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Broad Ripple landmark has new owner

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A landmark building in the heart of Broad Ripple has a new owner that’s seeking tenants for the historic brick structure.

Monon Housing Partners LLC bought what’s known as Mustard Hall near the southeast corner of Broad Ripple and Guilford avenues.

REW masonic lodge 15colMustard Hall has been a Masonic Lodge and nightclub in previous incarnations. Its new owner is looking for entertainment and office tenants. (IBJ Photo)

Built around 1920, the 12,000-square-foot building at 6235 Guilford Ave. originally housed a Masonic Lodge and later a bank. The building, which in recent years housed the Tru nightclub, has been vacant since the departure of Buffalo Wild Wings Grill & Bar last year.

Monon Housing Partners closed on the sale April 15. It paid a total of $1.35 million for it and a residence directly to the south that has been converted to commercial use. It last housed a hair salon.

Jason Challand, president of Echelon Realty Advisors, represented the seller in the transaction.

Connecticut-based Consolidated Wings Investment LLC, which in 2011 bought 16 Buffalo Wild Wings restaurants in central Indiana, had owned both buildings. It relocated the Broad Ripple restaurant to an outlot of Glendale Mall at 62nd and Rural streets.  

Monon Housing CEO Kyle D. Bach envisions an entertainment venue on the first floor with office space above.

“With such a beautiful historic structure, I think it’s important to keep a use that’s conducive to that area that can be profitable,” he said.

A few possible tenants have shown interest, said Bach, whose firm plans to spend a total of about $250,000 to renovate both properties.

Bach and Rob Martinson operate three companies from 911 Main St., just a few blocks north of Mustard Hall. Besides Monon Housing, they own Mecca Cos., a real estate development firm, and Annex Student Living, a student housing developer.

“I think it’s a great building with a great history,” Broad Ripple real estate broker Bryan Chandler said. “Its location is right in the middle of things but also slightly removed from all the activity on the Avenue. It’s got all sorts of potential.”

A couple of other developers in Broad Ripple, Drew Loftus and Kyle Robinson, took a look at the building but passed despite their fondness for it.

“I think it’s a very unique historic building,” Loftus said. “Certainly what we’ve seen is that office is in demand [in Broad Ripple] and does well.”

The property caught the attention of Broad Ripple leaders as well.

In 2011, the building appeared on a list of 60 properties compiled by the Committee for Historic Broad Ripple, a part of the Broad Ripple Village Association that raises money for preservation efforts.

Those efforts include nominating buildings for the National Register of Historic Places. The committee began seeking donations three years ago for its Historic Broad Ripple Fund, which will pay for National Register nominations, informational brochures about historic Broad Ripple buildings and plaques to affix to structures that are added to the National Register.

Mustard Hall isn’t the only real estate acquisition Monon Housing has made in Broad Ripple lately. It also bought a three-unit residential building, for $350,000, at the southwest corner of Main and Guilford.

Bach and Martinson are considering converting it to a commercial use.
 

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  • 21C
    I have no connection to 21C or any other hotel, but I have stayed at the one in Louisville and it is wonderful. It would definitely be a great addition to Broad Ripple! Just not sure this building would be large enough.
  • Hotel
    JJ- Just for clarification, there is a bed and breakfast locating where you mentioned, not a hotel. I do like the idea of a boutique hotel in this location with possibly a martini bar, wine bar, or restaurant on the ground floor. There are too few higher end establishments in BR, and there is obviously a demand (Northside Social, Corner Wine Bar, Usual Suspects, etc.). Ambrosia even performed well, but I think the lack of close parking prompted the move. Maybe this is too lofty or swanky of an idea for Broad Ripple, but it might just help clean up the late night weekend riff raff.
  • Hotel
    There is a new hotel opening soon in Broad Ripple, hotelbroadripple.com which is located on Westfield, just north of 65th. But you are correct, that would be another great spot for something like that in the BR area! I do really like the idea of more office space as well!
  • I'm with Tanya
    I love Tanya's idea of hotel. There's nothing like that nearby!
  • Mustard
    What a special building - excited to see new life breathed into this wonderful corner.
  • Hotel?
    There is a dearth of hotel rooms in the Broad Ripple area. This building would be perfect for a boutique hotel such as a 21C, etc.
  • Great news
    It's great to see creative office space being added to the market and daytime traffic increasing in Broad Ripple. There has been a significant shortage of quality options for quite some time. Congrats.

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  1. Kent's done a good job of putting together some good guests, intelligence and irreverence without the inane chatter of the other two shows. JMV is unlistenable, mostly because he doesn't do his homework and depends on non-sports stuff to keep HIM interested. Query and Shultz is a bit better, but lack of prep in their show certainly is evident. Sterling obviously workes harder than the other shows. We shall see if there is any way for a third signal with very little successful recent history to make it. I always say you have to give a show two years to grow into what it will become...

  2. Lafayette Square, Washington Square should be turned into office parks with office buildings, conversion, no access to the public at all. They should not be shopping malls and should be under tight security and used for professional offices instead of havens for crime. Their only useage is to do this or tear them down and replace them with high rise office parks with secured parking lots so that the crime in the areas is not allowed in. These are prime properties, but must be reused for other uses, professional office conversions with no loitering and no shopping makes sense, otherwise they have become hangouts long ago for gangs, groups of people who have no intent of spending money, and are only there for trouble and possibly crime, shoplifting, etc. I worked summers at SuperX Drugs in Lafayette Square in the 1970s and even then the shrinkage from shoplifting was 10-15 percent. No sense having shopping malls in these areas, they earn no revenue, attract crime, and are a blight on the city. All malls that are not of use should be repurposed or torn down by the city, condemned. One possibility would be to repourpose them as inside college campuses or as community centers, but then again, if the community is high crime, why bother.

  3. Straight No Chaser

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