Pan Am Plaza high-rise has buyerCoastal Partners agrees to sell 12-story Downtown building to Houston companyBy Tom SpaldingCoastal Partners, which has owned Pan Am Plaza's 12-story high-rise since 2003, has signed a contract to sell it to Houston-based Principal Equity Management.The deal is expected to close by mid-September, the companies said. No financial terms were disclosed.The pending sale of the 20-year-old building at 201 S. Capitol Ave. does not include either of two skating rinks or the plaza, which are owned by the Indiana Sports Corp.But PEM Chief Executive Officer Michael McQuay said his company has right of first refusal to purchase that property.McQuay said he expects no change in tenants in the office space, which is 95 percent full. The two biggest are the Indiana Spo... 08/24/2007

Dr. Martin Luther King Jr. Street condosNear-Downtown corridor getting townhome project32 upscale units to be built near Crispus AttucksBy Tom Spaldingtom.spalding@indystar.comJuly 27, 2007A team of investors hopes to tap into interest in the Downtown Canal by bringing upscale townhomes to an area north of the canal near Crispus Attucks Middle School.JMK Development intends to build a 32-unit complex called Canal Gardens on a strip along Dr. Martin Luther King Jr. Street, between West 12th and 14th streets.While the canal stops a few blocks south, Canal Gardens will benefit from its allure and will feature a gazebo and old-growth trees. Another attraction is the development's proximity to Downtown.The price tag and its modern look contrast with the adjoining neighborhood, generally know... 08/24/2007

Kansas-based LodgeWorks LP continues to refine its proposal for a hotel project that would include a bridge over the Central Canal. The proposal, designed by Chicago-based ASC Architects, calls for: A four-story bridge over the Canal that would include a two-story lobby, along with hotel rooms on the third and fourth floors. A gazebo, garden and cascading waterfall on the west side of the Canal, just south of the bridge. The waterfall would empty into the canal under the sidewalk. A main hotel entrance on the eastern edge of the Indiana History Center parking lot. The proposal would require reconfiguration of the lot but most spots would remain. A patio for a restaurant and cafe on the west side of the Canal and patio for meeting facilities on the east side. 08/24/2007

Here's a new overhead shot of the stadium, courtesy of Cory Schouten:This rendering now shows the right brick color, the Convention Center expansion, as well as the connector between LOS and the ICC. Looks like they're taking the connector over the train tracks. Click here for a hi-res version that shows some more detail. 08/24/2007

                                                                               Welcome to Indianapolis!  I have compiled a list of websites that may help you with your research on Indianapolis and your move. Of course, as a Buyer's Agent, I would love to assist you with your relocation and help you find a new home.  You can browse new and existing homes around town at http://www.newhomes.com . You can also email me directly!  Happy Surfing!Websites for Greater Indianapolis!http://www.in.gov/  (driver's license, etc.)http://www.indygov.org/  (city/county government) http://www.indy.org/  (parks, events, attractions)http://www.visitindiana.net/  (state attractions)http://www.indystar.com/  (daily newspaper)http://www.imcpl.org/  (public libraries)http://www.eschoolprofile.com/  (school co... 08/20/2007

 Even with all of our local tax uproar and a high number of foreclosures, Forbes magazine still ranks Indianapolis as #1 in housing affordability.If you're not uncomfortable with your monthly mortgage payment and don't obsessively check refinancing rates, chances are you live in one of America's most affordable areas. Homeowners in Indianapolis know what that's like. Its residents don't have to scrimp and save to afford a home at the median price. There, the bulk of the housing stock is well within reach of the average household. Savings depleted? According to our calculations, it would take just two years of gross salary to become a homeowner there.What I think is scary is that there are probably still 1,000's of people that struggle with their finances every month. And many more that ... 08/11/2007

  In a recent article written by Matt Woosley, Indianapolis was named as the number one city with an affordable housing market in comparison to median income.Indianapolis, IN has a Median home price of $112,500.  Its Median household income is $60,383, which give us an affordable home sales rating of 89%.The second most affordable city to live in is Cleveland, OH and the third is Detroit, MI.For more information about these affordable cities, visit Most affordable real estate markets.If you're considering a move to the Greater Indianapolis Area, please visit http://cyndisellsindy.com for home searches and area reports. 08/10/2007

