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7317 Madison St 2 Unit Apartment Building $290,000 ($145,000/Unit) Merrillville, IN 46410

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EXECUTIVE SUMMARY

**RARE MIXED-USE OPPORTUNITY – COMMERCIAL SPACE WITH RESIDENTIAL APARTMENT**
This two-unit property offers a unique opportunity to **own or lease** a building that combines both **business and residential living** in one location.
* **Upper Level (Residential):** Fully remodeled 3-bedroom apartment, approx. 1,796 SF, featuring a spacious living room, large kitchen, den/office space, laundry, and updated finishes.
* **Main Level (Commercial):** Versatile commercial space ideal for office, retail, or service business use. Includes a 24’ x 12’ garage with additional parking, plus direct access for customers or employees.
* **Workshop/Lower Level:** Additional work/storage area with bathroom—perfect for operations or expansion needs.
**Property Highlights:**
* All new copper plumbing, electrical, radiated heater, thermostats, and newer boiler
* Updated HVAC/AC, serviced and in excellent condition
* Separate gas heater with blower for efficiency
* Solid interior finishes with cherry doors throughout
* Foundation curb already in place at the rear for potential future expansion
* Owner is a licensed builder and can accommodate build-to-suit modifications
**Availability:**
* **For Sale**
* **For Lease**
* **Lease with Option to Purchase** – Flexible ownership opportunities available
**Directions:** From US 30, head north on Madison to property on east side.

7317 MADISON

PROPERTY FACTS

Price	$290,000	Building Class	C
Price Per Unit	$145,000	Lot Size	0.90 AC
Sale Type	Investment	Building Size	3,000 SF
No. Units	2	No. Stories	2
Property Type	Multifamily	Year Built	1942
Property Subtype	Apartment	Parking Ratio	2.42/1,000 SF
Apartment Style	Low-Rise	No. Drive In / Grade-Level Doors	1
Zoning	C-2

Price	$290,000
Price Per Unit	$145,000
Sale Type	Investment
No. Units	2
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.90 AC
Building Size	3,000 SF
No. Stories	2
Year Built	1942
Parking Ratio	2.42/1,000 SF
No. Drive In / Grade-Level Doors	1
Zoning	C-2

SITE AMENITIES

24 Hour Access

UNIT MIX INFORMATION

DESCRIPTION	NO. UNITS	AVG. RENT/MO	SF
1+1	2	-	-

1 of 1

PROPERTY TAXES

Parcel Numbers	Multiple 45-12-16-426-005.000-030 45-12-16-426-004.000-030	Improvements Assessment	$58,100
Land Assessment	$103,700	Total Assessment	$161,800