McShane Home Update
October 23, 2012
October 23: The McShane home is safe! Indiana Landmarks won the auction with a bid of $120,000; bidding started at $50,000. There were a number of interested parties — some that wanted to demolish the home, some that wanted to save it but build additional homes on the property — and Landmarks hung in there to win.
July 31:The McShane home has been listed with Ruiz Realty for $155,300. This includes two realtor who are interested in demolishing the home and building new. Indiana Landmarks has made two offers on the home. Both have been rejected. If Indiana Landmarks was allowed to purchase the home, it would stabilize the structure, create a protective easement on it, and then sell it. Unless Ruiz Realty is flexible on the purchase price of the home, it is unlikely someone will buy it as listed, as much work is needed to repair water damage on the front of the house and in the basement.
May 21: The McShane home has been listed with Ruiz Realty for $163,530. A number of potential buyers have shown interest in the home. This includes one realtor who is interested in demolishing the home and building new. The CCHS is aggressively working with the city and Indiana Landmarks, who has contacted Chase Bank, the holder of the title, to see if an alternate solution can be found. Potential solutions would be to allow Indiana Landmarks to purchase the home or for the bank to deed the home to Landmarks as a tax write off. Landmarks would then rehab the home, create a protective easement on it, and then sell it.
April 22: The James Gray McShane home, 10000 Range Line Road, went the sheriff sale April 12. The bank lowered the sale price from $305,000, which was what was owed on the property, to $119,000. However, no bids on the home were made. Chase Bank officially took ownership of the home at that time, and contracted with a property management company to prepare it for sale. Late the week of April 15, a local company began to remove debris and trash from the home. It is anticipated that within two or three weeks, a relator will be selected and the home listed for sale.
May 09, 2012 at 5:03 pm, Michelle Young said:
I am Inquiring about the McShane House. We toured it with a realtor this morning and are interested in pursuing purchase of the property, but need a bit more information. We have multiple questions related to restoration of the property to it’s former glory and would love to speak to you about possible contractors, etc. who specialize in such things. Any information you can provide is appreciated! Thanks!
Sincerely,
Brian and Michelle Young
May 22, 2012 at 10:39 am, Anna Moore said:
My husband and I are very interested in the McShane Home! Under no circumstances should this home ever be torn down! We wish to restore it with love and detailed dedication to preserve the history there. Our children should grow up with an appreciation for the past and the knowledge of the importance of caring for those things entrusted to us. This home is beyond anything I have ever even imagined! We have fallen in love with it AS IS but wish to restore it ASAP to everything it once was. Such a beautiful property. We would greatly appreciate any further details anyone has on it and hope never to see the McShane home disappear.
Thank you so very much!
Anna R. Moore
Carmel, IN
July 31, 2012 at 9:35 am, admin said:
Anna,
As far as I know, past bids on the property have been rejected. The sellers are sticking hard and fast to their price of $155,300. The property requires so much work, that this price is really too high. But they don’t seem to budge. I do believe that in order for the property to be torn down, the Historic Preservation Commission must approve it. I believe they will be reluctant to do so. And this will slow down the process at the very least. So that is good news. I will keep you updated on any progress I hear.
Cheers,
Katherine Dil
Executive Director, CCHS
July 24, 2012 at 5:30 am, Dan and Colleen Fitch said:
We are concerned about the Historical McShane property please make sure everyone is aware of the impact this home has made on the community. Please could you give us any additional information on the property. Thank-you Dan and Colleen Fitch