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colliers.com/indianapolis
FOR SALE | 642 N Madison St | Bloomington, IN
• Owned by the City of Bloomington Redevelopment Commission
• Desired use: economic development/job creation
• Irreplaceable building fabric
• ±7,000 SF in two buildings on 0.43 acres
• Frontage on both Madison and 11th St
• The building is listed on the National Register of Historical Places and is also locally designated as historic in the Showers Brothers Furniture Factory Historic District.
• Located in an Opportunity Zone
• Offering Price: $432,500
o Two appraisals completed in May, 2019: $375,000 and $490,000
• Offers due: July 19th, 2019
HISTORIC BUILDINGREHAB OPPORTUNITY!
DAVE HARSTADBloomington Office
MATT LANGFELDTIndianapolis Office
RICH FORSLUNDIndianapolis Office
Historic Showers Kiln Building
UTILITIES
Sewer/Water City of Bloomington Utilities
Gas Vectren
Electric Duke Energy
Telephone Multiple high speed lines at property line
Stormwater At property line
Internet Comcast
REGULATORY
Zoning Showers Technology Park Overlay
Local Historic District Showers Brothers Furniture Factory Historic District
Platted Yes
Restrictive Covenants Yes
Property Taxes Currently exempt
Opportunity Zone Yes
Flood Plain No
BUILDING SPECS
Building SF ±7,000 SF Total• East Building ±1,021 SF
(46’ x 22.2’)• West Building ±5,954 SF
(107.7’ x 56.6’)
Lot Size / Acreage 0.43 Acres
Parking In alley
Height East: 16’ | West: 16’
N Madison St
Site Plan
± 105’
±50
’Floor Plan
colliers.com/indianapolis
DAVE HARSTADBloomington Office
Due diligence materials are available here: http://bit.ly/TheKilnBldg
Please submit your proposal by 5:00 p.m, Friday, July 19, 2019. The City of Bloomington intends to promptly select a party with whom to negotiate a binding agreement. As a part of its selection process, the City of Bloomington may request an in-person or telephone interview.
If you and/or your contractor(s) would like to tour the building prior to the submission date, please contact Dave Harstad to arrange a tour.
Your proposal should be in non-binding Letter of Intent format, a sample of which is provided on the Colliers website, which can be accessed at the link at the top of this page.
Your proposal should address the following points: • Price• Use• Design (note: full elevations are not required, but are welcome)• Commentary on source of debt and equity, and whether any incentives are being requested• Development resume
Please submit all proposals to Alex Crowley of the City of Bloomington at [email protected] with a copy to Dave Harstad of Colliers International at [email protected]
Electronic submissions are preferred, but paper copies will be accepted. If you plan to submit hard copies, please contact Dave Harstad to discuss the number of copies and other details.
MATT LANGFELDTIndianapolis Office
RICH FORSLUNDIndianapolis Office
Instructions
