IU buys Bloomington properties from foundation for $23M

Indiana University bought Bloomington properties worth more than $23.4 million from the IU Foundation last month. 

Most of the 52 lots are adjacent to campus and many are university offices, residential buildings or commercial spaces. They include the Gables building on Indiana where BuffaLouie’s is housed and the Office of Sustainability on 10^th Street. 

The university also acquired empty lots, including the former site of Yogi’s Bar and Grill. 

The IU Foundation is a separate nonprofit that manages IU’s endowment. 

University spokesperson Mark Bode did not answer why IU was buying those properties from the Foundation, only that they were leased to the university and there are no “current plans” to change their use. 

Property owned by IU and the foundation is generally nontaxable if it’s used for educational or other exempt purposes. 

The following is a list of properties transferred on Sept. 18:

• 1805-1809 and 1823 E. 10^th St
• 704, 919 and 1817 E 10^th St
• 519 E 10^th St and 2522 E 10^th St
• 512 and 514-518 E Kirkwood Ave and a parcel on East Kirkwood Ave
• 1799-1803 E 10^th St
• 111, 318 and 408 N Union St, 209 S Union St, and 327 N Jefferson St
• 322 and 322 ½ S Eagleson Ave, a parcel on South Eagleson Ave, and 320 S Eastside Drive
• 1469 E 17^th St
• 715 N Park Ave, 209 S Dunn St, 2218 N Dunn St, 325 S Arbutus Ave and 900-902 E 14^th St
• 1306 E Third St
• 828 and 829 E Cottage Grove Ave and 509, 1012, 1610 and 1902 E Third St
• 527 E Seventh St, 200 S Bryan Ave, two parcels at 1239 E Matlock Road, 309 S Mitchell St, 904 E 14^th St, 508 E Third St, 2427 E Second St, and 307-309 N Indiana Ave
• 731 and 1001 E. Ind. 45-46 Bypass, a parcel on North Union St., 204, 206, 212 and 214 S. Bryan Ave., 502 E. Ninth St., 721 and 815 N. Park Ave., 1600 E. Third St., 1815 E. Atwater Ave., two parcels on South Rose Ave., 114 S. Indiana Ave. and 528 N. Indiana Ave