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$6,459,000
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Property Description
MADISON AVENUE TOWNHOMES ARE ONE OF THE MOST DESIRABLE RENTAL PROPERTIES IN THE CITY!! Exquisitely maintained -80 Unit complex, featuring 3Bd 1&1/2 BA , open concept floor plan ,living room/ dinning room and plenty of closet space. 3.2 Million recently spent on renovations, each tenant has individual heating and central -air units!! (tenants are responsible for all utilities). Appliances included are refrigerator,stove, dishwasher and garbage disposal. These adorable townhouses have plenty of onsite parking , exterior security lighting, and gated perimeter. Each unit provides front and back yards, the playground area and park benches accomodate tenants outdoor activities. There are a few ADA units with sprinkler systems. All units have smoke detectors, CO detectors, and fire extinguishers as required. Residents take pride in maintaining a clean and peaceful environment. The location is perfect , minutes from major interstate highways, Miller Beach, a major University, mini shopping plazas and the New Hard Rock Casino. Be part of the redevelopment blooming in the city with ownership of this long term profitable income investment property. Units are in excellent condition, with ONE HUNDRED PERCENT OCCUPANCY and a waiting list. This is one investment opportunity you don't want to miss out on!!
Full Property Details
Full Property Details for 1400 Jefferson St
General
- Sold For: $6,459,000
- Taxes: $115,288 (2023)
- Status: Closed
- Type: Commercial Multi-Family
- Source: GNIAR
- MLS ID: 819745
- Added to Site: 294 day(s) ago
Interior
- Interior Features: Ceiling Fan(s), Open Floorplan
- Appliances: Disposal, Stainless Steel Appliance(s), Refrigerator, Electric Range, Dishwasher
Exterior
- Exterior Features: Lighting, Storage, Private Yard
Parking
- Parking Features: Paved
Location
- County: Lake
- Township: Calumet
- Subdivision: Chicago Tolleston Land & Inves
- Driving Directions: North on Broadway to 15th Avenue, turn west on 15th Avenue to Madison St. left to Jefferson.
School Information
- High School District: Gary
Heating & Cooling
- Heating Type: Forced Air, Natural Gas, Hot Water
Structural Information
- Square Feet: 89,550
- Year Built: 1997
Lot Features
- Lot Size (Acres): 7.12
- Lot Size (Sq. Ft.): 310,147
- Lot Features: Back Yard, Near Public Transit, Paved, Landscaped, Front Yard, Few Trees, Corner Lot
- Zoning: Mixed Use
Financial Considerations
- Tax Amount: $115,288
- Tax Year: 2023
- Terms: Cash, Conventional
Disclosures and Reports
- Legal Description: C.T.L. & I. CO'S 3RD BLOCK 4 LOTS 1 TO 26, BLOCK 5 LOTS 1 TO 26, BLOCK 18 LOTS 25 & 26 & BLOCK 20 LOTS 1 TO 26
- Property ID: 450809279001000004
Listed by B. Daniels Real Estate, LLC
Sold by The Lyons Group Real Estate
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Schools
Schools serving 1400 Jefferson St
School District:Gary Community School Corporation
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1400 Jefferson St
Date
Details
Price
Change
Source
11/03/2025
Sold
$5,225,000
-25.36%
MLS
4/27/2025
Listed
$6,999,900
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1400 Jefferson Street, Gary, IN 46407 (MLS# 819745) is a Commercial Multi-Family property that was sold at $6,459,000 on November 03, 2025. Want to learn more about 1400 Jefferson Street? Do you have questions about finding other Commercial Multi-Family real estate for sale in Gary? You can browse all Gary real estate or contact a Coldwell Banker agent to request more information.

