East Chicago, Indiana is a place for investment?

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East Chicago, Indiana is a place for investment?

Account Closed
Buffalo, WY · Member since 2016 · 22 posts · 3 votes

Hi,

I’ve found a very nice offer to buy a house close to Michigan Avenue, East Chicago, Indiana. Anybody knows if it’s nice place for living? I was trying to find more information but it looks like people prefer to live in Hummond or Munster. I’m afraid of buying something what will be difficult to sell. I’ll be thankful to you for any information.

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Aaron Elbert
Sunnyvale, CA · Member since 2017 · 1 post · 2 votes
7y

I am buying a place in NW indiana East Chicago. Its a 5 plex. Ill let you know how it goes.

Aaron

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  • Scott Steffek
    Flipper/Rehabber · Crown Point, IN · Member since 2009 · 482 posts · 216 votes
    9y

    Natali,

    I do a lot of business sin Northwest Indiana. Munster is a high income area and good deals are extremely hard to find. Hammond is a very good area for buy and holds. Just be careful where you buy.  I would also be careful with East Chicago. There are some good deals, but if you want to turn around and sell it, you may have a hard time. However, East Chicago can be very lucrative for excellent cash flow. PM if you'd like more information. Good Luck!!

    1Reply
  • Josh Kundrat
    Chicago, IL · Member since 2015 · 77 posts · 39 votes
    9y
    Totally agree with Scott, Hammond is pretty decent some parts are kind of bad and some parts are pretty nice, but I'd hesitant to buy in East Chicago even though the prices are attractive, it is for a reason crime is high. Munster is really nice it's almost all SFH priced at market value, so cash flow is gonna be difficult to achieve in most cases
    0Reply
  • Account Closed
    OP
    Buffalo, WY · Member since 2016 · 22 posts · 3 votes
    9y

    Thank you Scott Steffek and Josh Kundrat a lot for your help.

    0Reply
  • Lisa Lavine
    phoenix, AZ · Member since 2016 · 72 posts · 12 votes
    9y

    Scott and Josh are 100:/ on the money. 

    Let me add my $.02 . Finding good tenants @location s like E.C  could be a challenge. You Could  always get lucky but i would really add extra holding costs. I would expect to have a  high turn over rate,  there. 

    It's a gamble .

    Do you feel lucky, today!!

    (IAlways wanted to use that line )😆

    0Reply
  • Lisa Lavine
    phoenix, AZ · Member since 2016 · 72 posts · 12 votes
    9y

    Why not try crown point ,Hobart ,cedar lake ,even parts of Merrillville( close to c.p and hobart ,borders)

    P.M me I can tell you what areas are 😇&😈

    0Reply
  • Tony Ibarra
    Hammond, IN · Member since 2016 · 31 posts · 10 votes
    9y

    @John Mathewson can help you find something in NWI. He'd just need a few details of what you're looking for. 

    1Reply
  • Dale Stevens
    Investor · Downers Grove, IL · Member since 2015 · 353 posts · 213 votes
    9y

    East Chicago also has some areas (well one large one) where rampant dumping years ago has left the ground extremely high in Lead content. One large Housing complex has to be completely shuttered  and I believe torn down to remediate the issue. Calumet.

    So, research where the properties are. 

    1Reply
  • Trent Vanderzee
    Investor · Cedar Lake, IN · Member since 2014 · 14 posts · 5 votes
    9y

    @Scott Steffek I am flipping in this market also, so put me on your buyers list, please.

    0Reply
  • Aaron Elbert
    Sunnyvale, CA · Member since 2017 · 1 post · 2 votes
    7y

    I am buying a place in NW indiana East Chicago. Its a 5 plex. Ill let you know how it goes.

    Aaron

    2Reply
  • A.J. D'Asaro
    Investor · Chicago, IL · Member since 2016 · 49 posts · 46 votes
    6y

    @Aaron Elbert Did you end up going through with it? How is it going? I'm asking because I am considering investing in a four-plex there.

    0Reply
  • Tim Kavanaugh
    Real Estate Agent · Chicago · Member since 2020 · 11 posts · 3 votes
    6y

    Anybody buying in EC? Seems like much of the opportunity would be Section 8?

    0Reply
  • Ryan FlanaganPro Member
    Accountant · Naperville, IL · Member since 2020 · 41 posts · 27 votes
    5y

    Very curious about this market. I've seen how much Hammond has taken off and have wondered if the western part of EC is worth considering. Anyone have any thoughts about the current state of things over there? 

    0Reply
  • Paolo Maldonado
    Investor · Boca Raton, FL · Member since 2021 · 3 posts · 1 vote
    4y
    Originally posted by @Aaron Elbert:

    I am buying a place in NW indiana East Chicago. Its a 5 plex. Ill let you know how it goes.

    Aaron

     Hey Aaron, how did your investment in East Chicago go? 

    1Reply
  • Jonathan KlemmBusiness Member
    Moderator
    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    4y

    @Paolo Maldonado - You should connect with @Eudith Vacio if you are interested in East Chicago or Northwest Indiana.  She is an investor and agent in those areas.

    @Aaron Elbert

    [email protected]
    Quality Builders4.968 Reviews
    WebsiteView Page
    1Reply
  • Michael K.
    Investor · Chicago, IL · Member since 2018 · 352 posts · 176 votes
    4y
    Originally posted by @Account Closed:

    Hi,

    I’ve found a very nice offer to buy a house close to Michigan Avenue, East Chicago, Indiana. Anybody knows if it’s nice place for living? I was trying to find more information but it looks like people prefer to live in Hummond or Munster. I’m afraid of buying something what will be difficult to sell. I’ll be thankful to you for any information.

    In short, east Chicago has a very industrial feel and is not a particularly nice place to live. I suggest you visit before you buy something there. I have properties in Miller Beach, a beach community that is a sort of suburb of Gary, Indiana (also its primary tax base). Properties prices have been appreciating quickly there. Northwest Indiana has a lot of potential. My wife works at the University of Chicago Hospital and actually has a number of coworkers who live across the border in Indiana and commute on a daily basis. It's only a 30-45 minute drive to downtown Chicago. I'd say focus on communities near 90/94 and the South Shore train line/stations. 

    0Reply
  • Ryan FlanaganPro Member
    Accountant · Naperville, IL · Member since 2020 · 41 posts · 27 votes
    4y

    The part of EC near the Hammond border is fairly desirable rental stock and has a less industrial, more neighborhood-ey feel. Buildings are old and may need some fixing up, but I think it can be worth it. Seems they are putting some money into improving things over in the Harbor area as well. The very southwest corner of EC (Roxana) has some nice houses.

    On the other end of the spectrum, I drove the southeast quarter of EC the other day and I wouldn't invest there personally (yet).

    0Reply
  • Ryan FlanaganPro Member
    Accountant · Naperville, IL · Member since 2020 · 41 posts · 27 votes
    4y

    @Tim Kavanaugh - I am buying over there.

    0Reply
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