7701-7707 Taft Merrillville, IN 46410
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
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLake
- Taxes$10,990
- HOA/Condo/Coop Fees$0
- Days on Site23 Days
- MLS StatusActive
- MLS ID Number803637
- Home Size Source N/A
- Year Built1970
- Lot Size9.84 Acres
- Full Baths3
- Partial Baths1
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General Features
- Parking Detached
- Parking Spaces 0
- Sewer Other
- Basement Crawl SpacePartialFull
- Number of Stories 1
- Acreage 9.84
- Water Public
- Property Sub Type Apartment
- Garage Spaces 0
- Utilities Cable AvailableSewer AvailableNatural Gas AvailableElectricity Available
Interior Features
- Heating Forced Air
- Appliances OvenWasherRange
- Interior Elevator
- Laundry Features In UnitOther
Exterior Features
- Fencing None
- Exterior Other
- Lot AgriculturalOpen Lot
- Patio And Porch DeckPatio
Community Features
- Township Center