NOT LISTED FOR SALE

2540 Schrage Ave Whiting, IN 46394

Whiting Area

Estimated Value: $207,102 - $233,000

9 Beds
5 Baths
4,410 Sq Ft
$50/Sq Ft Est. Value

Sale Details

Date Sold: June 3, 2014

Last sale price $92,500 $21 Per Sq Ft

Est. 138% increase in value since last sale

Current estimated payment $1,210 / mo

342 Days on Market

Highlights

  • Forced Air Heating System
  • Laundry Facilities
  • Fenced

About This Home

As of June 2014

Well maintained 5 unit building fully rented and ready to make you instant income. Tenant's pay their own utilities and have individual furnaces. Located in Whiting with easy access to industry, parks and recreation, and a short commute to Chicago. Many of the tenants have a long solid rental history and want to stay. Currently all tenants are on a month to month lease.

Last Agent to Sell the Property

James Staley

Weichert Realtors - Shoreline License #RB14046178 Listed on: 04/20/2013

Last Buyer's Agent

Trinity McCormick

McCormick Real Estate, Inc. License #RB14034169

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1914

Lot Details

  • 1,900 Sq Ft Lot
  • Fenced

Parking

  • 6 Parking Spaces

Interior Spaces

  • 4,410 Sq Ft Home
  • Elevator
  • Basement

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 5 Full Bathrooms

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Total Actual Rent $25,361
  • Rent includes trash collection, water
  • Assessor Parcel Number 450317101033000025

Community Details

Overview

  • 5 Units
  • Whiting Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Insurance Expense $2,605
  • Water Sewer Expense $720
  • New Taxes Expense $3,400
  • Gross Income $850
  • Net Operating Income $17,766

Property Details

Home Type

Multi-Family

Year Built

Built in 1914

Lot Details

1,900 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Year Built: 1914
  • ResoLaundryFeatures: Common Area
  • Road Surface Type: Gravel
  • Co List Office Mls Id: NRA970
  • Subdivision Name: Whiting
  • WaterExpense: 720.00
  • SewerExpense: 720.00
  • NumberOfStores: 0
  • AuctionYN: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Range, Refrigerator
  • Interior Amenities: Elevator
  • Basement: Crawl Space, Sump Pump
  • Basement YN: Yes
  • Full Bathrooms: 5
  • Total Bedrooms: 9
  • ResoLivingAreaSource: Assessor

Exterior Features

  • Fencing: Fenced
  • Acres: 0.0436
  • Construction Type: Aluminum Siding

Garage/Parking

  • Parking Features: Other
  • Total Parking Spaces: 6

Utilities

  • Utilities: Sewer Available
  • Cooling: Individual Units
  • Heating: Forced Air, Individual Unit, Natural Gas
  • Water Source: Public

Condo/Co-op/Association

  • HOA Rent Includes: Trash Collection, Water

Schools

  • Junior High Dist: Whiting

Lot Info

  • Lot Dimensions: 19 by 100
  • Lot Size Sq Ft: 1900
  • Parcel #: 450317101033000025

Rental Info

  • Lease Term: Month To Month
  • LeaseType: Net

Multi Family

  • Number Of Units Total: 5
  • Annual Gross Income: 850
  • Insurance Expense: 2605
  • Total Actual Rent: 25361

Tax Info

  • New Taxes Expense: 3400

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 20, 2013
Closed on
Apr 10, 2014
Sold by
Bought by
Seller's Agent
James Staley
Weichert Realtors - Shoreline
Buyer's Agent
Trinity McCormick
McCormick Real Estate, Inc.
List Price
$92,500
Sold Price
$92,500
Current Estimated Value
$220,051

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$127,551
Avg. Annual Appreciation
7.37%

Purchase Details

Closed on
Aug 25, 2011
Sold by
Bought by
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- Chicago Title Co Llc
-- None Available
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
06/03/2014 06/03/14 Sold $92,500 0.0% $21 / Sq Ft
05/04/2014 05/04/14 Pending -- -- --
04/20/2013 04/20/13 For Sale $92,500 -- $21 / Sq Ft
Source: Northwest Indiana Association of REALTORS®

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $18 $1,900 $1,900
2024 $26 $1,900 $1,900
2023 $18 $600 $600
2022 $18 $600 $600 $0
2021 $18 $600 $600 $0
2020 $18 $600 $600 $0
2019 $18 $600 $600 $0
2018 $18 $600 $600 $0
2017 $18 $600 $600 $0
2016 $18 $600 $600 $0
2014 $3,189 $149,200 $8,300 $140,900
2013 $2,954 $137,900 $8,300 $129,600
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2014

    James Staley

    Weichert Realtors - Shoreline

    (708) 975-1653

    64 Total Sales

    James Staley
    Section Image
  • Trinity McCormick

    Buyer's Agent in 2014

    Trinity McCormick

    McCormick Real Estate, Inc.

    (219) 613-6464

    12 Total Sales

    Trinity McCormick
    Section Image
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Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: 326672

Northwest Indiana Association of REALTORS®

APN: 45-03-17-101-033.000-025

Indiana Lake County Whiting 46394

2540 Schrage Ave, Whiting, IN

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Northwest Indiana Association of REALTORS® All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Copyright 2026 Multiple Listing Service of the Northwest Indiana Realtors Association Multiple Listing Service (NIRA MLS). All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Listings courtesy of Northwest Indiana Association of REALTORS® as distributed by MLS GRID.
Based on information submitted to the MLS GRID

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