463-209-8746
222 N Alabama St, Indianapolis, IN for Sale
Office - FOR SALE
1/27
null | Request Cap Rate

222 N Alabama St
Indianapolis, IN 46204
Market East


HIGHLIGHTS

  • Historical Redevelopment Opportunity
  • Located within an Opportunity Zone
  • The City of Indianapolis: RFP-13DMD-102
  • Includes Adjacent Parking Lot - 222 N Alabama St.

OVERVIEW

The Department of Metropolitan Development | City of Indianapolis invites proposals that provide a mix of housing and commercial/retail activity for the underutilized surface parking lot (222 N Alabama St.), proposals that would preserve and repurpose the Old City Hall building, and proposals that would seek to redevelop both properties. Responses should contemplate street-level activation and development that harmonize with and build on adjacent development and districts. Proposals should be sensitive to the historic preservation plan for both properties. Subject opportunity sites are in Indianapolis’ Market East neighborhood, a walkable, low-maintenance living environment in the heart of downtown. Anchored by Monument Circle, the neighborhood is best known for its renter-friendly landscape, attracting young professionals and retirees. Cafés, bars, restaurants, and boutiques otherwise line the downtown streets. Market East is also home to City Market, a hub of commerce for more than 100 years, which, coincidentally, is temporarily closed for a massive redevelopment. The City Market and West Plaza redevelopment projects call for apartments, a revamped Market House, and updated public spaces (slated for 2028), underscoring the city’s need to align with population growth and consumer demand. The subject presents a prominent opportunity to take part in the historic city’s transformation. More than $7 billion is currently being invested in projects to reshape the downtown urban core, supported and incentivized by tax credits and city grants. Please see the Links section and the information below for proposal timeliness and details: For more information, please visit: https://www.indy.gov/workflow/find-bid-opportunities/bidders_for_project (direct link below in the Links Section as well) RFP-13DMD-102 Dept of Metropolitan Development Due Date: September 28, 2026, at 12:00 PM EST Purchasing Agent: Piers Kirby Piers.Kirby@Indy.Gov 317-327-5131 Questions Due: August 7, 2026, at 5 PM EST Final Walkthrough: August 3, 2026 @ 10:30 – 12:00 PM EST

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Old City Hall Properties

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.31 AC

LAND SF

57,064 SF

ZONING

CBD-2

APN/PARCEL ID

49-11-01-240-050.000-101,49-11-24-146-014.000-101

ASK ABOUT THIS PROPERTY

Whitney Gurman Roberts92c PartnersMore Info
463-209-8746

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Whitney Gurman Roberts92c PartnersMore Info
463-209-8746

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.