50 Acres on S.R. 49 CHESTERTON

Vacant Land for Sale
Catylist Listing ID: 30757071
Property Subtypes: Retail, Other
Gross Land Area: 50.65 Acres
Sale Price: $4,900,000
Unit Price: $96,742 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/26/2023

Overview / Comments

50.65 acres fronting along the east side of State Route 49, south of Indian Boundary Road, between New York Central Railroad tracks to the north and Porter Avenue to the south. Excellent investment opportunity to hold for appreciation or to develop now. Excellent location for hotels, restaurants, retail, medical, education centers, office buildings as well as possibly some light manufacturing uses. Zoning is B2 Business (although 2.4 acres are zoned B3). The property is currently being farmed. 2021 pay 2022 taxes $1316.46 (assessed at farming rate).

Located in the heart of Chesterton's most active, high traffic commercial development zone, the State Road 49 corridor between I-94 and I-80/90. The site has great access to SR 49, I-94, I-80/90 Indiana Toll Road and the South Shore Railroad. The site is near Jewel/Osco, Pizza Hut, Wendy's, Speedway and future Aldi Grocery Store coming Spring 2021. Franciscan Emergency Center is a $20 million dollar freestanding emergency center just 1/2 mile north! The Franciscan Health Fitness Center 1/2 mile north. Sand Creek Country Club is located 1/2 mile east. Indian Oak Shopping Center and Walgreen's are located 1 mile to the northwest. The $210 million 5-story Porter Hospital at US 6 & SR 49 with 261 beds and over 1,500 full time employees is located only 3 miles south. Urschel Laboratories has moved its 300 employee corporate headquarters to Chesterton. Over 6 million people visit Porter County annually. The recently designated Indiana Dunes National Park alone attracted 2.29 million visitors in 2020!

Additional Details

Nearest MSA: Chicago-Naperville-Elgin
County: Porter
Tax ID/APN: 640431377001000023, 640431451001000023, 6407201001000023
Zoning: B2/B3
Highway Access: I80/94
Zoning Description: B2/Bd

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,634 17,063 37,688
Median Age: 41.89 39.84 39.22
Households: 1,770 6,531 14,198


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