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Old City Hall Properties 222 N Alabama St 85,000 SF Office Building Indianapolis, IN 46204 For Sale
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Investment Highlights
- Historical Redevelopment Opportunity
- The City of Indianapolis: RFP-13DMD-102
- Located within an Opportunity Zone
- Includes Adjacent Parking Lot - 222 N Alabama St.
Executive Summary
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:
August 28, 2026, at 12:00 PM
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
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:
August 28, 2026, at 12:00 PM
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
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Property Facts
Sale Type
Owner User
Sale Condition
Redevelopment Project
Property Type
Office
Building Size
85,000 SF
Building Class
B
Year Built/Renovated
1950/1962
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
21,250 SF
Slab To Slab
10’
Building FAR
1.49
Lot Size
1.31 AC
Opportunity Zone
Yes
Zoning
CBD-2 - Central Business District Two
Exceptionally walkable
90/100
Fairly drivable
50/100
Strong public transit
80/100
Very bikeable
80/100
Demographics
Demographics
1 mile
3 mile
5 mile
2020 Population
18,551
108,721
257,807
2025 Population
21,426
131,573
288,841
Population Growth '20-'25
15.5%
21.0%
12.0%
2020 Households
11,094
48,283
107,947
2025 Households
12,907
58,456
121,300
Household Growth '20-'25
16.3%
21.1%
12.4%
Average Age
35
35
36
Median Household Income
$90,806
$62,021
$57,091
Daytime Employees
82,368
154,352
210,892
Total Businesses
5,022
15,182
20,419
College Degree + Higher
64%
32%
26%
Property Taxes
| Parcel Numbers | Improvements Assessment | $179,600 | |
| Land Assessment | $78,200 | Total Assessment | $257,800 |
Property Taxes
Parcel Numbers
Land Assessment
$78,200
Improvements Assessment
$179,600
Total Assessment
$257,800
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Old City Hall Properties | 222 N Alabama St
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