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Covered Bridge Overview - AEDIS REAL ESTATE GROUP, INC.

Covered Bridge

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

Transaction Guidelines

Property Tours: All tours are by appointment only. To schedule a tour please contact:

Lisa Ritter I Marcus & Millichap National Tax Credit Property Advisors 206.826.5700 I lritter@marcusmillichap.com

Listing Agent Contact: For additional details about the investment opportunity, please contact the primary listing agents:


Armand W. Tiberio

Robert L. Sheppard I Spencer H. Hurst I Jeff Kunitz

Marcus & Millichap National Tax Credit Property Advisors

1420 Fifth Avenue, Suite 1600 I Seattle, WA 98101

206.826.5700 phone I 206.826.5775 fax I atiberio@marcusmillichap.com

Represented in Indiana by:

John Sebree

Indianapolis Office I 900 E. 96th Street, Suite 150 I Indianapolis, IN 46240

317.218.5300 phone I 317.218.5310 fax I johns@marcusmillichap.com

Bid Date : To Be Determined By Listing Agents

Terms and Conditions : The fee simple interest in the Covered Bridge Apartments is being offered for sale. A purchaser must place new financing on the asset.

Timing : All offers must indicate the length of the Due Diligence period and the Closing time frame.

Deposit : All offers must specify the amount and type of deposit to be made as well as increases upon the removal of any Due Diligence or Financing contingencies.

Investor Identification : The purchasing entity should include a resume outlining relevant ownership and/or management experience of comparable properties, as well as a statement of financial net worth.

Investment Overview

Covered Bridge holds a central location to major employers, retail, restaurants and other neighborhood services. Just one-half mile north of the property is 56th Street, a corridor for retail and restaurant establishments. Lafayette Square Mall, a 1,126,860 GLA Simon Mall located at the corner of Lafayette Road and 38th Street, is just minutes from the property. Residents benefit from being minutes to U.S. 421 and Interstates 465 and 65, allowing access throughout the city of Indianapolis.

Given the expected increase of 14,000 jobs, Indianapolis should witness the largest percentage increase in the past 5 years. There are expected to be 600 new manufacturing jobs from Rolls Royce and 800 new jobs with FedEx. There is also considerable expansion taking place at the Convention Center/Colts Stadium which is expected to generate 4,900 construction jobs and 4,200 permanent jobs. This expansion is expected to bring $2.25 Billion into the local economy over the next 10 years1. Major area employers include Eli Lilly and Company, Clarian Health Partners, Community Health Network, Indiana University, FedEx and Rolls-Royce2.

The area north of Covered Bridge consists of a mix of single- and multi-family housing and industrial/business parks. Park 100, a 13 million square foot office and industrial park, is approximately one mile north of Covered Bridge and Corporate Center North, another industrial business park is located less than two miles northwest. INTECH Park, an 865,000 square foot office park located one mile west of Covered Bridge, is expected to surpass 2.5 million square feet of office space when fully developed.

Average occupancy and rents in the Indianapolis MSA are rising as concessions and new construction continues to fall. The city saw an increase in average occupancy of 1.2 percent over the last year coupled with a 2.3 percent increase in average rent3. Covered Bridge is well positioned in the marketplace to benefit from improving multi-family fundamentals.

THE OFFERING

PropertyProperty Covered Bridge
Propery Address6700 North Georgetown Road
INDIANAPOLIS, IN 46268
Assessor's Parcel Number6011625
ZoningD62-Multi-Family

 SITE DESCRIPTION

Number of Units252
Number of Buildings20
Number of Stories2 and 3
Year Built1982
Rentable Square Feet224,768
Lot Size18.39 Acres
Density13.7 Units/Acre
Parking487 Open Spaces
Parking Ratio1.93 Spaces/Unit

UTILITIES

WaterIndianapolis Water
PhoneSBC
ElectricIndianapolis Power & Light (IPL)
GasCitizen's Gas

CONSTRUCTION

FoundationConcrete Stab
FramingWood Frame
ExteriorBrick and Vinyl
Parking SurfaceAsphalt
RoofPitched Roof W/Wood Truss Framing

MECHANICAL

HVACGas Furnace-Closet Mounted
Fire ProtectionSmoke Detectors; Has 6 Fire Hydrants