 I drove by the site for Renaissance Bay last night just check and see how things are going.  The dirt is being moved but nothing of note is being built yet.  Earlier they had said that the sales office would be open September 1st: after driving by it last night I think that is quite unlikely.  For those of you not familiar with Renaissance Bay, it is slated to be a new waterfront community of 300 condos that will include one story flats and three story town homes.  Prices will range from $360,000 - $750,000 and the square feet of the unit will range from 1580 – 3200. If you are interested in more information or purchasing a flat or town home at Renaissance Bay, please contact Rebate Real Estate to learn how you can qualify for a 50% commission rebate.          08/08/2007

Untitled Document If you planning on purchasing an Indianapolis home in Marion County in the next 10 months you need to be careful about the current property tax situation or you could end up paying dearly.  For those not familiar with what is going on I will provide a way oversimplified explanation of what has happened: The entire state re-assessed residential real estate and property taxes went through the roof for a variety of reasons. People went crazy and protested when they got their tax bills. It came to light that commercial property was way undervalued in comparison to residential real estate. The Governor ordered Marion County (and a few others outside of Indianapolis) to re-assess both commercial and residential real estate. Residents of Marion County were told to pay the am... 08/02/2007

This will be a short one, as there are not too many details right now.  Premier Properties USA is looking to develop the southwest corner of 86th Street and Keystone into a mixed use development that would include a hotel, offices, shops, and condos.  The project is called Woodfield Crossing and is in the beginning stages of planning and development.  The Premier Properties’ website talks vaguely about upscale businesses, top quality restaurants, and sidewalk bistros but offers little details about the project.  Premier purchased two office buildings on the site from Duke last month and these will also be incorporated into the site.   They are scheduled to present the plans for Woodfield Crossing to the Nora-Northside Community Council on August 2nd.   Rebate Real Estate offers a 50% c... 07/25/2007

If you live in the Central Indiana Area, specifically Marion County - Indianapolis, IN than you've probably heard all the turmiol over the recent property tax bills.  Paula Henry wrote a post Property Taxes in Indianapolis~A Solution and another Lockerbie Square For Sale in Indianapolis regarding the problems and reactions to the recent increases.Well as many of you've heard, we are to pay the 2006 semi-tax amount.  But what is that amount and will we receive a new tax bill?  Well there's a few ways to get the 2006 tax amount if you are unable to find last year's bill. One way is to call the Treasurer's Office:  327-444.   This office asks that you be understanding. Currently they are receiving a large volume of calls so please be patient.  This information is also being posted at the f... 07/25/2007

Location: On the Far Northeastside. Bounded by 81st Street and Alden Lane on the north, Allisonville Road on the west, 75th Street and 7200 Graham Road on the south, and by railroad tracks and Knue Road to the east.History: Development began in the late 1950s near 81st Street. The development moved south, with the last homes built in the mid-1980s.Style of Homes: All are single-family houses. The oldest homes tend to be single-story brick ranches, usually without basements. Older homes are on half-acre lots with wells and septic systems. More recently built homes have city sewer and water. These homes also are larger and include two-story and tri-level brick, stone and frame styles.Population: According to the tax records there are 659 homes in Ivy Hills.Commute to downtown: 25 minutes.... 07/18/2007

 The statistics below were compiled by Carpenter Realtors for the month of June 2007.  If you are interested in another area not included in this post, please contact me.  I would be happy to help you with another area in Central Indiana/Greater Indianapolis.If you are considering a move and would like to know the current value of your home, contact me for a complimentary consultation. 4904-LAWRENCE TWP List Price RangeInventory UnitsUnits  PendedUnits Closed (12 months)Average Days on Market$0 - 100,0004078055670$100,001 - 200,0053513678876$200,001 -300,0001632013298$300,001 - above22722148101Current MLS Inventory of Homes:  1332Average Sales Price of Homes Sold (12 months):  $144,4164905-WARREN -TWPList Price RangeInventory UnitsUnits  PendedUnits Closed (12 months)Average Days on Mar... 07/16/2007

