Investment Overview

FOR SALE OR LEASE. Marcus & Millichap is pleased to exclusively represent for lease or for sale the Lakeside Ambulatory Surgery Center located at 810 W Chicago Ave, East Chicago, Indiana. If purchased, the property would be conveyed by Trustee’s Deed. The total rentable building area is 9,555 square feet situated on 0.14 acres. Buildout includes two operating rooms, recovery area with six beds and a nurse's station, exam rooms, lab, physicians' offices, locker rooms. Backup generator, full sprinkler system, new roof installed 2024 and plumbed for medical gas. The building provided surgical services, including gynecology, ENT, gastroenterology, general surgery, pain management, orthopedic, urology, podiatry, and cosmetic surgery. Certain equipment is available onsite for a new tenant’s use (as is). Ask broker for a list of equipment. Conveniently located along W Chicago Ave (13,613 Vehicles per Day) between two signalized intersections, the subject property is 2 miles from I-90 interchange (28,543 Vehicles per Day), and 500 feet from a GPRT R1 bus stop (connecting passengers from Hammond to Gary), making it easily accessible for patients. The property is situated in a healthcare hub, two miles from St. Catherine Hospital, a 225-bed Powers Health facility and the largest integrated healthcare system in Northwest Indiana. The hospital is recognized as one of only 102 nationwide to earn a five-star rating for patient care from the Centers for Medicare & Medicaid Services. The nearest ASC is Williams Eye Institute, located 5.25 miles away. There are 9 ASCs within 10 miles of the property offering specialties including orthopedic surgery, neurology, pain management, plastic surgery, and ophthalmology. East Chicago, Indiana is located within the Chicago, Illinois MSA (Population: 9,449,351; Rank: Third) Indiana submarket, 20 miles from downtown Chicago. East Chicago’s downtown area has undergone a revitalization, featuring the redeveloped North Harbor, lakefront, and marina. In 2024, the city continues to experience significant development, with a focus on infrastructure enhancements and environmental sustainability. The average household income is $61,074 and local population is 179,369 within five miles. This Indiana office submarket presents a compelling investment opportunity with a stable vacancy rate of 5.1 percent, significantly lower than the Chicago market. Over the past year, the submarket has seen positive absorption of 73,000 square feet and a 1 percent increase in rents. Over the past three years, the submarket has expanded by 55,000 square feet, with rents increasing by 5 percent, outperforming the Chicago market average of 2.3 percent (CoStar Group, June 2024). The property benefits from its proximity to the Chicago metro population and the favorable Indiana business environment. Indiana is the top-ranked Midwestern state and the sixth-best state for business in the country (Chief Executive Magazine, 2024). While the center is currently vacant, it presents an excellent value-add opportunity for an investment sale, or immediately available for a new tenant.