Foreclosures

Centre Properties retail center hit with $7M foreclosure suit

August 9, 2012
Scott Olson
Indianapolis-based developer Centre Properties is the target of another foreclosure suit, this one involving Pyramid Place Shoppes, a retail center in a busy shopping area on the city's northwest side.
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National, state foreclosure starts on the rise

August 9, 2012
Bloomberg News, Associated Press
The number of homes that received an initial notice of default — the first step in the foreclosure process — increased 6 percent in July compared to the same month last year. Foreclosure starts rose 83 percent in Indiana.
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More U.S., Indiana homes facing foreclosure risk

July 12, 2012
Associated Press
More than 1 million properties experienced foreclosure filings in the first half of 2012. Twenty states saw a first-half rise in foreclosure activity from the same time a year ago. Indiana had the biggest rise on a percentage basis, with a 32-percent increase in foreclosure activity.
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Bank seeks to foreclose on local apartment complex

June 4, 2012
The owners of Arbor Green Apartments on the city's northeast side owe nearly $15.9 million on a 2008 loan, according to court documents.
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Indiana struggling to distribute foreclosure aid fundsRestricted Content

May 26, 2012
The $182 million awarded to the state by the federal government was based on the unemployment rate, which is falling.
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South-side medical office building in foreclosure

May 18, 2012
Munster-based Citizens Financial Bank claims the owner of the building at 1340 E. County Line Road owes $4.1 million on a loan originating from 2002 and is seeking to have a court-appointed receiver manage the building's operations.
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Once-promising Arcadia Resources closing doors

May 4, 2012
Scott Olson
The health care company that once promised to create 900 jobs in central Indiana has agreed to cease operations after a major lender moved to foreclose on the struggling Indianapolis-based business.
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Foreclosures down nationally, up in Indiana

April 12, 2012
Associated Press
Actual foreclosures sank to a five-year low in March, but the number of homes entering the foreclosure process is on the rise again.
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Foreclosures surge in most states, including Indiana

March 15, 2012
Associated Press
Indiana saw default notices climb 37 percent in February compared to February 2011. Scheduled home auctions were up 92 percent from the previous year.
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LISC sues to foreclose on Emrich's Furniture buildingRestricted Content

March 10, 2012
Kathleen McLaughlin
LISC, a not-for-profit lender, says it has not received any payments on its $515,265 construction loan since Jan. 1, 2011, and is owed more than $228,000.
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Bank seeks $2M from estate of London Witte Group founder

February 24, 2012
Scott Olson
The estate of Richard J. Salewicz, who died in 2010, is named in the foreclosure suit that also targets Tyson Corp., the company he owned on the southwest side of Indianapolis. Local accounting firm London Witte is not part of the court action.
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Foreclosure activity edges higher in January

February 16, 2012
Associated Press
Banks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year. Foreclosures were up 69 percent in Indiana compared to January 2011.
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Foreclosure sought for downtown's Century Building

February 15, 2012
Scott Olson
The lender claims owner Blue Real Estate defaulted on an $8.5 million loan on the historic building after failing to make payments beginning in July 2011.
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13K Indiana foreclosure victims to get $2K checks

February 9, 2012
Associated Press
Indiana homeowners will receive about $43 million in refinanced loans while other borrowers will get $30 million worth of loan-term modifications and other relief as part of a $25 billion nationwide settlement with the country's biggest mortgage lenders.
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Few in Indiana using state fund to avoid foreclosure

January 30, 2012
Associated Press
A state program created to help Indiana residents avoid foreclosure by providing them with 10-year loans is seeing few takers even though the state's foreclosure rate is among the highest in the nation.
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East-side biz incubator target of foreclosure

January 18, 2012
Wells Fargo Bank claims in a lawsuit that Indianapolis Enterprise Center LLC defaulted on a $3.1 million loan. The bank wants the center's property sold to help satisfy the debt.
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East-side apartment complex target of $9M foreclosure

December 13, 2011
A Marion Superior Court judge has approved the appointment of a receiver to manage Lexington Park near North Post Road and East 38th Street.
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Bank hits Centre Properties with $43M suitRestricted Content

November 19, 2011
Scott Olson
Three local strip centers owned by longtime Indianapolis developer Centre Properties are the target of a $43 million foreclosure lawsuit brought by the real estate firm’s lender.
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Default notices, home seizures climb in Indiana, nation

November 10, 2011
 IBJ Staff and Bloomberg News
Indiana outpaced the rest of the nation last month in the number of default notices sent to delinquent homeowners and the amount of homes seized as U.S. foreclosure filings rose to a seven-month high.
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West-side Godby building in foreclosure

November 7, 2011
Scott Olson
A building at 4701 Rockville Road, owned by local businessman Thomas Godby, is the target of a $2 million foreclosure suit filed by Old National Bank. The building's tenants include Tony Stewart Racing Enterprises and Sara Fisher Racing LLC.
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Mortgage-default filings surge in Indiana, nation

September 15, 2011
Bloomberg News
Default notices sent to delinquent U.S. homeowners surged 33 percent in August from the previous month, a sign that lenders are speeding up the foreclosure process. Indiana saw an increase of 46 percent, a bigger rise than every state except California.
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Receiver appointed in $16.8M foreclosure suit

August 29, 2011
Scott Olson
Lender Merrill Lynch Mortgage Trust is foreclosing on several Indianapolis commercial properties, including two retail centers, owned by Greenwood developer Presnell Cos.
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Greenwood developer target of foreclosure suit

August 24, 2011
Two Indianapolis-area retail centers are listed in a $16.8 million lawsuit that includes a total of six properties owned by the Presnell Companies of Greenwood.
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Owner attempting to foreclose on Walker Theatre property

August 8, 2011
Scott Olson
Theater directors agreed to purchase the property north of the theater on contract in January 2006. Officials hoped to use the land to accommodate an expansion that never materialized.
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Lenders attempting to foreclose on Broadbent headquarters

July 28, 2011
Scott Olson
Huntington National Bank and PNC Bank claim they are owed roughly $25 million on loans related to Broadbent Co.'s purchase and renovation of a building on East Washington Street downtown.
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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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