Real Estate

IPS Real Estate Initiative

IPS continues its efforts to right size the district’s real estate portfolio. Since 2015, IPS has sold ten properties with an aggregate market value over $20 million dollars with development property tax value of more than $400 million. As important, the redevelopment projects located on the former IPS sites have contributed enormously to revitalization of urban neighborhoods within IPS boundaries.

Examples of IPS real estate sales benefitting the community include:

  • Van Rooy Properties’ “Temple Lofts” on Dr. Martin Luther King Jr. Street; 40 market rate apartments; won Indiana Historic Landmarks award for adaptive reuse; formerly IPS Phillips Temple property
  • Core Redevelopment’s “Roberts School Flats” on E. 10th Street; 30 market rate apartments; formerly IPS James E. Roberts School #97
  • Hendricks Commercial Properties’ “Bottleworks” on Mass Avenue; mixed use development with office, hotel, retail and residential uses; formerly IPS coke plant transportation facility
  • TWG’s “Ford Building” on E. Washington Street; mixed use project with office, retail and residential uses; formerly IPS warehouse facility
  • Milhaus’s “Pinnex” on Fletcher Avenue; 77 market rate apartments: formerly IPS CIRT radio and television facility

All questions about IPS real estate offerings are to be in writing and directed to Abbe Hohmann, CCIM at

IPS Surplus Property Closed Sale List