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Real estate deals
Oesterle sells land to Angie's List, reaping millions
May 18, 2013
Chris O'MalleyAngie’s List Inc. CEO Bill Oesterle has collected millions of dollars over the years by renting to the company property
for its campus along East Washington Street. Now, the landlord and chief executive is pocketing millions more by selling Angie’s
the property, at well above its assessed value.
MoreAthenaeum weighs redevelopment bids for surface parking lot
May 18, 2013
Scott OlsonThree developers are competing to build a mixed-use project likely to include a parking garage on a surface lot adjacent to
the historic Athenaeum building.
MoreDowntown Lilly building fetches $90 million
May 16, 2013
Scott OlsonAmerican Realty Capital, a real estate investment firm based in New York City, bought the building on South Meridian Street
occupied by Rolls Royce Corp. Lilly vacated the facility in 2010.
MoreWhitsett goes big with Star project
May 10, 2013
Scott OlsonA local developer plans to tear down part of the Indianapolis Star’s downtown headquarters while saving most
of the building in a redevelopment that calls for 350 apartments—more units than the massive CityWay.
MoreDeveloper shelves plan to buy city land, build Meijer
May 6, 2013
Scott OlsonOpus Development Corp.'s proposal for the project north of downtown included buying and bulldozing dozens of historic homes
in the Flanner House neighborhood.
MoreDevelopers finish first project, shift focus to downtown deal
April 30, 2013
Scott OlsonDrew Loftus and Kyle Robinson are wrapping up their first project, in Broad Ripple, and have bought another building, this
one downtown. A well-known architectural and design firm is slated to be the building's tenant.
MoreOwnership snarl resolved, Illinois Building on block
April 27, 2013
Scott OlsonAn affiliate of locally based HDG Mansur has owned the 10-story building at Illinois and Market streets since the 1980s. It’s
sat empty for 10 years, thanks in large part to separate ownership of the building and the land—an arrangement once
common among downtown buildings.
MoreDowntown's historic Century Building set for sheriff’s sale
April 26, 2013
Scott OlsonThe 112-year-old office building will return to the market in a precarious position, as a major tenant plans to depart.
MoreCalifornia firm snaps up downtown office towers
April 10, 2013
Scott OlsonHertz Investment Group has closed on its purchase of the 650,000 square-foot, two-tower Capital Center and its 525-space underground
parking garage.
MoreDeveloper to move HQ to Carmel, create 25 jobs
April 8, 2013
Mason KingFast-growing Mainstreet Property Group will invest $800,000 to lease and equip offices at 14390 Clay Terrace Blvd.
MoreAs city budget tightens, Center Township trustee has money to burn
April 6, 2013
Kathleen McLaughlinIBJ SPECIAL REPORT: Center Township lowered its bank balance in 2012, to $6.7 million, but the biggest checks Trustee Eugene
Akers wrote weren't for emergency needs like food or shelter, the township’s main mission.
MoreCity to buy key parcel for 16th Street tech corridor
April 6, 2013
Scott OlsonThe city of Indianapolis is poised to pay Citizens Energy Group $6.5 million to buy a key parcel of real estate it’s
targeting as the centerpiece of its ambitious 16 Tech project.
MoreTough times didn't spur spike in poor relief
April 6, 2013
Kathleen McLaughlinHeading into the 2008 recession, Center Township sat on $10.5 million in cash, but sky-high unemployment and rising poverty
over the next four years failed to drain those funds, and the disconnect persists in several area townships.
MoreWhitsett bids to redevelop Star headquarters
April 1, 2013
Scott OlsonOne of the city's most prolific developers of affordable housing hopes to buy the Indianapolis Star headquarters
to redevelop the property into apartments or condominiums.
MoreBru, Mesh owner planning third eatery in Mass Ave neighborhood
March 26, 2013
Scott OlsonMike Cunningham has signed a letter of intent to buy a building at 620 N. East St. that he said would house a "new American
diner."
MoreGeico service center to create up to 1,200 jobs in Carmel
March 18, 2013
Mason KingThe insurer will invest millions to lease, renovate and equip a 109,000-square-foot customer service center at 101 W. 103rd
St. It plans to begin hiring immediately, and bring up to 1,200 new jobs by 2016.
MoreInvestor places first bet on Zionsville's Main Street
March 12, 2013
Tom HartonEric Bretzman, an engineer for Chip Ganassi Racing, closed March 1 on the purchase of 40 S. Main and negotiated a new long-term
lease with il Villagio, an Italian restaurant that has operated in the 4,000-square-foot building for 10 years.