Amenities

COMMON AREA AMENITIES

• Swimming Pool & Tennis Courts
• Clubhouse & Courtyard
• Children's Playground
• Interior Hallways
• Billiards Tables

UNIT AMENITIES

• Well-Equipped Kitchens
• Walk-In Closet
• Balcony/Patio
• Fireplace

Property Photos

Floor Plans

One-Bedroom, One-Bath

Two-Bedroom, Two-Bath

Two-Bedroom, One-Bath

Three-Bedroom, Two-Bath

Site Plan

Area Maps

Aerial Photo

Pricing & Financial Analysis

FINANCIAL SUMMARY

PROPERTY DESCRIPTION

PropertyCovered Bridge
Property Address4909 Covered Bridge Road
Indianapolis, IN
Number of Units252 Units
Net Rentable Area224,768 SF
Year Built1982

PRICING

Total Purchase Price$10,500,000
List Price Per Unit$41,667
List Price Per SF$46.71

FINANCIAL RETURNS

Current NOI$666,585
Current GRM5.86
Current CAP Rate6.35%
Current Cash-on-Cash2.83%
Economic NOI$821,171
Economic GRM5.89
Economic CAP Rate7.82%
Economic Cash-on-Cash9.86%
Proforma NOI$918,822
Proforma GRM5.51
Proforma CAP Rate8.75%
Proforma Cash-on-Cash14.30%

PROJECTED RETURNS - BASED ON 10 YEAR ANALYSIS PERIOD

10 Year Leveraged IRR22.99%

DEBT FINANCING*

Loan Amount$8,400,000
Loan-to-Value Ratio80.00%
Current Debt Service Coverage Ratio1.10
Economic Debt Service Coverage Ratio1.36
Equity Required (Including Closing Costs)$2,199,000

*See Assumptions page for further detail

ASSUMPTIONS

PROPERTY INFORMATION

Name of PropertyCovered Bridge
Street Address4909 Covered Bridge Road
City, StateIndianapolis, IN
Zip Code46268
Total Number of Units at the Property252 Units
Total Net Rentable Residential Area224,768 SF
Property TypeMarket Rate - Family
Year Project Was Originally Built1982

ANALYSIS TIMING

Date of Current Monthly Property Operations:January-01-2007
Effective Start Date of This Analysis:June-01-2007
End of First Year of Analysis:May-31-2008
End of Analysis (Hold Period):May-31-2017
Property Valuation Analysis Period (Hold Period)10 Years

DEBT FINANCING

First Mortgage 
Proposed or ExistingProposed
Loan TypeAmortizing
Loan Origination DateJune-2007
Original Loan Amount$8,400,000
Loan Amount as of Start of Analysis$8,400,000
Loan-to-Sales Price Ratio80.00%
Interest Rate Methodology (360 or 365)360
Permanent Interest Rate6.000%
Term10.00 Years
Amortization Period (enter "0" for Interest Only)360 Months
Loan Constant7.195%
Annual Debt Service Payment$604,347
Maturity DateMay-2017
Outstanding Loan Balance at Maturity$7,029,601
Loan Origination/Assumption Fees$84,000
Include Loan Fees in Year 1 Cash FlowNO
Include Loan Fees in Acquisition ReserveYES

ASSUMPTIONS

CONSOLIDATED DEBT SUMMARYEffective At Start of Analysis
Total Combined Debt Financing (Start of Analysis)$8,400,000
Estimated Property Sales Price (From Below)$10,500,000
Total Loan-to-Sales Price Ratio (LTV)80.00%
Estimated Acquisition Price (Includes Reserves)$10,599,000
Total Loan-to-Acquisition Price Ratio (LTV)79.25%
Effective Loan Constant7.195%
Consolidated Annual Debt Service Payment$604,347
Current Debt Service Coverage Ratio1.10
Economic Debt Service Coverage Ratio1.36

PROPERTY ACQUISITION & VALUE ANALYSIS

Real Estate Price$10,500,000
Price per Unit$41,667 Per Unit
Price per Square Foot$46.71 Per Sq. Ft.
Acquisition Reserves 
Due Diligence & Closing Costs$15,000
Loan Origination Fee$84,000
Total Acquisition Reserves$99,000
  
Total Leveraged Acquisition Cost$10,599,000
Equity Required$2,199,000
Equity-to-Total Leveraged Acquisition Cost Ratio20.75%
Total Loan Amount$8,400,000
Loan-to-Total Leveraged Acquisition Cost Ratio79.25%
Reserves Per Unit$250 Unit/Yr
Terminal CAP Rate (Residual) 
Base Case8.00%
Cost of Sale (Residual)3.00%

NOTES & COMMENTS

Assumes new financing.

