The Indiana University Foundation has purchased the building where Bear's Place restaurant and ale house was located on East 3 rd Street, as well as two additional lots in the area. The establishment shut its doors last year after 50 years in business.
Three different properties were involved in the sale for a combined total sale price of $3,155,000 million dollars, according to sale disclosure documents.
Third Street Storm, LLC sold the property to IU Foundation on January 31, according to the March 1 deed. The IU Foundation said in a statement that it has no immediate plans for the properties.
Read more: Bloomington’s Bear’s Place closes doors after 50 years
Bear’s Place opened in 1972 and has hosted musicians including David Baker and comedians such as Ellen DeGeneres.
The owners closed Bear’s Place last year due citing the difficult “business climate.”
