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  5. ›RFP26R-10: 2222 Lake Ave (Clark Fields)

City of Hammond·Indiana

RFP26R-10: 2222 Lake Ave (Clark Fields)

Closes 10/6/2026$200k – $500kRequest for Proposal
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Description

The City of Hammond Redevelopment Commission is offering a single municipal parcel (2222 Lake Avenue, Clark Fields) for private redevelopment via an RFP. Interested parties must submit a redevelopment proposal that includes detailed improvement plans, intended use, and a 5 % cash deposit ($1,150) with the minimum purchase price of $23,000. Proposals are due by 4 p.m. on October 6, 2026, with opening at 4:15 p.m. The buyer must close within one year of executing the purchase agreement and obtain city approvals for design plans within 18 months. The city will provide title insurance, but all other approvals and financing are the buyer’s responsibility.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Anne Taylor(Parcel Inspection Contact)

(219) 853-6508

Key dates

Opened
10/6/2026
Closes
10/6/2026
Duration
2 years

Last updated

Details

Type
Request for Proposal
Industry
Property Development
NAICS
531110
Solicitation №
RFP26R-10

Budget estimate

$200,000 – $500,000

While the solicitation only specifies a $23,000 minimum purchase price and a $1,150 deposit, a successful developer would likely undertake a full residential or mixed‑use project. Based on comparable small‑scale redevelopment projects in the Hammond area, total development costs might range from $250k to $600k, with profit margins of 15‑25 %. This suggests a potential earnings (profit) range of roughly $200,000 to $500,000 for the developer. Factors influencing this estimate include land acquisition cost, construction expenses, financing terms, and market conditions.

AI estimate from the solicitation

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