MoreAmbrose snags large industrial deal
February 26, 2013
Tom HartonAmbrose Property Group will break ground next month on its first industrial project, a 545,010-square-foot national distribution
center for Gordmans Inc.
MoreREI, Chicago partner picked to build office building at IUPUI
February 19, 2013
Tom HartonThe five-story, $22.9 million building would be constructed on university-owned land at the northeast corner of New York Street
and University Boulevard.
MoreCIB cuts price on Ober Building after inspections
February 11, 2013
Cory SchoutenThe Capital Improvement Board of Marion County has agreed to slash its sale price on downtown's Ober Building by $700,000
after inspections showed problems including a leaky roof and damaged HVAC system.
MoreBales trial in jury's hands after colorful closings
February 7, 2013
Cory SchoutenDuring three hours of closing arguments Wednesday in the federal fraud trial of real estate broker John M. Bales and William
E. Spencer, a federal prosecutor and two top-tier Indianapolis defense attorneys delivered a series of memorable one-liners
and rhetorical flourishes designed to stick with jurors.
MoreDefense rests in Bales trial after flurry of witnesses
February 6, 2013
Cory SchoutenClosing arguments are expected to begin Wednesday afternoon in the federal fraud trial of Indianapolis real estate broker
John M. Bales and partner William E. Spencer after the defense raced through seven witnesses Tuesday and early Wednesday.
MoreDefense attorneys turn tough in Bales trial
February 1, 2013
Cory SchoutenThe legal team representing real estate broker John M. Bales and partner William E. Spencer haven't called their first
witness and already they're putting up a spirited fight as federal prosecutors seek to prove 13 charges including bank,
mail and wire fraud.
MoreDefense attorneys in Bales case trash former co-defendant
January 30, 2013
Cory SchoutenAttorney and developer Paul J. Page is no longer a co-defendant in the fraud trial of real estate broker John M. Bales and
partner Bill Spencer. But you wouldn't know it from the action Tuesday in U.S. District Court. Only now, rather than federal
prosecutors, it's defense attorneys for Bales and Spencer who are targeting Page.
MoreBales defense: Elkhart deal was a 'scheme to help'
January 29, 2013
Cory SchoutenFacing a looming deadline to find suitable office space for the state Department of Child Services, Indianapolis real estate
broker John M. Bales and partner Bill Spencer in 2008 dipped into their own pockets to help close a difficult lease deal,
their defense attorneys contend.
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In my opinion the estridge companies are crooks. They filed bankruptcy on their 'track housing' side of the business two weeks before they closed on one of my clients' homes. When my client first interviewed Estridge as a builder 6 months before, they specifically ASKED about the solvency of their business, knowing that some builders were struggling. Estridge truly misrepresented their financial situation at that time. I suppose I am more unhappy with the whole system than I am with the builder because what the heck==you can file bankruptcy on 'track homes' but still keep building and make money off of 'custom built' homes??? How ridiculous! They are all homes. How can a company be allowed to bilk thousands of dollars from their subcontractors but still be allowed to build houses?? they should have been made to pay back all their unpaid contractors before being allowed to profit from building any more houses! This alone makes them and the system crooks in my eyes. I would never build an estridge home and I would not recommend for my clients either. If they were truly 'bankrupt' how could they afford to keep building homes anyway??? The whole system needs fixed.
I live a couple blocks east of the Angie's campus and my house is assessed for ~$160,000. If I could get that amount, let alone $384,000 (a 140% bonus), I'd sell in a minute. Either Angie's stockholders just got fleeced, or Angie's is getting about a 58% discount on their property taxes, if these properties are actually worth what they paid Mr. Oesterle for them. Which do you think is the case?
Perhaps the IMA board is really to blame! They agreed to hire Charles. They can't seemingly find donors among themselves, or bring in new blood that will support the museums operating budget with an expanded museum and money to provide curators with something to do (ie buy art). The headlines of disarray at the museum and mass firings are hurting the reputation of the museum for some time to come. If people on the board had misgivings, perhaps they shpuld have more forcefully opposed efforts that they have seemingly been unable to fund, like expansion and the costs it has created!
See, I told u Indyman and Dipsicle....this 8 days is overkill. It's barely worth a weekend....great job Tony George! Your dream has been fulfilled....he fans want the I r l back. Thats how good it was.....and that sucked.
I have been in training for a short time now but right off I can see that safety and quality are the number one issues, my experience as of late has been a positive one, the employees along with Jeff the plant manager and the operation supervisor as well as the engineers are a highly motivated group of people, what an asset for the area to have and for company's in need of a quality metal products.