This property currently qualifies for a charitable tax exemption which requires non-profit ownership. This analysis
assumes the purchaser will qualify for the same exemption.

Detailed Unit Mix

ONE BEDROOM / ONE BATH UNIT SUMMARY

TypeNo.RSFAsking RentsEconomic RentsProforma Market
Rents
1 BD/ 1 BA92704$485$485$515
1 BD/ 1 BA9264,768$44,620$44,620$47,380
Averages 704$485$485$515

TWO BEDROOM / ONE BATH UNIT SUMMARY

TypeNo.RSFAsking RentsEconomic RentsProforma Market Rents
2 BD/ 1 BA34900$579$579$600
2 BD/ 1 BA3430,600$19,686$19,686$20,400
Averages 900$579$579$600

TWO BEDROOM / TWO BATH UNIT SUMMARY

TypeNo.RSFAsking RentsEconomic RentsProforma Market Rents
2 BD/ 2 BA921,000$599$599$625
2 BD/ 2 BA9292,000$55,108$55,108$57,500
Averages 1,000$599$599$625

THREE BEDROOM / TWO BATH UNIT SUMMARY

TypeNo.RSFAsking RentsEconomic RentsProforma Market Rents
3 BD/ 2 BA341,100$729$729$750
3 BD/ 2 BA3437,400$24,786$24,786$25,500
Averages 1,100$729$729$750

SUMMARY OF TOTAL RENTS

 UnitsTotal RSFAsking
Rents
Economic RentsProforma Market
Rents
TOTALS252224,768$144,200$144,200$150,780

UNIT MIX SUMMARY

Unit TypeNoUnit RSFAsking
Rents
Economic
Rents
Proforma Market Rents
1 BD/ 1 BA Units92704$485$485$515
2 BD/ 1 BA Units34900$579$579$600
2 BD/ 2 BA Units921,000$599$599$625
3 BD/ 2 BA Units341,100$729$729$750
Averages252892$572$572$598

Detailed Income & Expenses

Notes to Income & Expenses

Notes to Current Income & Expenses

(1) Real Estate Taxes: See Real Estate Tax Analysis on following page.

(1) Real Estate Taxes: The property was last physically assessed in 1999; however, beginning with the 2006 tax year, properties are subject to an annual "trending." This is a form of mass appraisal recently adopted by the state legislature. A sale does not trigger a reassessment to the sales price. Values are reached by applying three separate appraisal methods (the income, cost, and market approaches), then taking the lowest of the three resulting values. This property currently qualifies for a charitable exemption which requires non-profit ownership. This analysis assumes the purchaser will qualify for the same exemption.

RE Taxes & Payroll Analysis

Current Income & Expenses

Economic Income & Expenses

Proforma Income & Expenses

Growth Rates

10-Year Cash Flow

Financial Returns & Investment Indicators

Net Rent Summary

Rent Comparables

COVERED BRIDGE

6700 North Georgetown Road

INDIANAPOLIS, IN 46268

SUBJECT PROPERTY

No. of Units252
Occupancy:82%
Year Built:1982
Unit TypeNo. of UnitsSFRentRent/SF
1 Bdr 1 Bath92704$485$0.69
2 Bdr 1 Bath34900$579$0.64
2 Bdr 2 Bath921,000$599$0.60
3 Bdr 2 Bath341,100$729$0.66
Total/Wtd.252224,768$572$0.64

COMMENTS

Concessions: One Month Free With a 13-Month Lease; Utilities: Tenant Pays Electricity & Gas, WSG Included.

