Foreclosures – Indianapolis Business Journal

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Owner of downtown’s Landmark Center office tower facing foreclosure

November 25, 2025

The tower is the city’s 10th-largest downtown office complex, according to IBJ research. Its two largest tenants are IU Health and Volunteers of America.

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Owner of 27-story downtown apartment tower faces $101M foreclosure lawsuit

July 2, 2024

Mickey Shuey

Since it was completed in 2018 at a cost of $120 million, the tower has become one of the city’s priciest residential properties, with an average rent of $2,365 per month, or $2.58 per square foot.

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Report: Indiana ranked 7th in U.S. for 2025 foreclosure activity

January 16, 2026 |

Susan Orr

Nationwide, according to real estate analytics company Attom, 367,460 properties saw foreclosure filings in 2025, representing 0.26% of all U.S. housing units. That’s a 14% increase from 2024.

Marion County foreclosures on the rise, new report finds

December 26, 2024 | Daniel Carson, The Indiana Lawyer

Rising home prices and interest rates, higher insurance premiums and other factors are putting more homeowners under extreme pressure to keep up with payments, according to the report.

Foreclosure suit filed against owner of Wilshaw hotel property

February 23, 2024 |

Mickey Shuey

Officials with the town of Speedway, which is not named in the lawsuit, said they are “carefully monitoring” the situation and in communication with the developers on the matter.

Regions Tower owners face $75M foreclosure suit after missing loan deadline

February 5, 2024 |

Mickey Shuey

In addition to its foreclosure demand, Wilmington Trust has requested the appointment of a new receiver for the 685,000-square-foot, 36-story property.

Circle Tower owner facing foreclosure for alleged nonpayment

August 22, 2023 |

Mickey Shuey

Chicago co-working company Expansive bought the landmark building on Monument Circle before the pandemic. Centier Bank says Expansive still owes $12.9M on its loan and has fallen behind on payments.

Tsunami of deferred debt is about to hit homeowners no longer protected by a foreclosure moratorium

August 1, 2021 | The Washington Post

Congress approved $10 billion in federal assistance to help homeowners pay off debt, but the program is moving so slowly that protections are expiring before states have figured out how to distribute the money.

Millions fear eviction as end of federal moratorium nears

June 16, 2021 | Associated Press

The U.S. Census Bureau’s biweekly Household Pulse Survey shows that nearly 4.2 million people nationwide report that it is likely or somewhat likely that they will be evicted or foreclosed upon in the next two months.

Bank CEOs tell Congress they’ll work to avoid foreclosures

May 27, 2021 | Associated Press

The chief executives of the nation’s largest banks went in front of Congress for a second day Thursday, facing questions ranging from inflation to their efforts to keep Americans in their homes after pandemic aid expires this summer.

Despite foreclosure, experts see bright future for The Shops at Perry Crossing

December 4, 2020 |

Mickey Shuey

The shopping center—the 10th-largest in the Indianapolis area, at 600,200 square feet—was repossessed by its lender in October, after Memphis-based owner Poag Shopping Centers LLC defaulted on a $29.9 million loan balance in June. It’s the second foreclosure for the property, which used to be called Metropolis.

Plainfield mall facing foreclosure for 2nd time after owner misses $30M payoff

August 12, 2020 |

Mickey Shuey

The owners of the Shops at Perry Crossing had been hoping to sell the shopping center before a May deadline to pay off the property’s loan balance, but the pandemic ruined those plans.

Bank alleges developer owes nearly $16M for project near airport

February 13, 2020 |

Mickey Shuey

The suit, filed Tuesday in Marion Superior Court by Evansville-based Old National Bank, claims Paul Kite and his firm owe the bank $15.8 million.

Former AIT Labs owner faces $4.4M suit over HQ building

November 8, 2017

The once-booming toxicology business struggled for years under declining revenue and huge debts before being acquired last year by a Texas private equity firm. Its Park Fletcher headquarters building remains empty.

Landlord’s Marsh bet leaves trail of foreclosures

June 1, 2017

Landlords across Indiana are feeling the pain from the collapse of Marsh Supermarkets, but none more so than a Canadian firm that had as many as 12 of the grocer’s stores in its portfolio.

Foreclosure suit alleges Mainscape affiliate owes more than $6M on loan

January 20, 2017

The 100,000-square-foot building on Keystone Avenue once served as the headquarters for the landscape firm Mainscape Inc.

Hofmeister retail property headed for foreclosure sale

October 27, 2016

The sale is intended to resolve a lawsuit filed by Wells Fargo Bank that accused Hofmeister of defaulting on a $2.3 million mortgage on the building.

Hofmeister faces $2.4M suit over Clearwater jewelry store

June 1, 2016

The foreclosure lawsuit is the latest legal problem for the 43-year-old retailer, which is still trying to pay off debt from a Chapter 11 bankruptcy it filed in 2011.

Bill would weaken protections for homeowners in foreclosure

January 14, 2016

Banks support proposed state legislation that could prevent Hoosier homeowners from using a settlement process to avoid foreclosure. But the sponsor of a bill with the controversial provision says he will strike it.

Bill addressing foreclosure-prevention options under fire

March 23, 2015

An Indiana law that has helped thousands of residents at risk of foreclosure keep their homes could be "gutted" under a bill being considered by state lawmakers, housing advocates say.

Struggling strip centers reorganizing under bankruptcy

January 26, 2015

The two centers are owned by Centre Properties and located on the east and west sides of Indianapolis. Meanwhile, in a separate case, a lender is seeking to foreclose on several industrial buildings.

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