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$250,000

  • For Sale
  • Active
  • Commercial
  • 3,000 Sq. Ft.
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Excellent investment opportunity! This versatile commercial building features three separate units, offering multiple income-producing possibilities. One of the units was previously operated as a restaurant and includes an existing commercial kitchen hood, making it ideal for a new restaurant, cafe, carryout, or other food service business with the proper approvals. Whether you're an investor looking to generate rental income or a business owner seeking to occupy one unit while leasing the others, this property offers outstanding flexibility and long-term potential. The multi-unit layout provides the opportunity for diversified income streams and owner-occupancy, making it an attractive addition to any investment portfolio. Conveniently located on W. Ridge Road with excellent visibility and accessibility, this property is well-positioned for a variety of commercial uses. Don't miss the opportunity to own a property with strong income potential and endless possibilities.

Full Property Details for 5490 W Ridge Rd

General

  • Price: $250,000
  • Taxes: $2,124 (2024)
  • Status: Active
  • Type: Commercial
  • Source: GNIAR
  • MLS ID: 841261
  • Updated: 6/25/2026
  • Added to Site: 119 day(s) ago

Exterior

  • Exterior Features: Lighting

Parking

  • Parking Features: Off Street, Asphalt

Location

  • County: Lake
  • Township: Calumet
  • Subdivision: Nelson Add
  • Driving Directions: From I-80/94, take the Grant St. exit and head north. Turn left (west) onto Ridge Road. Continue west approximately 2 miles. The property will be on the south side of Ridge Road at 5490 W Ridge Rd

Heating & Cooling

  • Heating Type: Central, Natural Gas

Structural Information

  • Square Feet: 3,000
  • Year Built: 1957

Lot Features

  • Lot Size (Acres): 0.268
  • Lot Size (Sq. Ft.): 11,674
  • Lot Features: Corner Lot, Near Public Transit

Financial Considerations

  • Tax Amount: $2,124
  • Tax Year: 2024
  • Terms: Cash, VA Loan, FHA, Conventional

Disclosures and Reports

  • Legal Description: NELSON ADD. S.82FT. OF LOT 15 & S'LY 82FT LOT 16
  • Property ID: 450725127015000003

Listed by 21 Century Realty Group

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Listing agent

— 5490 W Ridge Rd —

  • 21 Century Realty Group

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

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NMLS#: 1598647

Get Pre-Approved

Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 5490 W Ridge Rd

School District:Lake Ridge Schools
NameGradesDistance
Longfellow Elementary School, Gary, IN
45th/Calhoun Sts, Gary, IN 46408
K-41 mi
Lake Ridge Middle School
3601 West 41st Avenue, Gary, IN 46408
5-81.3 mi
Calumet High School, Gary, IN
3900 Calhoun Street, Gary, IN 46408
9-120.2 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 5490 W Ridge Rd Get Price Alerts and Save Property

Date
Details
Price
Change
Source
6/25/2026
Listed
$250,000
82.48%
MLS
8/25/2022
Sold
$137,000
—
Public Record
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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 for 5490 W Ridge Rd

Year
Property Taxes
Change
Tax Assessment
Change
2024
$519
-40%
$10,300
—
2023
$868
84%
$10,300
—
2022
$471
-44%
$10,300
—
2020
$847
-87%
$10,300
—
2019
$6,279
14%
$10,300
—
2018
$5,497
538%
$10,300
-54%
2017
$861
—
$22,200
116%
2016
$858
111%
$10,300
—
2015
$406
-40%
$10,300
—
2013
$672
—
$10,300
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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NMLS#: 1598647

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Listed by 21 Century Realty Group

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5490 W Ridge Road, Gary, IN 46408 (MLS# 841261) is a Commercial property. 5490 W Ridge Road is currently listed for $250,000 and was received on June 25, 2026. Want to learn more about 5490 W Ridge Road? Do you have questions about finding other Commercial real estate for sale in Gary? You can browse all Gary real estate or contact a Coldwell Banker agent to request more information.

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