About 532-34 Conkey Street
Value add mixed use investment opportunity with massive upside potential in EXCELLENT condition! Currently generating 1,650/month from only two residential studio units (750 and 900 each), this property offers the ability to increase income to over 5,500/month through lease-up, unit expansion, and rent stabilization. The property features six total units retail, office, and residential including a 3,000 SF commercial space and a 1,950 SF commercial/office unit, both vacant and capable of commanding 1,200-1,600/month each. Two additional vacant office spaces can rent for 500-650/month each, or could be converted into larger residential units commanding 1250-1,500/month each. Off-street parking, additional rear lot space/storage, and on site laundry make this property highly appealing to tenants. Ideal for investors seeking to build equity, increase cash flow, and reposition an underperforming asset in a strong rental market.
Features of 532-34 Conkey Street
| MLS® # | 836484 |
|---|---|
| Price | $489,999 |
| Bathrooms | 0.00 |
| Square Footage | 6,000 |
| Acres | 0.15 |
| Year Built | 1955 |
| Type | Commercial Sale |
| Sub-Type | Mixed Use |
| Status | Pending |
Community Information
| Address | 532-34 Conkey Street |
|---|---|
| City | Hammond |
| County | Lake |
| State | IN |
| Zip Code | 46324 |
Amenities
| Utilities | Cable Available, Water Connected, Sewer Connected, Natural Gas Connected, Electricity Connected |
|---|---|
| Parking Spaces | 5 |
| Parking | Off Street, On Street, Alley Access, Additional Parking, Other |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Natural Gas |
|---|---|
| Fireplace | No |
| Has Basement | No |
Exterior
| Exterior Features | Balcony, Storage, Private Yard |
|---|---|
| Lot Description | Back Yard, Rectangular Lot, Near Public Transit, Paved, Corner Lot |
School Information
| District | Hammond |
|---|
Additional Information
| Date Listed | April 3rd, 2026 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
Listing Details
| Agent | Anil Bhalla |
|---|---|
| Office | Listing Leaders Northwest |