1703 E Michigan St, Indianapolis, IN 46201 For Lease

THE ELY BUILDING — 1701 E Michigan St, Indianapolis, IN 46201

📍 The Near Eastside is Indianapolis' Hottest Emerging Corridor

Situated on the prominent corner of Michigan Street and State Avenue, The Ely is a historic mixed-use building in the heart of one of Indy's fastest-growing neighborhoods. Minutes from downtown and with direct access to the I-70/I-65 inner loop, this location gives you visibility, foot traffic, and highway exposure — all at once.

Why The Ely?

▸ Historic Character — Original architecture meets updated interiors. Residential units above create built-in daytime and evening foot traffic for street-level businesses.

▸ Activated Street-Level Retail — Multiple commercial spaces designed to activate the Michigan Street corridor with complementary businesses side by side.

▸ Promise Zone Designation — The Near Eastside is a federally designated Promise Zone, meaning targeted federal investment, infrastructure upgrades, and community development dollars flowing into the area.

▸ Major Infrastructure Improvements — Michigan Street was recently converted from one-way to two-way traffic (2024), plus ongoing streetscaping projects by NEAR Indy and the City of Indianapolis are transforming the corridor's look and feel.

▸ Unbeatable Accessibility — Minutes from downtown, near I-70/I-65 interchange, strong visibility from Michigan Street, and easy access for employees and customers across the city.

▸ Growing Neighborhood Momentum — New restaurants, bars, and shops are opening along Michigan Street as developers and small businesses discover the Near Eastside's potential.

Multiple commercial spaces available at $1.25/SF/mo — ideal for retail, service providers, professional offices, or unique uses.