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West-side Godby building in foreclosure

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A building on the west side of Indianapolis owned by a prominent local businessman is the target of a $2 million foreclosure complaint filed by Old National Bank.

The bank brought the foreclosure in Marion Circuit Court late last month. On Monday, a judge was expected to sign off on Old National’s request to appoint Cassidy Turley Midwest Inc. as receiver to manage the building at 4701 Rockville Road.

The building is owned by local businessman Thomas Godby, who is listed as a defendant in the suit along with entities 101 Gasoline Alley LLC and Rockville Road LLC.

Godby’s building on Rockville Road is just west of Gasoline Alley, where Godby Heating and Air Conditioning LLC is located.

Godby was the sole owner of Godby Brothers Heating and Air Conditioning LLC, which had been in the Indianapolis market for three decades when Godby sold it to American Residential Services in 1997.

In 2004, Godby and three co-owners resurrected the company, calling it Godby Heating and Air Conditioning.

Godby could not be reached Monday morning for comment on the foreclosure filing.

As of Oct. 5, Godby owed $2 million on loans totaling $2.3 million taken in May 2003 and January 2005, according to the complaint.

An online search of the 4701 Rockville Road address shows Tony Stewart Racing Enterprises and Sara Fisher Racing LLC as tenants, in addition to Gasoline Alley Tune-Up and Auto Service Inc.

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  • Another One Lost
    I heard he has now lost his building at 57 Gasoline Alley. Home of HVM Racing. The Bank has taken it back from him.
  • Everything goes!
    Thomas Godby's personal residence is also on the market at a heavily optimistic asking price of $3 million. He bought it a few years ago after it sat on the market for a while due to Mickelsons' corporate fate. It's crazy to see businessmen conquer and fail in this city... Best of luck to Godby!

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    1. Yes sir keep cashing those 300K a year checks direct to IMS, while millions disappear from the teams like Rahal's. Guess there wasn't enough ka- ching going around to keep Sarah Fisher in business without their "merger". LOL._____.Meanwhile back in Realville the series with the "best racing in the world" drew what appeared to be about 5000 live spectators ( and probably 1500 of those Target "freebies", and was beaten in the ratings by a series that reportedly consists of "parades" and aired while most people are still sleeping. That will generate those big ka-chings for sure. :-). But, hey, as long as the Speedway gets the cash who gives a damn about the teams?

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    3. If I could actually get the prices...I would do this on my own. We need laws that force provides to publish the costs they will charge. Everyone else gives you the price in advance...except hospitals.

    4. I was under the impression that fencing is not allowed on a front yard and that on a corner, both sides are considered "front" yards, therefore can't be fenced without a variance. Also impedes the visibility for drivers at the intersection. Am I understanding this correctly? Might be why a fence was not included in the plans and a request for a variance will have to be made?.

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