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  5. ›RFP26C-9: 5244-46 5248 Hohman Ave

City of Hammond·Indiana

RFP26C-9: 5244-46 5248 Hohman Ave

Closes 5/19/2026$100k – $2MRequest for Proposal
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Description

The City of Hammond Redevelopment Commission is selling two adjoining parcels (5244‑46 & 5248 Hohman Ave) for private redevelopment. Bidders must submit a detailed redevelopment proposal, including site‑access plans and traffic flow analysis, and provide a 5 % bid security. The minimum purchase price is $480,000; the buyer must also handle any environmental remediation, obtain title insurance, and secure all required governmental approvals. The sale will be finalized within 90 days of award, and the development schedule will be negotiated post‑award. • Minimum purchase price: $480,000 (property sale, not a service contract) • Required deliverables: five copies of a redevelopment proposal, 5 % bid security, remediation plan (if needed) • Closing deadline: ≤ 90 days after award; redevelopment schedule to be mutually agreed • Evaluation criteria focus on development quality, schedule, financial resources, and experience.

Attached files

Contact

Anne Taylor

(219) 853-6508

Key dates

Opened
4/17/2026
Closes
5/19/2026

Last updated

Details

Type
Request for Proposal
Industry
Property Development
NAICS
531390
Solicitation №
RFP26C-9

Budget estimate

$100,000 – $2,000,000

The buyer must spend at least $480,000 on the purchase price plus 5 % bid security (~$24,000) and any remediation costs. Assuming the developer’s profit margin on redevelopment ranges from 10 % to 40 % of total project cost (which could be $1–5 million depending on the scale), the net earnings could plausibly fall between $100,000 on a modest project and $2,000,000 on a larger, higher‑value development. Factors influencing the range include the extent of environmental cleanup, the scope of construction, market absorption rates, and financing costs.

AI estimate from the solicitation

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