Indianapolis Real Estate Report – Lawrence Township – May 2007   At a Glance:     2007 2006 % Change Active: $192,646 Active: $205,143 -6.09 Pending: $139,429 Pending: $174,460 -20.08 Sold : $140,573 Sold : $150,238 -6.43 Days on Market: 80 Days on Market: 71   Absorption Rate: 8.16       Active: In May 2007, 385 Indianapolis homes were added to the market with an average listing price of $192,646.  May 2006 had 363 homes added to the Indianapolis real estate market in Lawrence Township with an average listing price of $205,143.  The average home that was newly listed was down $12,497 or 6.09% over May 2006. Pending: May 2007 saw 173 Indianapolis homes in Lawrence Township go pending with an average asking price of $139,429.  The same month in 2006, 211 homes in Lawrence Township went p... 07/16/2007

Indianapolis Real Estate Report – Washington Township – May 2007   At a Glance:     2007 2006 % Change Active: $240,470 Active: $239,666 .34 Pending: $191,611 Pending: $209,013 -8.33 Sold : $170,817 Sold : $182,837 -6.5 Days on Market: 73 Days on Market: 79   Absorption Rate: 7.11       Active: In May 2007, 421 Washington Township homes were added to the Indianapolis real estate market with an average listing price of $240,470.  In 2006, 481 Indianapolis homes were added to the market and the average asking price was $239,666.  The average asking price in 2006 and 2007 were almost identical for the new listed Indianapolis homes in Washington Township. Pending: May 2007 saw 183 Indianapolis homes go pending with an average asking price of $191,611.  May 2006 had 288 homes go pending with... 07/16/2007

Well I don't know about you but I got hit fairly hard with a property tax increase on my personal residence. Although I plan to appeal the question that I am still stuck with is how did we got in this mess in the first place. I am also concerned about the effect this may have on property values, although if property values go down shouldn't taxes follow under the current system? I guess the rate will need to be adjusted to keep the taxes high. What breaks my heart are the people I have spoken with on fixed incomes that can no longer afford to stay in their homes, something is just wrong about that.I don't know what the solution is, the bottom line is there is no tax system that is fair for everyone but it certainly appears that the current system is out of control. The only comment I ha... 07/13/2007

I am new to blogging and will admit to being somewhat technologically challenged but willing to learn. Any suggestions or special request for this blog will welcomed, it's about progress not perfection.There are approximately 171 homes in Sylvan Estates, these include home is Graves Sylvan, Sylvan Estates and Sunny Sylvan Estates. The neighborhood  boundaries are roughly Allisonville Road to the East, 62nd to the South, 75th street North and Tuxedo West. Sylvan Estates is a popular neighborhood of custom homes, some on lots larger than 1 acre and unique in a city the size of Indianapolis with lovely tree lined streets. It has become an area where people will often buy an home for the lot and completely remodel and existing home or raze it and build new. The highest historical sales pric... 07/13/2007

Ransom Place's boundaries are nestled at the the edge of the IUPUI campus, W. 10th Street on the north, West St. Clair Street on the south, Camp Street on the west, and North West Street on the east.   In 1992, Ransom Place was added to the U.S. National Register of Historic Places.  This area did not officially receive it's name until 1991 and was named after Freeman Briley Ransom, an outstanding African-American attorney and businessman who made his Indianapolis home in the neighborhood at 828 North California Street.  (This home still stands to this day and is pictured below.)                     The first lots of this area were platted in 1865 by two printers named, Charles P. and J.M. Meikel.  In 1871, a real estate broker named William Y. Wiley became part of the mix.  (In fact "... 07/10/2007

I found another great place to eat in downtown Indianapolis, it's called Bearnos- Little Silcily and it's located at 1 N. Pennsylvania.  Not far from Conseco Fieldhouse, Monument Circle and many other activities in the downtown area.It's one of Louisville's most popular locally owned restaurants and it's now available here in Indianapolis.  The dining atmosphere is casual and very family friendly.  I even noticed a couple pinball machines in the restaurant.  (Ms. Pac-Man, one of my favorites.)The menu offers pizza, submarine sandwiches or pasta.  Specialty pizzas range from the meaty pepperoni extreme to the spicy BBQ chicken.  Try to leave room for one of their fabulous desserts, you'll be glad you did. When Bob and I visited, we had a wonderful waitress named "Rachel" take care of us ... 07/09/2007

http://www.placetoliverentals.com/images/IBJ_Article.jpg 07/08/2007