IPL Building

Off-Market

1 Monument Circle, Indianapolis, IN 46204

This property is off-market. Unlock in-depth property data and market insights by signing up to CommercialEdge.

  • Property Type Office - General Office
  • Property Size 178,750 SF
  • Lot Size 0.44 Acre
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1927

Contacts

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Owner

  • True Owner
  • Registered Owner

Tenants

Suite Name Tenant Leased
Space
Rent Price Lease
Type
Space
Type
Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross
General
Office
11/01/2014-
N/A
370 17th Street
#6000
Morrison & Foerster,
(303) 592-1500
10,710 SF $26/SF/YR Full
Service
General
Office
08/01/2013-
07/31/2023
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Brokers

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Documents

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Sales

  • Purchase Date 09 Feb, 1935
  • Purchase Price
  • Arm's Length True
  • Buyer Name

Market Trends

Average Actual Rents in Indianapolis

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Indianapolis Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2022 Avg. Asking Rent $22.03
  • 2022 Office Vacancy Rate 21.26%
  • 2022 Office Completions (SF) 122,294

Indianapolis Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

  • 2022 Avg. Price per SF $89.98
  • Y-o-Y Avg. PpSF Change -30.47%
  • 2022 Office Sales Volume $113.2M
  • 2022 Number of Transactions 21
View more Indianapolis market trends

Location

Getting Around

  • Walk Score ®

    99/100 Walker's Paradise
  • Transit Score ®

    66/100 Good Transit
  • Bike Score ®

    98/100 Biker's Paradise
Powered by Walk Score ®
  • City Indianapolis, IN
  • Neighborhood Wholesale District
  • Zip Code 46204
  • Market Indianapolis

Points of Interest

  • Indianapolis Union Station

    0.41 miles

  • Canal

    1.08 miles

  • Indiana University/Riley

    1.22 miles

  • Methodist

    1.47 miles

  • Tesla Supercharger

    0.27 miles

  • Marathon

    0.47 miles

  • Speedway

    0.73 miles

  • Phillips 66

    1.18 miles

  • Marathon

    1.19 miles

  • Speedway

    1.23 miles

  • Marathon

    1.25 miles

  • Phillips 66

    1.35 miles

  • Speedway

    1.40 miles

  • Speedway

    1.51 miles

  • Plaza Garage

    0.26 miles

  • 301 North Illinois Street

    0.27 miles

  • World of Wonders Garage

    0.28 miles

  • Virginia Avenue Garage

    0.29 miles

  • Pulliam Garage

    0.33 miles

  • Union Station Parking Garage

    0.36 miles

  • The Savoy

    0.36 miles

  • Cityway North Car Park

    0.39 miles

  • Market District Garage

    0.40 miles

  • 429 Penn Parking

    0.41 miles

  • Hilton Garden Inn Indianapolis Downtown

    0.07 miles

  • Conrad Indianapolis

    0.10 miles

  • Sheraton Indianapolis City Centre Hotel

    0.14 miles

  • Embassy Suites by Hilton Indianapolis - Downtown

    0.16 miles

  • Hampton Inn Indianapolis Downtown Across from Circle Centre

    0.17 miles

  • Hilton Indianapolis Hotel & Suites

    0.18 miles

  • Hyatt Regency Indianapolis

    0.22 miles

  • Le Meridien Indianapolis

    0.23 miles

  • Hyatt Place Indianapolis Downtown

    0.23 miles

  • Hyatt House Indianapolis / Downtown

    0.23 miles

  • Potbelly's

    0.03 miles

  • Soupremacy

    0.04 miles

  • Qdoba

    0.04 miles

  • Giorgio's Pizza

    0.04 miles

  • Green District Salads

    0.05 miles

  • Chipotle

    0.05 miles

  • Jimmy John's

    0.05 miles

  • Five Guys

    0.07 miles

  • Buffalo Wild Wings

    0.07 miles

  • Morton's The Steakhouse

    0.09 miles

  • Saint Johns Academy

    0.30 miles

  • Saint Marys School

    0.50 miles

  • IT Building

    0.71 miles

  • Center For Inquiry School #2

    0.74 miles

  • LD Building

    0.80 miles

  • Lumen Christi Catholic School

    0.83 miles

  • SL Building

    0.84 miles

  • Lecture Hall

    1.00 miles

  • Saint Bridgets School

    1.01 miles

  • Washington Irving School 14

    1.07 miles

  • St. Mary's Child Center

    0.99 miles

  • Stepping Stones

    2.50 miles

  • Charity Church Child Care Center

    2.67 miles

  • Divine Blessings Childcare Ministry

    2.69 miles

  • Kiddie Kollege

    2.77 miles

  • Sunrise Christian Academy Daycare and Preschool

    3.12 miles

  • Day Early Learning Lilly Family Center

    3.63 miles

  • God's Angels Childcare

    3.69 miles

  • Decision Childcare Ministries

    3.93 miles

  • Reach to Teach Daycare

    3.97 miles

Frequently Asked Questions

What is the total square footage of IPL Building?

IPL Building totals 178,750 square feet.

When was this property built?

IPL Building was built in 1924.

When was IPL Building last sold?

IPL Building was last sold on 09 Feb, 1935.

What is the property tax for IPL Building?

The property tax for IPL Building in 2022 was $342,523.

What is the market value for IPL Building?

The market value* for IPL Building in 2022 was $12,319,200.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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