Whiting Indiana? Anyone invest here

[Henry Lazerow]

Anyone invest in Whiting Indiana 2-4 units? I work heavily in Chicago and am happy to share any info on our local market in return. 

Some questions.....

It appears 4 units are selling 2-3x as high of prices compared to nearby areas such as Hammond. There is very few listings in MLS so not a ton of data to sort through. Are the tenants that much better/rents that much higher? What is considered a good deal for a ready to rent (not rehabbed) 4 unit in Whiting Indiana? Average rents for a nice shape but not newly rehabbed 2br 1ba, 3br 1ba?

What vacancy are you seeing? I assume appreciation will be pretty null at least compared to Chicago class A/B. Anything else should know about this area? I drive through all the time when kiteboarding at Wolf Lake and it's just outside Chicago would like to learn more. 

Feel free to PM.  

Thanks 

[Adrien C.]

Whiting is in interesting submarket in NWI. It's a very small town (much of what has a whiting address is really Hammond). When properties become available, they go quickly. AS far as the 2-3X compared to Hammond, it depends on where in Hammond. Just south of Whiting is central Hammond and that area is still junk with junk values. You go to south Hammond (south of 165th St) and you'll start to see prices jump again. I would assume it has to do with proximity to BP and the mills. Appreciation is decent for NW Indiana but it wont compare to Chicago A/B areas. Neither will the taxes... lol. NW Indiana is boring. We don't experience the ups and downs that the coasts or Arizona or A/B areas in Chicago. We're Steady Eddie. But that means we don't crash as bad when they market takes a dump. Rents are moderate but taxes are low and Indiana in general is a very pro landlord state.