7701 Taft OddMerrillville, IN 46410

This exceptional 10-acre property in Merrillville, Indiana, presents a unique investment opportunity. The offering includes a 3-unit apartment building, currently generating over $2,400 in monthly rent from fully occupied units, each situated on its own 2+ acre parcel. The property is ideally positioned for immediate income generation while simultaneously offering significant long-term development potential. The front portion, zoned C2, is perfect for commercial development such as a strip mall, office space, or retail, while the rear portion's R5 zoning allows for high-density residential development, potentially accommodating 120+ condo or multi-family units. The existing 3,537 square foot apartment building, constructed in 1970, is classified as Class C. Utilities are readily available on-site. Comparable recent developments in the area suggest a projected value for new 2-bedroom condo units in the $200,000-$230,000 range. This property's combination of immediate rental income and substantial development potential makes it an attractive investment with significant upside. The address encompasses 7701, 7703, 7705, and 7707 Taft Street, Merrillville, IN 46410, and is located in Lake County. The asking price for this remarkable property is $590,000.