Indianapolis Public Schools took another step in our
successful real estate strategy at the Board of School Commissioners Action
Session on August 27. The Board voted to accept an offer on Minnie Hartmann School 78 at 3734 East Vermont Street.
JHBCC Properties, LLC, offered
$400,000 for the property, and pending closing, the Board agreed to that
purchase price, bringing the district both more income and additional savings
by reducing district maintenance costs.
Abbe Hohmann, President of Site
Strategies Advisory, LLC, and part of the district’s Real Estate Review Team, wasn’t
surprised that the property attracted attention. “School 78 is a three-story
building located between two main east/west arteries serving
downtown—Michigan and New York Streets. The site was rezoned in 2011 greatly
expanding the list of approved uses, giving a new owner the opportunity to
take full advantage of the 65,000 square feet of space on 2.7 acres,” she said.
With this successful sale and with
the RFQ (Request for Qualifications) process for the amazing SCIPS property on
Mass Ave segueing into a full bid process in the weeks to come, we continue our
efforts to make ourselves a leaner, more efficient organization for our
students, families and community!