Wedding Cake, Anyone?

August 29, 2007
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Wedding Cake HouseOne of Indy's most unique houses is up for sale, with an asking price of $449,900. The Wedding Cake House, built in 1873, has been home to the central regional office for Historic Landmarks Foundation of Indiana. The foundation's regional office plans to move into the group's state headquarters along the Canal at 340 W. Michigan St. The three-bedroom, two-bath home, known formally as Kemper House, sits at 1028 N. Delaware St., just south of the Interstate 65 overpass. The Victorian house has been in public use for 40 years and is now configured as an office.
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  • Sure! I'd tap into that. I believe i drove past it recently. And yes... It IS pretty damn sweet! Much like wedding cake. :-)
  • Looks like a good place for a coffee shop
  • Coffee shop, chocolate shop OR even a modest art gallery of sorts.
  • I suspect it comes with deed restrictions. Potential buyers would be well-advised to ask what uses and modifications might be impermissible.
  • I hope it is used as offices again.
    I would hate to see all the colors changed and the exterior and interior changed beyond historical reason.
    The way its set just goes with the way its built.
    They should sell it as office space, and make sure that historical fixtures, woodwork, etc are not altered or removed.
  • Naturally it will be selected as Indy's new Ikea store.
  • I don't know about historic paint job...other than it looks like it is old. While I agree that the architecture is very nice, I always laughed when I saw the Historic Landmarks sign because it looks to be in such bad shape.

    I do agree that it would be a great building for a coffeeshop/art gallery, but I question there being enough foot traffic in that particular area to sustain it. How about we move it and plop it on top of one of the ugly buildings that the architecture snobs are complaining about downtown? Would that be unique enough as a penthouse? ;-D
  • We all know it will be the next CVS site. They will bulldoze it. And put up a parking lot. Remember THIS IS Indianapolis. We don’t do Historic.
  • I can assure you that there will be ample protection for this building's historic elements. Not only is it in St. Joe's Historic District, but I am sure that Historic Landmarks will protect it through is Historic Covenant Program. These covenants require the owner obtain approval from Landmarks for design changes, including color scheme. Landmarks has these same protections on around 300 properties in Marion County. It also gives them limited right to re-enter and retake the property. The legal enforceability of these rights and protections were reinforced a few years ago through litigation in Southern Indiana.
  • Word on the street is that Don's Guns is looking for a downtown location. There will alot of public assistance on this deal.

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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