For sale: Indiana vacation town

The old-fashioned town in southern Indiana is a successful vacation and event spot

National /
Apr.April 14, 2019 02:00 PM

Story Inn in Story, Indiana (Credit: Wikimedia Commons)

Real estate brokers love to call their listings “one of a kind,” but there’s a property that’s just hit the market in Indiana that is truly like no other.

The entire town of Story, Indiana is up for sale for the first time in 20 years, according to the New York Post. Owner Rick Hofstetter is asking $3.8 million.

Story was founded in the mid-1800s by Dr. George Story. It was once a bustling lumber town, but it was hit hard by the Great Depression and never fully recovered, according to the Times. Hofstetter purchased the town in 1999.

The old-fashioned 17.4-acre village is about an hour drive south of Indianapolis. It has about a dozen buildings and a population of just three people (plus a rumored ghost) and four dogs, but Hofstetter has helped make it a popular vacation destination by starting a bed-and-breakfast called the Story Inn and preserving old buildings to be used as event venues.

Jacob and Kate Ebel, who co-own the inn with Hofstetter, say they employ up to 50 people at the height of vacation season and claim to hold about 45 weddings each year at the property. The Inn also hosts the annual Indiana Wine Fair. It’s the only property in Story that isn’t up for sale, but Hofstetter said the Ebels will pay rent to the town’s new owner.

Hofstetter, 62, said he’s looking for a buyer who will keep the town largely as-is. “It’s not every day someone gets to buy a town. I’ve had that experience. Now I want to live long enough to sell a town,” he told a local NBC affiliate. [NYP] – Dennis Lynch


Related Articles

arrow_forward_ios
City Council Majority Leader Laurie Cumbo and 840 Atlantic Avenue (Getty, Google Maps)
Atlantic Avenue project gets haircut — and is rejected anyway
Atlantic Avenue project gets haircut — and is rejected anyway
Opendoor CEO Eric Wu (iStock)
Opendoor revenue bounces back in Q1
Opendoor revenue bounces back in Q1
Joan Rivers and 1 East 62nd Street (Getty, Sotheby's)
Joan Rivers’ longtime UES penthouse hits the market for $38M
Joan Rivers’ longtime UES penthouse hits the market for $38M
Clockwise from top left: Scott Stringer, Maya Wiley, Raymond McGuire, Andrew Yang and Shaun Donovan (Getty)
What do Brooklyn homes cost? Don’t ask these candidates
What do Brooklyn homes cost? Don’t ask these candidates
Exhausting other options, buyers flock to fixer-uppers
Exhausting other options, buyers flock to fixer-uppers
Exhausting other options, buyers flock to fixer-uppers
(iStock)
Up, up and away: Home prices soar beyond buyers’ reach
Up, up and away: Home prices soar beyond buyers’ reach
Nearly half of new shops in 2021 will be dollar stores. (Getty)
2021 is raining dollar stores
2021 is raining dollar stores
National chains and mom-and-pop stores are seeing increasing sales per square foot and shrinking occupancy costs (Getty)
National chains paid 93% of rent in April
National chains paid 93% of rent in April
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...