The Indiana University Board of Trustees has acquired 57 real estate properties from the Indiana University Foundation in a transaction valued at approximately $23.38 million. The sale, which took place on September 18, 2025, involves a diverse portfolio of land and buildings surrounding the Monroe County campus, yet both institutions have remained silent on the strategic reasons behind the significant transfer of assets.
According to Monroe County property records, the transaction consolidates ownership of these parcels, which were previously leased by the university from its affiliated nonprofit foundation. An Indiana University spokesperson has confirmed that there are no immediate plans to alter the current use of the properties, which range from administrative offices and residential homes to vacant lots.
Key Takeaways
- Transaction Value: The IU Board of Trustees paid the IU Foundation approximately $23.38 million for the properties.
- Property Count: A total of 57 individual properties were included in the sale, all located in Monroe County.
- Sale Structure: The properties were grouped into 13 separate batches for the sale, with each batch priced below $2 million.
- Official Reason: Neither Indiana University nor the IU Foundation has provided a reason for the large-scale property transfer.
- Future Plans: The university has stated there are no current plans to change how the acquired properties are used.
Details of the Transaction
The transfer of 57 properties was formally recorded on September 18, 2025. Public records show the real estate was organized into 13 distinct groups for the sale. This method of batching the sales kept the value of each individual transaction under the $2 million mark. The cumulative price for all 57 parcels totaled approximately $23.38 million.
This move shifts the ownership of these assets directly to the university's governing body, the Board of Trustees. Previously, the university operated on these properties through lease agreements with the IU Foundation, a common arrangement where a university's fundraising and asset-management arm holds real estate for the institution's benefit.
University Foundations and Real Estate
University foundations often act as separate legal entities to manage donations, investments, and real estate on behalf of a public university. They can acquire property through donations or market purchases, which the university can then use. Transferring ownership from a foundation to the university itself can streamline management, simplify long-term planning, or be part of a larger financial strategy.
A Diverse Portfolio of Properties
The real estate involved in the sale is varied and strategically located around the perimeter of the Indiana University campus. The portfolio reflects a mix of current uses and potential future development sites.
Types of Properties Acquired
The acquisition includes several key types of real estate:
- Administrative Buildings: One notable property is located at the corner of 3rd and Dunn streets, which currently serves as the university’s office of research administration.
- Residential Homes: Several residential properties, such as those along Bryan Avenue, were part of the transaction. These are often used for university housing, visiting faculty, or other related purposes.
- Vacant Land: The deal includes undeveloped parcels and sites with redevelopment potential, such as the location of a former strip mall on 10th Street.
- Commercial and Mixed-Use: Other properties have commercial applications or are situated in mixed-use zones that are integral to the campus environment.
Despite the change in ownership, university operations are expected to continue without interruption. According to a statement from an IU spokesperson, “There are no current plans to change the use of the properties being transferred.” This suggests the immediate goal was ownership consolidation rather than a shift in campus development strategy.
Financial Profile of the IU Foundation
The Indiana University Foundation is a significant financial entity. According to its 2023 1099 filings, the nonprofit organization held approximately $3.4 billion in net assets. As a registered 501(c)(3) nonprofit, the foundation was exempt from paying property taxes on the 57 parcels.
Tax Implications and Unanswered Questions
The transfer of ownership is not expected to affect local tax revenues. Because the IU Foundation is a tax-exempt nonprofit, it did not pay property taxes on these holdings. The Indiana University Board of Trustees, as a state entity, also holds tax-exempt status for property used for educational purposes. Therefore, the tax status of these 57 properties will remain unchanged, resulting in no new revenue for Monroe County.
However, the central question of why the transaction occurred now remains unanswered. Both the university and the foundation have acknowledged receipt of inquiries but have not yet provided details on the motivation behind the sale. The strategic reasoning could involve financial planning, simplifying asset management, or preparing for future capital projects.
The decision to structure the sale in 13 smaller batches, each under $2 million, has also not been explained. This approach could be related to internal financial approval processes, accounting standards, or other administrative requirements for transactions of a certain size.
Full List of Transferred Properties
The 57 properties are spread across numerous streets in Bloomington, primarily concentrated along major thoroughfares like 10th Street and 3rd Street, as well as several residential avenues. The following is a comprehensive list of the addresses involved in the September 18, 2025, transaction:
- 1815 E 10th ST
- 1789 E 10th ST
- 2522 E 10th ST
- 519 E 10th ST
- 919 E 10th ST
- 704 E 10th ST
- 1827 E 10th ST
- 904 E 14th ST
- 902 E 14th ST
- 1469 E 17th ST
- 2427 E 2nd ST
- 508 E 3rd ST
- E 3rd ST (Parcel)
- 1012 E 3rd ST
- 1902 E 3rd ST
- 1610 E 3rd ST
- 501 E 3rd ST
- 1600 E 3rd ST
- 527 E 7th ST
- 502 E 9th ST
- 1815 E Atwater AVE
- 829 E Cottage Grove AVE
- 828 E Cottage Grove AVE
- E Kirkwood AVE (Parcel)
- 512 E Kirkwood AVE
- E Matlock RD (Parcel)
- 1239 E Matlock RD
- 1001 E State Road 45 46 Bypass
- 731 E State Road 45 46 Bypass
- 2218 N Dunn ST
- 309 N Indiana AVE
- 621 N Indiana AVE
- 528 N Indiana AVE
- 327 N Jefferson ST
- 715 N Park AVE
- 815 N Park AVE
- 721 N Park AVE
- 408 N Union ST
- 318 N Union ST
- N Union ST (Parcel)
- 325 S Arbutus DR
- 200 S Bryan AVE
- 212 S Bryan AVE
- 204 S Bryan AVE
- 206 S Bryan AVE
- 214 S Bryan AVE
- 209 S Dunn ST
- 322 1/2 S Eagleson AVE
- S Eagleson AVE (Parcel)
- 320 S Eastside DR
- 114 S Indiana AVE
- 309 S Mitchell ST
- S Rose AVE (Parcel 1)
- S Rose AVE (Parcel 2)
- 209 S Union ST
- 111 S Union ST
As the university community and local observers await further details, this $23.38 million real estate deal stands as one of the largest internal asset transfers for Indiana University in recent years, signaling a potential shift in how it manages its physical footprint.
