The Brickyard of Hidden Lake Subdivision

Highlights

• 17.25 Acres Residential Development Land
• Master-Planned Mixed Neighborhood Residential
• Low- to Medium-Density Housing
• Lake Frontage Property-Hidden Lake
• Thriving Local Economy-US Steel, Port of Indiana
• 39 Miles Southeast of Chicago
• Proximity to Lake Michigan/Dunes State Park
• Stong Market Demand-Median home Price: $237,300

Description

EXP Commercial is pleased to present a compelling development opportunity in Northwest Hobart, Indiana, just 39 miles southeast of Chicago, Illinois. This offering encompasses approximately 17.25 acres within The Brickyard of Hidden Lake Subdivision, featuring a mix of 48 platted lots, some boasting coveted lakefront property with access to Hidden Lake. The city of Hobart's Master Plan designates this land for future land use as Mixed Neighborhood Residential, enhancing its development potential.

This prime location presents an exciting opportunity to develop a dynamic residential project. The Mixed Neighborhood Residential areas are defined by low- to medium-density neighborhoods with a mix of compatible uses. These denser neighborhoods are characterized by smaller lot single-family homes, attached housing, and two- to three-flat multifamily buildings. They serve as transitional areas that buffer higher intensity uses such as multifamily, commercial, and light industrial from the traditional suburban residential character. While primarily residential, these areas allow for a variety of other neighborhood-serving uses, promoting livability and fostering social interaction. This future land use designation was established to retain and further emphasize Hobart’s naturally occurring mixed neighborhood areas, where a healthy mix of uses often suffuses predominantly traditional single-family residential areas.

Notably, Lot 33 already has approval for a five-unit townhome building, showcasing the potential for a development that caters to a variety of preferences. The infrastructure has not been completed for this offering.

The residential real estate market in Hobart, Indiana, is highly favorable for builders in 2024, with strong demand and consistent growth. The median home price in Hobart has risen to approximately $237,300, reflecting a healthy and active market. The number of homes sold and listed has increased significantly, showcasing robust buyer interest. Hobart’s thriving local economy and attractive community features make it an ideal location for new multi-parcel residential developments.

Beyond its convenient location, Hobart itself is experiencing a surge in residential growth, particularly in outlying areas with available land. A variety of industries and professional services drive the city’s thriving economy. Steel production and automotive parts manufacturing are particularly strong sectors, with major employers like U.S. Steel Corp. providing stability and a diverse job market for future residents. The area is also home to The Port of Indiana, located in Burns Harbor, offering a variety of industry-type work opportunities alongside established local businesses like A & K Railroad Materials Inc. and Eagle Engineering.

The property’s proximity to Lake Michigan provides a wealth of recreational opportunities. The National Dunes State Park offers 2,182 acres of natural beauty, including over three miles of shoreline with a public beach. Amenities include a pavilion with restrooms and a seasonal snack bar. Beyond the beach, extensive woodlands offer opportunities for camping, hiking, picnicking, horseback riding, and biking along a trail that stretches all the way to Michigan City. Water sports enthusiasts will find nearby marinas offering boat rentals, fishing charters, and hundreds of slips for rent.

Hidden Lake itself reaches depths of 40 feet in some areas, with an average depth of 20 feet, providing ample space for boating and fishing enjoyment right outside residents’ doorsteps.

Families will appreciate the excellent schools serving the area. Hobart, Indiana, boasts some of Lake County’s finest schools, and Hidden Lake offers its children access to the top-rated institutions, including George Earle Elementary, Hobart Middle School, and the state-of-the-art Hobart High School, which opened in January 2009. All three schools are located within a convenient two-mile radius.

Hobart, IN