The City of Hammond is thrilled to announce the approval of a landmark development and purchase agreement, breathing new life into an iconic downtown Hammond building and marking another milestone in the city’s downtown revival and economic development growth.
The approved agreement paves the way for the complete redevelopment of the historic commercial property located at 5243 Hohman, formerly the Mercantile National Bank Building. Owned by the Department of Redevelopment and offered through a Request for Proposals, the awarded project will bring vibrant new energy into already busy Hohman Avenue corridor. The development plan will transform the building into two exciting ground-floor restaurants complemented by 24 residential units spanning the top four floors.
This major announcement arrives on the heels of significant regional infrastructure, most notably the highly anticipated downtown Hammond Train Station on the South Shore Monon Corridor, which remains calendared for completion in 2027. The Downtown Station will create a walkable transportation option for downtown workers and residents connecting them with the Chicago Loop in a little over 30 minutes.
“Downtown Hammond is moving with incredible momentum and speed,” said Mayor Thomas M. McDermott, Jr. “Projects like this new development at the old Mercantile Bank prove that investors and entrepreneurs see the potential in our city. Between the upcoming train station and continued residential and commercial growth, Hammond’s downtown is truly transforming into northwest Indiana’s premier place to live, work, and play.”
Additional information regarding grand opening timelines and an upcoming ribbon-cutting ceremony will be announced in the near future.