Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + Greater Chicagoland  + Retail  | 

“Med-Tail” Center in Hammond, IN Trades to 1031 Buyer

Marcus & Millichap arranged the sale of a new construction “med-tail” center, a 14,158-square-foot retail property located in Hammond, IN. The asset sold for $4,600,000. 

First VPs Mitchell Kiven and Nicholas Kanich, based in Marcus & Millichap’s Chicago Downtown office, marketed the property on behalf of the seller, a developer based in Hobart, IN.  Josh Caruana, Indiana Broker of Record, assisted in closing this transaction. 

The retail property is located at 1001 5th Avenue in Hammond, within a half mile of the Horseshoe Hammond Casino.  Built in 2017 and anchored by American Renal Associates, this retail center is also shadow anchored by a high-performing Walmart Supercenter with visibility from the Chicago Skyway. 

This was the fifth multi-tenant retail property Kiven and Kanich  sold for this seller within the past 12 months. After procuring a number of offers, Kiven and Kanich advised the seller to award the property to a 1031 buyer. 


Inside The Story

Marcus & Millichap Chicago Downtown

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).