Small Indiana Town Selling 4 Commercial Historic Buildings for $1- Is it Really That Easy?
Show me four quarters, and I'll show you four buildings you can buy. Yes, four limestone commercial buildings in an Indiana town with a population right around 200, are for sale for $1.
Where is Stinesville, IN?
Stinesville, IN is located in Monroe County, 45 miles south of Indianapolis close to Bloomington. The website Bestplacestolive.net once named Stinesville one of the best places to live.
Can You Really Buy Four Building for $1?
The simple answer is yes, but the details are a little more complex. Any potential buyers must submit a proposal to the Stinesville Town Board detailing their plan to restore all four buildings. If more than three proposals are submitted, the field will be narrowed down to three.
Ideally, the town would love to create a hub for residents, like a co-working space, or shops to bring life back to Main Street.
Let's take a look at the area on Main Street with the 4 buildings.
Here is a different angle of the buildings. Note that there are 5 buildings, but only the 4 smaller ones are for sale.
Here we see a view of some of the deterioration that will have to be restored.
So, as you can see, it will take a lot of dollars to restore these historic buildings, and bring Main Street back to life. The request for proposals is an eight-page document, and you can read it HERE.
Dates to Keep in Mind
- Proposals are due by 5 p.m., Eastern time, on Monday, November 15, 2021, and should be submitted electronically to Mark Dollase, firstname.lastname@example.org
- The potential buys will be interviewed the week of November 29, 2021.
- The Town Council will either select a proposal to go forward with or reject them all on or before December 7, 2021.
- The new property owner will be expected to have the building stabilized by September 2022.
Mark Dollase Indiana Landmarks Vice President of Preservation Services
1201 Central Ave. Indianapolis, IN 46202