Indy Developer Planning Future of Illinois Building
The long vacant Illinois Building in the heart of downtown Indy is getting a new lease on life.
Developer Ersal Ozdemir has bought the building with redevelopment plans. Ozdemir says it's too early to say, but the building could become either a mixed-use development with high-end residential and retail or maybe a luxury, hotel. He says they're getting input on the best way to redevelop the site. He does say his firm has heard from hotel developers who say the site could make a good boutique hotel.
However, he adds his firm specializes in mixed-use, high-end residential projects. Ozdemir won't say how much he spent on the 10-story building located on the southeast corner of Market and Illinois. He says he'll order a study to look into how best to serve the site which is a federal historic landmark. The building dates back to 1926 and closed in 2002. Ozdemir says the building once housed labor department offices and food court among other things. He says the building needs a lot of work, but remains a solid, viable structure.