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Southlake Mall | Former Carson Pirie Box 1995 Southlake Mall 144,123 SF Vacant Retail Building Merrillville, IN 46410 $3,500,000 ($24.28/SF)
INVESTMENT HIGHLIGHTS
- Prime 144,123-SF big-box retail building in a bustling corridor along a major thoroughfare with 58,967 VPD with ample parking in Merrillville, IN.
- Encircled by a flourishing community with an annual spending power of $4.1 billion within a 10-mile radius and an impressive average household income.
- 6.59 parking ratio per 1,000 SF
- Favorably situated former Carson’s department store with a sought-after two-story open floor plan suitable for new ventures or revitalization.
- 11 Acres
- Southlake Mall – 3-Star Super Regional Mall & Hobart/Merrillville retail trade area
EXECUTIVE SUMMARY
Redevelopment Opportunity | 144,123 SF on 11 Acres | Merrillville, IN (Hobart)
Prime repositioning opportunity in Northwest Indiana. Former Carson Pirie department store anchor totaling 144,123 SF on 11 acres within Southlake Mall. Two-story masonry building with 17-22' ceilings, dock loading, freight elevator, and ample parking (950+ spaces). 35 miles from Chicago with direct access to I-65 and US-30. Strong fundamentals for adaptive reuse: retail, fulfillment, showroom, entertainment, or mixed-use. Priced to sell at $3,500,000.
Prime repositioning opportunity in Northwest Indiana. Former Carson Pirie department store anchor totaling 144,123 SF on 11 acres within Southlake Mall. Two-story masonry building with 17-22' ceilings, dock loading, freight elevator, and ample parking (950+ spaces). 35 miles from Chicago with direct access to I-65 and US-30. Strong fundamentals for adaptive reuse: retail, fulfillment, showroom, entertainment, or mixed-use. Priced to sell at $3,500,000.
DATA ROOM Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
144,123 SF
Building Class
B
Year Built
1976
Price
$3,500,000
Price Per SF
$24.28
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Loading Docks
6 Exterior
Building FAR
0.30
Lot Size
11.00 AC
Zoning
Parcel 1-PUD; Parcel 2-R4 - Local municipality said they'd be amenable to a rezoning to most any use, or open to a redevelopment, for just about any use other than self storage.
Parking
950 Spaces (6.59 Spaces per 1,000 SF Leased)
Frontage
291’ on Southlake Mall
AMENITIES
- Enclosed Mall
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 45-12-23-326-003.000-046 | Improvements Assessment | $1,145,200 |
| Land Assessment | $1,504,800 | Total Assessment | $2,650,000 |
PROPERTY TAXES
Parcel Number
45-12-23-326-003.000-046
Land Assessment
$1,504,800
Improvements Assessment
$1,145,200
Total Assessment
$2,650,000
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Southlake Mall | Former Carson Pirie Box | 1995 Southlake Mall
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