1

CROSSCREEK

5756 Crosscreek Drive

Indianapolis, IN 46254

SUBJECT PROPERTY

No. of Units208
Occupancy:96%
Year Built:1990
Unit TypeNo. of UnitsSFRentRent/SF
1 Bdr 1 Bath132510 - 860$499 - $610$0.81
2 Bdr 2 Bath76910$645 - $660$0.72
Total/Wtd. Avg208 $603$0.77

COMMENTS

Concessions: Half-Month Free With a 13-Month Lease; Utilities: Tenant Pays WS (RUBS) & Electricity, Garbage Included, No Gas

2

WESTBURY COURT

774 Santa Monica Drive

Indianapolis, IN 46268

No. of Units484
Occupancy:87%
Year Built:1992

Unit Type

No. of UnitsSFRentRent/SF
1 Bdr 1 BathN/A516 - 644$460 - $627$0.94
2 Bdr 1 BathN/A968$701 - $725$0.74
2 Bdr 2 BathN/A1,070$738 - $820$0.73
2 Bdr 2.5 Bath TwnhsN/A1,165$819$0.70
3 Bdr 2.5 Bath TwnhsN/A1,226 - 1,257$839 - $887$0.70
Total/Wtd. Avg.  $743$0.76

COMMENTS

No Concessions; Utilities: Tenant Pays Electricity, WSG Included, No Gas

3

WOODBROOK

5302 Woodbrook Drive

Indianapolis, IN 46254

No. of Units196
Occupancy:60%
Year Built:1981
Unit TypeNo. of UnitsSFRentRent/SF
1 Bdr 1 BathN/A675$515 - $535$0.78
2 Bdr 1 BathN/A615$615 - $635$1.02
2 Bdr 1.5 BathN/A950$625 - $645$0.67
3 Bdr 1.5 BathN/A1,000$745$0.75
Total/Wtd. Avg.  $632$0.81

COMMENTS

Concessions: $100 Off 1BD & 2BD Floorplans With a 12-Month Lease; Utilities: Tenant Pays WSG (Metered) & Electricity, No Gas.

4

WOODS AT EAGLE CREEK

4949 Bobwhite Lane
Indianapolis, IN 46254

No. of Units460
Occupancy:92%
Year Built:1978
Unit TypeNo. of UnitsSFRentRent/SF
1 Bdr 1 Bath184700$509$0.73
2 Bdr 1 Bath136900$599$0.67
2 Bdr 1.5 Bath Twnhs941,000$699$0.70
3 Bdr 1.5 Bath Twnhs461,200$829$0.69
Total/Wtd. Avg460 $659$0.70

COMMENTS

Concessions: $400 Off First Month's Rent if Moved in 2-Weeks After Application Date; Utilities: Tenant Pays Electricity, WSG
Included, No Gas.

5

HUNTER'S RUN

52nd and Georgetown
Indianpolis, IN 46254

No. of Units304
Occupancy:92%
Year Built:1972
Unit TypeNo. of UnitsSFRentRent/SF
Studio20550$419$0.76
1 Bdr 1 Bath160700$485$0.69
2 Bdr 1 Bath108900 - 1,100$609 - $659$0.63
2 Bdr 2 Bath161,200$669$0.56
Total/Wtd. Avg.304 $551$0.66

COMMENTS

Concessions: Half-Month Free With a 12-Month Lease; Utilities: Tenant Pays Electricity & Gas, WSG Included.

6

OAKBROOK VILLAGE

6098 Georgetown Road
Indianapolis, IN 46254

No. of Units384
Occupancy:91%
Year Built:1973
Unit TypeNo. of UnitsSFRentRent/SF
1 Bdr 1 Bath120680$479 - $490$0.71
2 Bdr 1 Bath156860$564 - $609$0.68
2 Bdr 1.5 Bath Twnhs48990$616$0.62
3 Bdr 1.5 Bath Twnhs241,204$778$0.65
3 Bdr 2 Bath361,140$664 - $689$0.59
Total/Wtd. Avg.384 $628$0.65

COMMENTS

No Concessions; Utilities: Tenant Pays Electricity & Gas, WSG Included.

7

LAKE CAMELOT

6475 Excalibur Court
Indianapolis, IN 46268

No. of Units200
Occupancy:92%
Year Built:1974
Unit TypeNo. of UnitsSFRentRent/SF
1 Bdr 1 Bath72700$479$0.68
2 Bdr 1 Bath72900$615$0.68
2 Bdr 1.5 Bath Twnhs281,100$650$0.59
3 Bdr 1 Bath Twnhs281,330$785$0.59
Total/Wtd. Avg.200 $632$0.64

COMMENTS

No Concessions; Utilities: WSG & Electricity Included, No Gas.

