Primary approval for Phase 1 with 93 lots was approved by City of Crown Point in April 2006. Layout and drawings available for renewal by Purchaser. Many lots were sold prior to the recession, but the improvements were not put in. Water and sewer available and costs for it were estimated at that time to be $400,000 - $450,000. Great topography and views. Price is less than 1/2 of the 2006 prices and acquisition costs, so priced to sell.
Great development opportunity. 81 lots for single family villa homes. 60, 65 and 80 foot wide lots. Fully engineered, zoned & ready for development. Water & sewer to property with sewer upgrades and water pump station in and paid by Seller. This project is an addition to Heritage Falls Subdivision which was a former site of the BIA Parade of Homes.
Price is for 1/3 ownership in RMS Development. Prime development location just South of the Gates Subdivision at 231 & Cline. Rental house covers all costs plus positive cash flow along with farm lease until property is developed. Other 2 partners are local Builder and Developer prominently known in area.
12 acres perfect for scenic wooded homesite or has great development potential. Backs large government owned outlot. 2,016 sq ft 2 Story home on property currently rents for $1,275/month ($675 upper level/$600 lower level). Also, 30x72 pole barn on property.