Calvary Realty is pleased to present The Pavilion on 45th & Hi-Tec Self Storage, a mixed-use retail and Self-Storage investment located on 45th Street in Munster, Indiana, within the Chicago metropolitan area.
Situated on approximately 11.35 acres, the property combines 19 retail suites and 153 Self-Storage units, providing diversified income from two complementary real estate uses. The retail component is currently 89% occupied, while Hi-Tec Self Storage is 97% occupied. The property generates approximately $1.18 million in annual revenue.
Beyond its existing income, the offering provides significant development potential. The property includes approximately 3.28 acres entitled for climate-controlled self-storage development and approximately 1.06 acres entitled for additional retail development. The property has also been subdivided into four separate parcels, providing flexibility for future development, financing, or disposition strategies.
Located approximately 30 minutes from Downtown Chicago, the property benefits from visibility along a corridor with approximately 15,883 vehicles per day and access to a densely populated surrounding trade area. The property is also located just minutes from Hammond, Indiana, where the Chicago Bears are advancing a proposal for a new stadium and surrounding mixed-use entertainment district. If completed as proposed, a development of this scale could generate additional investment, employment, tourism, housing, retail activity, and economic growth throughout the surrounding Northwest Indiana market.
The combination of in-place income, high storage occupancy, below-market retail rents, entitled expansion land, multiple parcels, and proximity to a potentially transformative regional development provides several avenues for future NOI and value growth