8

INVERNESS

5800 Georgetown Road
Indianapolis, IN 46254

No. of Units220
Occupancy:89%
Year Built:1972
Unit TypeNo. of UnitsSFRentRent/SF
1 Bdr 1 Bath62650$449$0.69
2 Bdr 1 Bath78808$519$0.64
2 Bdr 1.5 Bath Twnhs32928$600$0.65
3 Bdr 2 Bath481,035$700$0.68
Total/Wtd. Avg220 $567$0.67

COMMENTS

Concessions: $300 Off First Month's Rent With a 12-Month Lease; Utilities: Tenant Pays Electricity & Gas, WSG Included.

9

ABINGTON

4565 Edwardian Court
Indianapolis, IN 46254

No. of Units328
Occupancy:92%
Year Built:1981
Unit TypeNo. of UnitsSFRentRent/SF
1 Bdr 1 BathN/A671$445$0.66
2 Bdr 1 BathN/A960$579$0.60
2 Bdr 1.5 Bath TwnhsN/A1,170$699$0.60
2 Bdr 2 BathN/A974$599$0.61
3 Bdr 2.5 Bath TwnhsN/A1,345$799$0.59
Total/Wtd. Avg.  $624$0.61

COMMENTS

Concessions: $200 Off First Month's Rent With a 12-Month Lease; Utilities: Tenant Pays WSG (Metered), Electricity & Gas.

10

ANNHURST

67th and Georgetown
Indianapolis, IN 46268

No. of Units83
Occupancy:93%
Year Built:1984
Unit TypeNo. of UnitsSFRentRent/SF
Studio8288$411$1.43
1 Bdr 1 Bath59576$429$0.74
2 Bdr 1 Bath12864$704$0.81
2 Bdr 2 Bath4864$714$0.83
Total/Wtd. Avg.83 $564$0.95

COMMENTS

No Concessions; Utilities: Tenant Pays WSG (Metered), Electricity & Gas.

  Rent Comparables Map

  Sales Summary

Recent Sales

COVERED BRIDGE

6700 North Georgetown Road

INDIANAPOLIS, IN 46268 

No. of Units:252 No. of UnitsUnit Type
Year Built1982921 Bdr 1 Bath
Sales Price$10,500,000342 Bdr 1 Bath
Price/Unit$41,667922 Bdr 1 Bath
Price/SF$46.71343 Bdr 2 Bath
CAP Rate:7.82%  
GRM:5.89  

COMMENTS

Average Rent: $572; Vacancy: 12%

1

MARINA

955 Shoreland Lane

Indianpolis, IN 46229

No. of Units:348No. of UnitsUnit Type
Year Built:1976641 Bdr 1 Bath
Sale Price:$10,000,000801 Bdr 1 Bath
Price/Unit:$28,736402 Bdr 1.5 Bath
Price/SF:$32.481002 Bdr 2 Bath
CAP Rate:8.25%643 Bdr 1.5 Bath
GRM:4.72  

Close of Escrow       October 1 2005

COMMENTS

Average Rent: $508; Vacancy: 8%

2

ABINGTON

4645 Edwardian Court

Indianapolis, IN 46254

No. of Units:328No. of UnitsUnit Type
Year Built:19811561 Bdr 1 Bath
Sale Price:$8,978,250562 Bdr 1 Bath
Price/Unit:$27,373522 Bdr 1.5 Bath
Price/SF:$30.62322 Bdr 2 Bath
CAP Rate:7.63%323 Bdr 1.5 Bath
GRM:4.37  

Close Of Escrow    December 1, 2005

COMMENTS

Average Rent: $515; Vacancy: 10%

3

WILLIAMSBURG ON THE LAKE

3451 Sherburne Lane

Indianapolis, IN 46222

No. of Units:460No. of UnitsUnit Type
Year Built:19751961 Bdr 1 Bath
Sale Price:$11,759,0001402 Bdr 1 Bath
Price/Unit:$25,563962 Bdr 1.5 Bath
Price/SF:$29.94283 Bdr 1.5 Bath
CAP Rate:8.50%  
GRM:3.97  

