ARAZU ON MAIN • 415 MAIN ST. (pictured above)
Hungry diners once enjoyed Mediterranean fare at Arazu on Main, but the restaurant has been empty since 2021. The ornate property was bought that year for $650,000 by For His Glory Management 3 LLC, owned by Evansville restaurateur Josh Tudela, who maintains an ownership stake in Comfort by the Cross-Eyed Cricket, The Collective, and Parlor Doughnuts nearby on Main Street. When might the former Arazu on Main property join that restaurant family? Tudela was noncommittal, telling Evansville Business: “At some point, we’re looking to do something with it, but we’re not sure when.”
STRATMAN’S PHARMACY • 401 MAIN ST.
The former Stratman’s Pharmacy space at Fourth and Main streets — empty since 2011 — is being eyed for more apartments and a restaurant, according to John Stratman, whose family owns the space.
An architect and engineering company was at the property in mid-September, Stratman says, and the current concept involves residences and the restaurant on the ground floor, with additional residences in the basement. Five condos occupy the second story.
“We’ve had one inquiry as far as the restaurant part, but we haven’t pushed it until we get our design a little farther down the road,” Stratman says. “I know there are a number of grant and incentive programs available, and once we get something shovel-ready, we will be going to some of the agencies and try to get some help on the finance part of it.”
HULMAN BUILDING • 24 N.W. FOURTH ST.
After back-to-back mentions on Indiana Landmarks’ 10 Most Endangered list in 2022 and 2023, the 10-story Hulman Building is eyed for a mixed-use project — 76 apartment units, with an event venue on its bottom two floors. The Southwest Indiana Regional Development Authority is seeking a $4 million Lilly Endowment Grant to advance the project on behalf of developer Toby Potter of Texas-based Global Integrity Finance. Constructed in 1929, the Art Deco building originally housed Central Union Bank and then the headquarters of SIGECO before it became Vectren Corp. The building is vacant except for two sidewalk-level small businesses, and it is under temporary ownership as Indiana Landmarks pursues financing for new uses.
SIEGEL’S • 101-105 S.E. FOURTH ST.
The Romanesque Revival home of the former Siegel’s Department Store (most recently Siegel’s Uniforms) offers a glassy storefront space covering much of the 100 block of Southeast Fourth Street. Vacant since 2016, when the uniform company moved to North Congress Avenue, the building long has been eyed for redevelopment. Evansville architect Adam Green has renderings of restaurant concepts on his website, but nothing has come to fruition. The 15,000-square-foot building dates to the 1880s and is notable for being a part of the only intact Victorian-era commercial block left Downtown. Warren Investment Group has owned the property since Siegel’s Uniforms relocated, and its assessed value is $223,900, according to the Vanderburgh County Assessor’s office.
