Indiana University Foundation buys Bear’s Place building in Bloomington, Indiana; Property deal cost foundation over 3 million dollars in cash
BLOOMINGTON, INDIANA, UNITED STATES - 2022/03/23: Bear’s Place remains closed on Wednesday, March 23, 2022 in Bloomington, Indiana. The iconic Bloomington restaurant and entertainment venue announced the closure on it’s Facebook page February 11, 2022, but left some hope the business would reopen. However, Google lists Bear’s Place, which opened in 1972, as Permanently closed. (Photo by Jeremy Hogan/The Bloomingtonian)
BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s Place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)
Correction: The 3 million dollar deal included the Bear’s Place property and two other properties. The buildings were the restaurant, the parking lot, and another property at 322 S. Eagleson.
Here is a link to the residential property that is right next to the Bear’s Place parking lot:
The Monroe County Recorder’s office confirmed to the Bloomingtonian Thursday that the Indiana University Foundation bought the building where Bear’s Place was located for 50 years before closing.
Third Street Storm, LLC sold the building to IU Foundation, and the deed was transferred and recorded on March 1, 2023, according to the Recorder’s Office.
According to the Sales Disclosure form obtained by the Bloomingtonian the IU Foundation paid a total of 3,155,000-dollars for the property and two others in an all-cash transaction. The sale price did not include an existing business or the sale of a liquor license, but part of the property was leased at the time of the transaction.
The Bloomingtonian is checking with the City of Bloomington on any permits for the building to be demolished, and will update this story once more information is available.
BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place has closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place has closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place has closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place has closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place has closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place has closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place has closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place has closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place has closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, UNITED STATES – 2022/02/13: Bear’s Place has closed after 50 years of doing business on February 13, 2022, in Bloomington, Ind. A Facebook post last week blamed the “current business climate” for the closure, but said the business owners are taking a break. Bear’s place opened in 1972. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, INDIANA, UNITED STATES – 2022/03/23: Bear’s Place remains closed on Wednesday, March 23, 2022 in Bloomington, Indiana. The iconic Bloomington restaurant and entertainment venue announced the closure on it’s Facebook page February 11, 2022, but left some hope the business would reopen. However, Google lists Bear’s Place, which opened in 1972, as Permanently closed. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, INDIANA, UNITED STATES – 2022/03/23: Bear’s Place remains closed on Wednesday, March 23, 2022 in Bloomington, Indiana. The iconic Bloomington restaurant and entertainment venue announced the closure on it’s Facebook page February 11, 2022, but left some hope the business would reopen. However, Google lists Bear’s Place, which opened in 1972, as Permanently closed. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, INDIANA, UNITED STATES – 2022/03/23: Bear’s Place remains closed on Wednesday, March 23, 2022 in Bloomington, Indiana. The iconic Bloomington restaurant and entertainment venue announced the closure on it’s Facebook page February 11, 2022, but left some hope the business would reopen. However, Google lists Bear’s Place, which opened in 1972, as Permanently closed. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, INDIANA, UNITED STATES – 2022/03/23: Bear’s Place remains closed on Wednesday, March 23, 2022 in Bloomington, Indiana. The iconic Bloomington restaurant and entertainment venue announced the closure on it’s Facebook page February 11, 2022, but left some hope the business would reopen. However, Google lists Bear’s Place, which opened in 1972, as Permanently closed. (Photo by Jeremy Hogan/The Bloomingtonian)BLOOMINGTON, INDIANA, UNITED STATES – 2022/03/23: Bear’s Place remains closed on Wednesday, March 23, 2022 in Bloomington, Indiana. The iconic Bloomington restaurant and entertainment venue announced the closure on it’s Facebook page February 11, 2022, but left some hope the business would reopen. However, Google lists Bear’s Place, which opened in 1972, as Permanently closed. (Photo by Jeremy Hogan/The Bloomingtonian)
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