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$200,000
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Property Description
Three Acres of land across from a brand new commuter rail station to Chicago, few and far between, is the opportunity you've been waiting to arrive! Located within the Transit Development District, this prime real estate is rare earth. Set to open early next year, the South Hammond Station is fully constructed and right across the street. It is also connected to the Monon Bike Trail offering future residents high quality of life in a walkable, bikeable, and light rail rideable area along the new West Lake extension of the South Shore Line. The first new commuter rail in The Region in 100 years, this addition to North Township is certain to attract population growth and a desire for proximity. This is your blank canvass, raw and ready for your site plans. In just a few months riders will have six trains a day to Chicago as well as south to Munster Ridge and the Dyer stations! The bike trail features protected crossings headed north and south, bringing you to south to Munster and Crown Point or north to Downtown Hammond! There are an additional one hundred fifty feet of vacant frontage not included in this sale that could increase the total frontage on Lyman Avenue directly across from the new South Hammond Station. As it stands, this over three acres of undeveloped land offers over three hundred feet of frontage to the entrance of the station. Ride times to the third largest city in the country are estimated at thirty to forty five minutes depending on the number of stops. The most exciting fact of this prime of real estate is that it is already located within the Transit Development District as drawn by the city and RDA. That means all tax revenue generated at this location will remain within the TDD. That is not only an incentive for local government to approve development, it also means any taxes you pay will benefit the immediate area in which you intend to invest. Are you ready to help change the landscape of The Region? Welcome to South Hammond!
Full Property Details
Full Property Details for 7200 Lyman Ave
General
- Sold For: $200,000
- Taxes: $1,460 (2024)
- Status: Closed
- Type: Lots/Land
- Source: GNIAR
- MLS ID: 830464
- Added to Site: 71 day(s) ago
Location
- County: Lake
- Township: North
- Driving Directions: Exit 80/94 at Calumet Avenue north, Turn Left on 173rd Street and head west one mile to 173rd and Lyman Avenue. Property is located a block off 173rd St on Lyman.
Lot Features
- Lot Size (Acres): 3.1
- Lot Size (Sq. Ft.): 135,036
- Lot Features: Near Public Transit, Rectangular Lot
Financial Considerations
- Tax Amount: $1,460
- Tax Year: 2024
- Terms: Cash, Conventional
Disclosures and Reports
- Legal Description: PT. S.1/2 SW.1/4 S.12 T.36 R.10 PT. GOV. LOT 1 BETWEEN MEADOW LANE AND LYMAN AVE 3.1AC
- Property ID: 450612381041000023
Listed by Reeder Companies
Sold by Non Member
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Schools
Schools serving 7200 Lyman Ave
School District:Hammond School City
| Name | Grades | Distance |
|---|---|---|
Kenwood Elementary School, Hammond, IN 6416 Hohman Avenue, Hammond, IN 46324 | PK-5 | 1 mi |
Henry W Eggers Elem/Md School 5825 Blaine Ave, Hammond, IN 46320 | 6-8 | 1.7 mi |
Hammond High School 5926 Calumet Avenue, Hammond, IN 46320 | 9-12 | 1.7 mi |
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 7200 Lyman Ave
Date
Details
Price
Change
Source
1/07/2026
Sold
$200,000
—
MLS
11/07/2025
Listed
$200,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
7200 Lyman Avenue, Hammond, IN 46324 (MLS# 830464) is a Lots/Land property that was sold at $200,000 on January 07, 2026. Want to learn more about 7200 Lyman Avenue? Do you have questions about finding other Lots/Land real estate for sale in Hammond? You can browse all Hammond real estate or contact a Coldwell Banker agent to request more information.

