31-33 Elizabeth Street

Description

Professionally managed six unit building nearby downtown Hammond. Two large main level 3 bedroom units and 4 second floor one bedrooms. Over $50,000 in gross rents with room to grow revenue. The city of Hammond is welcoming the West Lake extension to the South Shore Line commuter rail with a station being built about a mile from this property. Ground breaking and federal funding for this project were completed last month. Estimated completion date for the project is 2025. The city of Hammond is also investing in a plan developed by national expert Jeff Speck, who wrote the book on walkability, to revitalize downtown using reworked streetscapes as well as adding 1000 affordable housing units in the next 5 years. Property has a brand new flat roof replaced in 2019, and a newer steam boiler in 2005. Elizabeth Street is a historic street loaded with 20th century architectural masterpieces from single famiy, 2-4 unit buildings, and larger commercial multiunits like 31-33 Elizabeth Street.