IBJNews

Tax bills spur eBay listing for Anderson office buildings

Back to TopCommentsE-mailPrint

Two investors stung by soaring property taxes have listed three Anderson office buildings on eBay in hopes of drumming up interest in the $4.5 million package deal.

The buildings include two high-rises and a two-story office building.

Real estate agent Jeanne Clarkson said investors Albert Golukhov and Nikolaos Tsatov decided to sell the buildings after changes in how the state taxes commercial property caused their tax bills to soar. She told The Herald Bulletin that the taxes are based on the $3.4 million purchase price of the buildings, but don't reflect the fact that they are only about 60-percent occupied.

"More than 25 percent of the gross income of those properties goes toward property taxes," Clarkson said.

Clarkson posted the sale on eBay as a marketing tool in hopes of reaching a broader audience. She said the buildings aren't up for auction.

The eBay listing so far has generated more than 50 leads from the U.S., Canada and Great Britain.

Clarkson said the ideal buyer will be someone with large cash reserves and the ability to wait until the market rebounds and occupancy increases.

Linda Dawson, Anderson's economic development director, said the buildings would be a good fit for small- to medium-size professional service businesses, including call centers.

She said she hopes the buildings become more active and bring more businesses and people downtown.

"We think that any time there are new owners to a building they will bring fresh perspectives to the building," she said. "Often they will have their own set of (business) contacts, and that can only be positive."

The most expensive property is the First Merchant's Bank Tower Building, 33 W. 10th St. The 10-story, 90,000-square-foot tower is occupied by First Merchant's Bank on the bottom two floors. Other tenants include law and insurance offices. The building is listed separately for $2 million.

The package also includes the Union Building, 1106 Meridian St., a six-story, 104,000-square-foot brick office building built in 1902, with tenants including Lawyer's Title and Wells Fargo Financial. It is listed for $1.75 million.

The third property, called Eleventh and Jackson, is a two-story 15,000-square-foot office building that is headquarters for Connecticut Electric. The building is listed for $750,000.

ADVERTISEMENT

  • Property Tax
    This is one of the reasons why its not a good investment in property in Madison County. It not just driving business and jobs away. Its also driving the residents away. You would think the Madison County Government would cut spending, low property taxes, and fill all those empty building and houses. My plan would be lower the property taxes to the lowest level, let businesses move into does empty buildings free of charge, in exchange for maintaining the building and paying the utilities.

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.

  2. Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.

  3. I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.

  4. The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.

  5. I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!

ADVERTISEMENT