The sale of Tract 1 and Tract 2 in Bloomington’s Trades District for a total of $4.6 million was approved by the city’s redevelopment commission at its regular Monday meeting.
The purchaser is The Mill, which is a private nonprofit operating out of the former Showers Brothers furniture factory dimension mill building on Madison Street. That’s south of 11th Street and north of the city hall building. The Mill is a coworking space that describes itself as a part of the city’s “startup ecosystem.”
To pay for the land, The Mill is using part of a $16 million award to the Indiana University Foundation, from the Lilly Endowment, through Lilly’s College and Community Collaboration (CCC) initiative.
When the land deal closes sometime in the next few weeks, Bloomington’s redevelopment commission will have sold all four tracts in the Trades District, which it offered for sale in June of last year. The sale of Tract 3 and Tract 4 to Alluinn IU Trades District Hotel for $1.2 million LLC was approved by the RDC in early November.
The $4.6 million figure reflects the sum of the individual $2.55 million and $2.05 million price tags for the parcels, which amount to roughly 3 acres. Continue reading “The Mill to pay $4.6M for Bloomington Trades District land, means all 4 developable tracts now sold”




