updated: 9/4/2012 12:52:21 PM
A deal is in place to sell a historic building in downtown Indianapolis. The Metropolitan Development Commission is scheduled to hear a resolution Wednesday to authorize the sale of the Ober Building near Bankers Life Fieldhouse to Steak 'n Shake of Indianapolis Office Inc. The MDC says it's a $3.8 million deal.
To handle the sale, the Capital Improvement Board recently transferred the building to the commission.
The property is adjacent to Bankers Life Fieldhouse.
The CIB has owned the building since 1999. It was purchased because the board wanted to have control over property surrounding the fieldhouse.
Ratio Architects is among the current tenants of the building.
The Indianapolis offices of Steak 'n Shake are expected to move into the Ober Building after the deal goes through.
Source: The City of Indianapolis