Welcome to Speedway!
Talk about the perfect marriage of small town ambiance and large city panache! Speedway sits at the doorstep of the 14th largest city in the US, but maintains a slower pace and quaint feel, in large part because the town resisted annexation when Unigov swept through Marion county in 1970.
Speedway, founded in 1912, is technically an enclave of Indianapolis. The name Speedway is an homage to the concept when built of the town being a ‘horseless city” and as a result it has a rich automotive history. One of the town’s founders, Carl Fisher, not only was credited with operating the first car dealership in the US, but owned a successful auto parts business. He also conceived our nation’s first transcontinental highway, (the Lincoln Highway) and was a principal investor in the Indianapolis Motor Speedway.
Today, the connection continues. There are several racing teams headquartered in Speedway, as well as the Dallara IndyCar Factory, both a manufacturer of race cars and museum. And of course, the town hosts the Indy 500 every year less than a mile from Main Street at the Indianapolis Motor Speedway. In addition to the Greatest Spectacle in Racing, the town also host to various other races and events throughout the year.
The town itself encompasses just under 5 miles, and although surrounded by Indianapolis, feels and operates like a small town. It is definitely a part of the city, but has its own parks system, police department, library and school system. It is also home to 10 churches of various denominations and a Catholic school. Speedway is a unique little town! There has been a sizeable investment in redeveloping the downtown area, and Main Street has enjoyed a renaissance. Plans are in the works to develop four distinct development districts.
The cost of living is 13% below the US average, and this diverse area of just over 12,000 people has many housing options, with single family homes featuring an array of architectural designs including traditional ranch and bungalow-style homes. Many were built during the post-war building boom and are small by comparison to typical suburban homes. The mean housing price is $128.000.
Take a look at what’s for sale in Speedway!
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