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  1. Bid Banana
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  4. ›Real Estate Development
  5. ›RFP26C-3: 6433-49 Kennedy Ave

City of Hammond·Indiana

RFP26C-3: 6433-49 Kennedy Ave

Closes 1/20/2026$200k – $500kRequest for Proposal
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Description

This solicitation offers the City of Hammond’s “Redevelopment Parcel” (6433‑49 Kennedy Avenue) for private purchase and subsequent redevelopment. Interested parties must submit a sealed proposal that includes detailed development plans, a 5 % deposit ($5,700), and meet all environmental, zoning, and permitting requirements. The city will evaluate proposals based on development quality, schedule, financial capacity, and overall fit with community goals. The buyer must close the purchase within 90 days of executing the Purchase Agreement and assume responsibility for any site remediation and construction costs. • Minimum purchase price: $114,000 plus a $5,700 deposit. • Mandatory submission deadline: 4 p.m. on 20 Jan 2026, with proposals delivered to 5925 Calumet Ave, Hammond, IN. • Buyer must provide insurable title, finance the redevelopment, obtain approvals, and remediate any contamination per a joint plan with the city.

Attached files

Contact

Anne Taylor

(219) 853-6508

Key dates

Opened
12/28/2025
Closes
1/20/2026

Last updated

Details

Type
Request for Proposal
Industry
Property Development
NAICS
531120
Solicitation №
RFP26C-3

Budget estimate

$200,000 – $500,000

The city’s sale price is $114,000, but the real revenue for a developer comes from the value added through redevelopment. Assuming modest site work and construction costs of $300‑$400 k, a well‑located mixed‑use project could be sold or leased for $600‑$900 k, yielding a profit range of roughly $200‑$500 k. This estimate accounts for purchase price, required 5 % deposit, remediation (if needed), construction, financing costs, and market risk.

AI estimate from the solicitation

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