Sale Conducted Pursuant to U.S. Bankruptcy Court Order — Case No. 22-20965-jra

Gallivan Auction & Appraisers, on behalf of Christopher R. Schmidgall, Chapter 7 Trustee, invites sealed bids for the purchase of 100% membership interest in Dapan Investments LLC. LLC’s primary asset is the commercial real property at 11200 W 129th Ave, Cedar Lake, Indiana — formerly home to Goodfella’s Bar & Grill, a long-established Cedar Lake landmark. The successful bidder acquires 100% of the LLC and, through it, ownership of the underlying real estate.

ALSO INCLUDED IN THE SALE IS 100% INTEREST IN DAPAN ENTERTAINMENT INC. DAPAN ENTERTAINMENT HOLDS THE LIQUOR LICENSE #RR4531888. RIGHTS TO THE LICENSE, CURRENTLY IN ESCROW, IS INCLUDED IN THE PURCHASE, SUBJECT TO INDIANA LAW. (SEE DOCUMENT ON OUR WEB PAGE)

This is a rare opportunity to acquire a commercially zoned, 2-acre improved property in Cedar Lake’s growing commercial corridor along US 41. The site features a 3,278 SF brick building with a terraced patio, drive-up window, cold storage, and an 18,200 SF paved parking lot. Commercial zoning and existing infrastructure support a wide range of owner-user and investor applications.

Abbreviated Terms (Complete terms of sale will be posted to our website):

A 10% Buyer’s Premium will be added to the high bid, and when added, will result in the total purchase price.

We are selling 100% Membership in the LLC, which owns the real property, and 100% ownership of the corporation holding the liquor license. the sale is “As-Is”, free and clear of liens

Deposit due at bid qualification — $15,000 non-refundable, certified funds or wire transfer prior to bidding.  Deposits from unsuccessful bidder will be returned within 3 days after preliminary Bankruptcy Court approval. Upon preliminary Court approval, Within 3 days after bidding ends, Purchaser is required to pay an additional deposit equal 10% of the total purchase price.

Not subject to financing contingency

Sale is of LLC membership interest and corporation interest only. All bidders must perform their own independent due diligence.

Sale subject to Bankruptcy Court approval

PROPERTY INFO-

Address:                               11200 W 129th Ave, Cedar Lake, IN 46303

County:                                 Lake County / Hanover Township

Lot Size:                                +/- 2.00 AC (435.6 ft x 200 ft)

Zoning:                                 Commercial

Parcel No.:                           45-15-20-278-026.000-014

Annual Taxes:                    Approx. $14,269/year

What You Buy:                    100% membership interest in Dapan Investments LLC and Dapan Entertainment, Inc.

BUILDING INFORMATION-

Primary Building:               3,278 SF | Brick, 1-story | Built 1978 (Renovated ~2000)

Terraced Patio:                   3,073 SF (added 2012)

Canopies:                             540 SF commercial

Paved Parking:                   ~18,200 SF asphalt lot

Utilities:                                 Sewer, Gas, Electric | Public road access | No flood hazard

Assessed Value:                $530,000 total (2022) — Land: $261,000 | Improvements: $269,000

Former Use:                        Bar & Grill (previously a bank)

LOCATION HIGHLIGHTS-

US Route 41 (W 129th Ave):        Direct frontage — primary commercial artery

Chicago Metro:                   ~40 miles southeast of Chicago Loop

Hammond / Gary, IN:         ~15 miles northwest

Merrillville, IN:                     ~10 miles south — major retail hub

Lake County Seat (Crown Point):          ~12 miles south

KEY DEMAND DRIVERS-

US 41 Corridor – High-traffic commercial artery with strong visibility and access

Cedar Lake Commercial Growth – Active development along the US 41 corridor

NW Indiana / Chicago Metro Labor Pool – Deep workforce base within commuting distance

Flexible Commercial Zoning – Broad permitted uses including food service, retail, office, medical, and more

Established Infrastructure – Terraced patio, drive-up window, ample parking, cold storage

POSSIBLE USES-

Restaurant / Bar  ·  Cafe or Coffee Shop  ·  Retail Boutique  ·  Medical or Dental Office  ·  Professional Office  ·  Event Venue / Banquet Hall  ·  Brewery or Taproom  ·  Pet Care / Grooming  ·  Fitness Studio  ·  Food Truck Commissary

MARKET CONTEXT-

Cedar Lake Population:   ~14,000 (est. 2024)

Lake County Population: ~481,000

Assessed Value (2022):    $530,000

Annual Property Taxes:   Approx. $13,459/year

For bidder package, property information, Terms of Sale and deposit instructions, contact:

Matt Gallivan

matt@njgallivan.com

(317) 227-3720