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East-side Ramada fetches $1.3M in online auction

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A foreclosed Ramada Inn on Indianapolis’ east side sold in an online auction Thursday for $1.3 million.

Donna Bray, the hotel’s director of sales, said staffers hope to learn the identity of the buyer and the buyer’s intentions for the property in about 30 days.

The two-story hotel, near Interstate 465 and Pendleton Pike, opened in 1970 and remains in business. It has 188 rooms, 12,500 square feet of meeting space, indoor and outdoor pools and a restaurant space used by Bennigan’s.

The property recently had been listed for sale by Clinton, N.J.-based Unity Bank for $1.8 million. The minimum permitted bid in the auction was $300,000.

 

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  • Eyesore
    I hope they tear it down! That place is a rat hole and Bennigens isn't any better. We made the mistake of checking in there when our power was out and the place smelled like mold, the pool was nasty, it was just gross.

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