1227 W Porter AVE #1217, Chesterton, IN 46304
1227 W Porter AVE #1217, Chesterton, IN 46304
1227 W Porter AVE #1217, Chesterton, IN 46304
18
See all 18 photos
$869,000
Est. payment /mo
Save
4,952 SqFt
Active

1227 W Porter AVE #1217 Chesterton, IN 46304

Save
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Maurice Cornett

Maurice Cornett

+1(219) 781-1169

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,952 sqft

Price per Sqft $175

Subdivision Chicago Porter Home Inv Cos

MLS Listing ID 845034

HOA Y/N No

Year Built 1999

Annual Tax Amount $14,286

Tax Year 2025

Lot Size 0.269 Acres

Acres 0.269

Property Sub-Type Multi Family

Property Description

Six-unit multifamily property in Chesterton, built in 1999 and masonry-framed over two stories: four two-bedroom, one-bath units and two one-bedroom, one-bath units across 4,952 SF, averaging 825 SF per unit on a 0.27-acre parcel with 16 off-street parking spaces. Address range 1217 to 1227 W Porter Ave. Unit finish is unusually strong for the price point. Every unit carries its own forced-air furnace, central air conditioning and water heater, and the county record card values in-unit fireplaces at 30,200 dollars. Tenants pay their own gas, electric and in-unit water, leaving ownership responsible only for common-area electric, water and sewer, trash and grounds. That structure holds the current expense load to 36.8 percent of collected income and produces in-place NOI of 52,281 dollars, a going-in cap rate of 6.02 percent at the offering price. The value-add case is the rent roll. In-place rents average 1,158 dollars per unit against ownership pro forma of 1,528, roughly 32 percent of embedded upside, with two units already on month-to-month terms and a third rolling in January 2027. Marked to those levels the property produces pro forma NOI of 69,515 dollars, a cap rate of 8.00 percent at the offering price, with no change to the physical plant. Chesterton sits inside the Duneland School Corporation, minutes from I-94, US-20 and the Dune Park South Shore station, and adjacent to Indiana Dunes National Park.

Location

State IN

County Porter

Interior

Heating Forced Air

Fireplace N

Appliance Dishwasher, Refrigerator

Exterior

Parking Features Off Street, Concrete

View Y/N true

Building

Sewer Public Sewer

Water Public

Others

Tax ID 640602227005000023

Acceptable Financing NRA20260909184638687358000000

Listing Terms NRA20260909184638687358000000

Listed by Ellsbury Group • Tariq Suboh

Save 24K + On Your Next Home

Watch this step by step blueprint on how to get the best home at the best price in the best neighborhood by using our EquityPath System ™ for free.

BOOK YOUR DISCOVERY CALL TODAY | Unlock your free access to the EquityPath System™ 👉

As Featured On

Maurice is an incredible agent and an even better person. Whether you're buying or selling, he keeps everything on track and goes above and beyond to ensure a smooth transaction. Truly the #1 realtor around!

Karen M

Buy Smart. Negotiate Hard. Close Like a Pro.

Ready to buy your dream home with confidence? The Home Buyer Success Academy is your step-by-step guide to mastering the entire process—from smart financial planning with AI to negotiating like a pro and closing with ease. Inside, you’ll find 11 powerful chapters designed to make you feel informed, empowered, and in control. Say goodbye to confusion and hello to clarity. This is more than a course—it’s your roadmap to homeownership.

Download The E-Book Here

Learn how our mortgage concierge program will save you 24K on virtually any home on the market!

BOOK YOUR DISCOVERY CALL TODAY | Unlock your free access to the EquityPath System™ 👉

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Maurice Cornett

Maurice Cornett

Broker Associate License ID: 19001105, 3607323, 475.201736

+1(219) 781-1169

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Maurice Cornett, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

1227 W Porter AVE #1217