Property Lines

Welcome to Property Lines, Indy's favorite source for neighborhood real estate news. Your host, IBJ real estate beat reporter Scott Olson, can be reached at solson@ibj.com.
Real Estate & Retail

New owners plan Hamaker update

February 13, 2009

Hamaker BuildingThe new owners of the Hamaker Building at 49th and Pennsylvania streets are planning to spend more than $500,000 to repair the facade, add new landscaping and give the 1920s building new windows and a new awning. The local investors, led by Bryan Chandler of Eclipse Real Estate and Greg Rankin and John Bales of Venture Cos., paid $1.5 million for the 12,000-square-foot building. "It's just a building that hasn't had any TLC in 30 years," Chandler said. The new owners "will not" tear the building down, he said, calling it "the type of property that urban planners are copying around the country." The group bought the building from Judith C. Kaczmarski and her husband, George, who owned the former Hamaker Pharmacy. Current tenant Cafe Patachou is planning to expand into a neighboring space, and the new building owners are looking for a new tenant for the old pharmacy space. The deal was first reported in IBJ Real Estate Weekly here. (Image: Google Maps)
ADVERTISEMENT
Comments powered by Disqus