Crew recently bought the property that contains the steakburger chain’s location on East 86th Street with plans to build a new carwash. But it contends in a lawsuit that Steak n Shake has refused to leave.
RACER Trust and Muncie officials said they have reached an agreement for the city to purchase the 53-acre main parcel of the former property.
The new majority owner says it plans to retain the Stutz property’s historic character but isn’t yet revealing details about its plans for the 110-year-old downtown complex.
IndyGo has purchased one parcel and is working to purchase an adjacent one for its Open Door paratransit service, which is now housed on the city’s northeast side.
The 1.1 million-square-foot tower is arguably the most prestigious office address in the city, but the pandemic has exacerbated already-pressing questions about the future of traditional office space.
The east-side site, at 9503 E. 33rd St., will serve as an additional location for IndyGo, which has outgrown its current West Washington Street headquarters.
Beyond the public company’s $100 million headquarters campus, city and state leaders expect 26 acres to be used for an expansion of White River State Park and new projects potentially with residential, retail and office uses.
Owner Tom Main, 63, said he contacted a broker to put the business on the market. The asking price is $1.2 million, which includes both the business and the 900-square-foot building it occupies in Herron-Morton Place.
The median home price in the area reached $221,000, up 15.1% from a year ago when the median price was $192,000.
IndyGo has been evaluating possible expansion sites around the city in recent months because it has run out of room at its West Washington Street headquarters.
Indianapolis-based Cityscape Residential’s plans to ask the city for an $8 million TIF bond to help support its 287-unit luxury apartment complex. The project is also slated to feature a potential three-story, 30,000-square-foot office building.
Dennis Nottingham’s Indy Home Pros Team claims the No. 1 spot (again) on the teams list, while Jennil Salazar of RE/MAX Ability Plus repeats for the second year as the top IBJ All-Star solo agent.
IndyGo is on the hunt for additional space because its staff and bus fleet have grown in recent years, making its current headquarters on West Washington Street too small for its needs.
The transit agency is now considering a site on Post Road that is much larger than the former Harrison College site downtown and potentially much less expensive.
The 996-unit community was constructed in 1982 and is slated for renovations by its deep-pocketed buyer.
Beloved in the Chicagoland area, the deep-dish chain confirmed to IBJ in March that it planned to enter the central Indiana market with several locations.
Atlanta-based Peachtree Hotel Group bought the Hampton Inn by Hilton at 105 S. Meridian St. and a 50-car parking lot at 102 S. Pennsylvania St.
The suit, filed Tuesday in Marion Superior Court by Evansville-based Old National Bank, claims Paul Kite and his firm owe the bank $15.8 million.
The Indianapolis Public Library has reached an agreement in principle to close its Fountain Square branch in May so the not-for-profit literacy organization can move its bookstore to the space this summer.
The Central Indiana Land Trust Inc. plans to open the 12.2-acre White River Bluffs Nature Preserve in 2021.
