unit, one (1) 1-Bedroom/1-Bathroom unit, and four (4) 1-Bedroom/0.75-Bathroom units with 5,250 square feet of living space in 7,000 total gross square feet. The well-maintained building is situated on a large 0.75-acre parcel with ample on-site parking. 53-65 West 68th Place is improved by a two-story brick mixed-use building containing ten (10) total units comprised of three (3) retail units, three (3) office units, three (3) 1-Bedroom/1-Bathroom residential units, and one (1) 2-Bedroom/1-Bathroom residential unit with 15,000 square feet of living area in 16,000 total gross square feet. The well-maintained building was constructed in 1973 and is situated on a large 0.59-acre parcel with thirty-two (32) on-site parking spaces. The building also has a full basement that has the potential to generate additional income. Both properties feature an attractive, well-maintained building with ample on-site parking. The Properties are both seconds from Broadway (IN Route 53) and also benefit from their proximity to US Highway 30, the area’s two primary commercial corridors. The commercial area is home to countless businesses and retailers including restaurants (Starbucks, McDonald’s, Wendy’s and Panera), Pharmacies (Walgreens and CVS), Supermarkets (Meijer, Ruler Foods and Aldi), and Big-Box Retailers (Walmart, Target and Costco). The Properties are also a short commute from Indiana University – Northwest Campus with more than 6,000 students. Both properties are well located in Merrillville, a South Suburb of Chicago located along the border of Illinois and Indiana. The properties have convenient access to the Interstate 65, which connects to Interstates 94 and 90. The quick highway access provides easy accessibility to both the Chicago Metro area and Northwest Indiana.
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.