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222 N Alabama St - Old City Hall 85,000 SF Specialty Building Offered For Sale in Indianapolis, IN 46204
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Investment Highlights
- The city of Indianapolis is seeking requests for proposals: RFP-13DMD-102.
- Old City Hall and its adjacent surface parking lot present the redevelopment and historic preservation opportunity of renowned city center POIs.
- Over the last year, the Indianapolis market’s population grew 0.8% versus 0.3% nationwide, placing Indianapolis 14th among the 54 largest metros.
- Downtown Indianapolis’ Central Business District (CBD) and Opportunity Zone, enhancing the appeal of redevelopment with tax abatement potential.
- Dense 3-mile population of 131,573 residents with an average household income shy of $85,000 and a $1.5B annual consumer spending power.
- 65% of households in the 3-mile realm are renter-occupied, evidence of the demand for one- to four-unit and +20-unit developments.
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, 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
Walkthroughs:
June 15, 2026 @ 10:30-12:00 PM EST
July 13, 2026 @ 3:00 – 4:30 PM EST
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
Walkthroughs:
June 15, 2026 @ 10:30-12:00 PM EST
July 13, 2026 @ 3:00 – 4:30 PM EST
August 3, 2026 @ 10:30 – 12:00 PM EST
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Property Facts
| Sale Type | Owner User | Lot Size | 1.31 AC |
| Sale Condition | Redevelopment Project | Building Size | 85,000 SF |
| Property Type | Specialty | No. Stories | 4 |
| Property Subtype | Public Library | Year Built/Renovated | 1950/1962 |
| Building Class | B | Opportunity Zone |
Yes
|
| Zoning | CBD-2 - Central Business District Two | ||
| Sale Type | Owner User |
| Sale Condition | Redevelopment Project |
| Property Type | Specialty |
| Property Subtype | Public Library |
| Building Class | B |
| Lot Size | 1.31 AC |
| Building Size | 85,000 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1950/1962 |
| Opportunity Zone |
Yes |
| Zoning | CBD-2 - Central Business District Two |
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Exceptionally walkable
90/100
Fairly drivable
50/100
Strong public transit
80/100
Very bikeable
80/100
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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222 N Alabama St - Old City Hall