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$27,500
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Property Description
Opportunity knocks in Gary! This property is ready for a complete renovation and offers tremendous potential for investors, flippers, or buyers looking to build sweat equity. Whether you're searching for your next fix-and-flip project, rental investment, or a chance to create a home tailored to your vision, this property provides a blank canvas for your ideas. Located in a community experiencing renewed investment and growth, now is the time to secure your place in Northwest Indiana's exciting future. With the Chicago Bears' new stadium development bringing increased attention and economic activity to the region, opportunities like this are becoming harder to find. Bring your tools, your imagination, and your vision. Property is being sold as-is where is. Cash or hard money welcome.
Full Property Details
Full Property Details for 547 Madison St
General
- Price: $27,500
- Taxes: $1,128 (2025)
- Status: Active
- Type: Single Family
- Source: GNIAR
- MLS ID: 840876
- Updated: 6/18/2026
- Added to Site: 15 day(s) ago
Interior
- Number of Rooms: 4
- Interior Features: None
- Appliances: None
Rooms
Bathrooms
- Total Bathrooms: 1
- Full Bathrooms: 1
Bedrooms
- Total Bedrooms: 3
Parking
- Parking Features: On Street
Location
- County: Lake
- Township: Calumet
- Subdivision: Gary Land Companys 01
- Driving Directions: 5th Ave to Madison, turn South Property on east side of street
Heating & Cooling
- Heating Type: None
Structural Information
- Year Built: 1910
Lot Features
- Lot Size (Acres): 0.086
- Lot Size (Sq. Ft.): 3,746
- Lot Features: Back Yard, Rectangular Lot
- Zoning: residential
Financial Considerations
- Tax Amount: $1,128
- Tax Year: 2025
- Terms: Cash, Other
Disclosures and Reports
- Legal Description: GARY LAND CO'S 1ST SUB. N. 28.5FT. L.34 BL.80 S. 1FT. L.35 BL.80
- Property ID: 450804426009000004
Listed by Weichert, Realtors-Moke Agency
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Schools
Schools serving 547 Madison St
School District:Gary Community School Corporation
| Name | Grades | Distance |
|---|---|---|
Beveridge Elementary School 1234 Cleveland Street, Gary, IN 46404 | K-5 | 1.3 mi |
Mary M Bethune Early Child Development Center 2367 East 21st Avenue, Gary, IN 46407 | PK- | 2.3 mi |
Gary Middle School 301 Parke Street, Gary, IN 46403 | 6-8 | 5 mi |
West Side Leadership Academy 9th & Gerry St, Gary, IN 46406 | 9-12 | 3.5 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 547 Madison St
Date
Details
Price
Change
Source
6/18/2026
Listed
$27,500
5400%
MLS
9/26/2019
Sold
$500
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 547 Madison St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$834
—
$40,100
11%
2024
$834
-68%
$36,000
22%
2023
$2,592
133%
$29,400
1%
2022
$1,111
-54%
$29,100
7%
2020
$2,397
297%
$27,200
—
2019
$604
-38%
$27,200
—
2018
$973
56%
$27,200
-1%
2017
$624
—
$27,500
-4%
2017
$624
-2%
$28,600
-3%
2016
$640
3%
$29,600
—
2015
$624
-63%
$29,500
3%
2013
$1,694
-2%
$28,700
1%
2012
$1,731
—
$28,500
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 547 Madison St
547 Madison Street, Gary, IN 46402 (MLS# 840876) is a Single Family property with 3 bedrooms and 1 full bathroom. 547 Madison Street is currently listed for $27,500 and was received on June 18, 2026. Want to learn more about 547 Madison Street? Do you have questions about finding other Single Family real estate for sale in Gary? You can browse all Gary real estate or contact a Coldwell Banker agent to request more information.