Close of Escrow December 1, 2005

COMMENTS
Average Rent: $524; Vacancy: 5%

4

LAKE CAMELOT

6475 Excalibur Court

Indianapolis, IN 46268

No. of Units:200 No. of Units Unit Type 
Year Built:1974  72 1 Bdr 1 Bath
Sale Price: $5,100,00072  2 Bdr 1 Bath
Price/Unit: $25,50028  2 Bdr 1.5 Bath
Price/SF: $27.8328  3 Bdr 1.5 Bath
CAP Rate: 9.31%  
GRM: 3.90  

Close of Escrow October 1, 2005

COMMENTS

Average Rent: $544; Vacancy: 7%

5

SPRINGHILL

6495 Piping Rock Lane

Indianapolis, IN 46254

No. of Units:304 No. of Units Unit Type 
Year Built:1974  144 1 Bdr 1 Bath
Sale Price: $7,000,00080  2 Bdr 1 Bath
Price/Unit: $23,02680  2 Bdr 2 Bath
Price/SF: $30.24  
CAP Rate: 9.10%  
GRM: 5.71  

Close of Escrow June 1, 2006

COMMENTS

Average Rent: $761; Vacancy: 12%

Indianapolis

MARKET HIGHLIGHTS 

Premier distribution hub

  • Fifty percent of the U.S population is within a one-day drive of Indianapolis.

Major health sciences center

  • Eli Lilly and Company, Covance, Inc., and Integrity Pharmaceutical Corp. maintain operations in the region.

Low costs of living and doing business

  • Indianapolis’ costs are far below the national averages.

High median household income

  • The median household income is 10 percent above the national level.

GEOGRAPHY

Indianapolis is located in the gently rolling hills of central Indiana. The metro area lacks formidable development barriers, except the several rivers and creeks that traverse the region and the hilly terrain in

Morgan County, southwest of the city. Marion County, home to Indianapolis, is surrounded by mainly rural counties offering builders ample land for residential and commercial development. Growth is primarily concentrated in the northern suburbs.

METRO

While some Midwestern MSAs are dealing with declining populations, Indianapolis is adding residents. Indianapolis is the third largest city in the
Midwest after Chicago and Detroit. The metro area is comprised of nine counties, with Marion as the largest.

The largest city in the metro is Indianapolis, claiming over 45 percent of the metro's population. Suburban growth is highest in Hamilton and Hendricks counties.

INFRASTRUCTURE

Indianapolis civic leaders tout the region as a preeminent trade and transportation center, with 50 percent of the U.S. population within an eight-hour drive of the city. The metro area is often referred to as the Crossroads of America due to the four interstates and five railroad lines that converge in Indianapolis. The Indianapolis International Airport is conveniently located close to major business centers, including downtown, which is only nine miles away.

Expansions at the airport during the past two decades have ensured its success in meeting the needs of residents and businesses. Major airlines, including Southwest, ATA and Delta, have recently expanded services, and FedEx maintains one of its primary cargo hubs at the
facility. Airport activity continues to increase and
currently supports 8.5 million passengers per year.

ECONOMY

Indianapolis has undergone an economic renaissance during the past two decades. The importance of manufacturing companies has lessened as other employment sectors began to play larger roles in the economy. The metro area has historically been buffered from economic downturns by the presence of the state capital and a multitude of health care firms.

Local pharmaceutical production facilities have helped stabilize manufacturing employment. The metro area is one of the key health sciences centers in the nation, anchored by several pharmaceutical and life sciences
companies. The trade and transportation sector has posted phenomenal growth. During the past three decades, the industry has added over 95,000 positions. This sector claims 22 percent of all jobs in the metro. Indianapolis is easily accessible to many major metro areas by ground or air. Indianapolis outperformed the U.S. economy during the 1990s but is expected to closely track the nation over the coming years. The concentration of intellectually intensive firms, as well as low business costs, will allow the city’s economic revival to continue

Largest Counties: Population Change

  20052010Change 
Marion 865,500 870,500 0.6%
Hamilton 244,500 303,600 24.2%
Johnson 128,700 141,400 9.9%
Hendricks 128,000 150,500 17.6%

One international airport

  • Indianapolis International Airport

Four smaller airports

Four interstate freeways

  •  I-70, I-74, I-65 and I-69

Five railroads

Indianapolis is:

  • 184 miles from Chicago
  • 246 miles from Milwaukee
  • 287 miles from Detroit
  • 593 miles from Baltimore