Foreclosed Ramada hotel up for auction

June 2, 2011

A foreclosed Ramada Inn property on the east side of Indianapolis will go up for online auction on Tuesday with a minimum starting bid of $300,000.

The two-story, 188-room hotel, which is still open, is located near Interstate 465 and Pendleton Pike at 7701 E. 42nd St. Built in 1970, it features 12,500 square feet of meeting space, a restaurant space used by Bennigan's, as well as an indoor and outdoor pool.
The property was recently listed for sale for $1.8 million by Clinton, N.J.-based Unity Bank.

Bidding on the Auction.com website begins at 1 p.m. Tuesday and ends at 5 p.m. June 9.



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