Shapiro's site in Carmel draws two bids

September 19, 2013
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Two would-be buyers submitted wildly divergent offers for the former Shapiro’s Delicatessen in Carmel City Center, but any decision is at least a month away.

The Carmel Redevelopment Commission on Wednesday opened a pair of sealed bids for the 11,500-square-foot brick building, taking them under advisement until staff and outside counsel has a chance to review the proposals.

Under consideration: a $2.1 million offer from Indianapolis-based LOR Corp. and a $500,000 bid from locally based Eclipse Real Estate.

The minimum asking price was $2.1 million.

Bidders also were asked to disclose how they intend to use the property, but their responses were not read aloud with the offers.

The building is zoned for office, retail and commercial use.

LOR, which owns and manages almost three dozen commercial properties, sold the United Package Liquors chain to Big Red Liquors in March. Commission staffer Matt Worthley noted that its bid is contingent on terms spelled out in an accompanying document, but did not elaborate.

Company president Adam L. Hill, who attended the meeting, declined to provide details until the proposal is made public following a decision.

Staff will make a recommendation at the commission’s next meeting Oct. 16.

Shapiro’s built the eatery at 918 S. Range Line Road in 2001, kicking off the Carmel City Center redevelopment project. But nearby projects were slow to materialize, and the deli struggled financially.

The CRC bought Shapiro’s $2.5 million mortgage three years ago to help ease the strain; the restaurant closed in June.

Any thoughts on what should take its place?

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  • Excuses
    "Shapiro’s built the eatery at 918 S. Range Line Road in 2001, kicking off the Carmel City Center redevelopment project. But nearby projects were slow to materialize, and the deli struggled financially" What nearby projects failed to materialize? Other restaurants nearby are doing quite well.
  • Shapiro's Mistake
    Brian Shapiro made a huge mistake in leaving the 86th St. corridor. At that time, he claimed his Jewish customers were moving to Carmel. Some did but not enough to support his deli.
    • How?
      How do you submit a bid so far under the minimum? And WELL under in fact.
    • Agree with Brian
      If they were still at 86th Street they would be open. There are still spots down there if they want come back but a bit smaller. MCL does well. To bad I never made it to the fancy Carmel store. Now its gone....
      • Agree with Clayton (revised)
        If they were still at 86th Street they would be open. There are still spots down there if they want come back but a bit smaller. MCL does well. To bad I never made it to the fancy Carmel store. Now its gone....

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      1. A Tilted Kilt at a water park themed hotel? Who planned that one? I guess the Dad's need something to do while the kids are on the water slides.

      2. Don't come down on the fair for offering drinks. This is a craft and certainly one that belongs in agriculture due to ingredients. And for those worrying about how much you can drink. I'm sure it's more to do with liability than anything else. They don't want people suing for being over served. If you want a buzz, do a little pre-drinking before you go.

      3. I don't drink but go into this "controlled area" so my friend can drink. They have their 3 drink limit and then I give my friend my 3 drink limit. How is the fair going to control this very likely situation????

      4. I feel the conditions of the alcohol sales are a bit heavy handed, but you need to realize this is the first year in quite some time that beer & wine will be sold at the fair. They're starting off slowly to get a gauge on how it will perform this year - I would assume if everything goes fine that they relax some of the limits in the next year or couple of years. That said, I think requiring the consumption of alcohol to only occur in the beer tent is a bit much. That is going to be an awkward situation for those with minors - "Honey, I'm getting a beer... Ok, sure go ahead... Alright see you in just a min- half an hour."

      5. This might be an effort on the part of the State Fair Board to manage the risk until they get a better feel for it. However, the blanket notion that alcohol should not be served at "family oriented" events is perhaps an oversimplification. and not too realistic. For 15 years, I was a volunteer at the Indianapolis Air Show, which was as family oriented an event as it gets. We sold beer donated by Monarch Beverage Company and served by licensed and trained employees of United Package Liquors who were unpaid volunteers. And where did that money go? To central Indiana children's charities, including Riley Hospital for Children! It's all about managing the risk.

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