INDIANAPOLIS — Indianapolis Public Schools Board of School Commissioners Action Session on August 27 voted to accept an offer on Minnie Hartmann School 78 at 3734 East Vermont St.
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.