Passion project: Business partners take on historic limestone building renovation

BEDFORD — Doug Conrad and Larry Parsons have a lot of experience restoring old stone mills for use in modern manufacturing. They renovated the former Ingalls Stone Mill in 1990 that is now Bedford Machine & Tool.

A few years ago, they renovated what was once Consolidated Stone Mill into CAP Group, where transmission cases are trimmed for GM.

Their current venture is taking them far outside of that comfort zone but that's not to say they aren't up to the task of something much greater.

The two business partners who make up CAP Inc. are restoring the former Indiana Limestone Co. headquarters at 405 I St.

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Listed on the National Register of Historic Places, Conrad and Parsons bought the building in 2021 from Gary Manley, who purchased it from the city of Bedford at an auction for $100,000.

Built in 1926, the building has been home to several entities since Indiana Limestone Co. sold it to Oakland City University. OCU operated a Bedford campus there for many years. Later, Ivy Tech held classes there. OCU gave the building to the city of Bedford in 2014 and it was renamed StoneGate Arts & Education Center. College classes were still held there as well as public meetings. It also was used as a small business incubator and housed a few nonprofits. In 2018-19, after the completion of StoneGate downtown, the colleges left the I Street building. In 2020, Bedford Mayor Sam Craig, citing low occupancy and high operational costs, announced the building would be closed and marketed for sale, as the city no longer had a use for the building.

Despite a 2011 appraisal of the building that placed its value at $1.5 million, the city of Bedford received very little interest from buyers when it listed the building at $356,000. Eventually, the price was lowered and when no buyers still came forward, the city sold it at auction.

Since Conrad and Parsons acquired the building, they moved quickly with a plan that began with cleaning the exterior and interior, as well as replacing 155 windows to improve efficiency and lower utility costs.

It had been years since Conrad had been inside but as a longtime Lawrence County resident, he knew the significance of the building.

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"The last time I was inside it was when Indiana Limestone had its offices there. That was when John Tucker was the owner so I didn't remember much. But you can't go into the building without thinking, 'This is amazing.' The craftsmanship is phenomenal. You can put a level on the floor and it's perfectly level. "

As the interior was modified for multiple purposes over the years, it became outdated, but otherwise is in good structural condition.

The restoration is focused on the first two floors. Work on the upper floor and basement will come later.

Dividing walls to create classrooms and office space have been taken down and carpet removed to reveal limestone floors. The grand staircase with its curved banister has been cleaned.

At 27,000 square feet, the building has ample potential. Conrad said one goal is to create a space for large events, such as weddings and conferences. Local interior designer Martie Spaulding is decorating that area, which Conrad said will have four chandeliers and more than a touch of glamour.

"We want you to say, 'Wow' when you walk in," he said.

Behind the building is a courtyard that was paved over. Bordered by a limestone wall, the area was used to display all the different types of limestone that could be used in building. The panels remain today, a reminder of the building's place in the county's limestone history.

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Conrad explained that apart from offices and drafting rooms, much of the building was designed to showcase how limestone could be used. So the staircase, fireplaces and other elements served to highlight the form and function of Indiana limestone to potential customers.

"It's one of the more interesting things about the property that you could walk around, look at the different types of stone and say, 'I like No. 12,'" he said.

The area will be turned back into a courtyard with seating areas.

In a nod to local history, Conrad is installing a one-third-scale quarry that will be surrounded by stone blocks and feature a one-third-scale derrick.

Marilou Parsons grew up on Jackson Street not far from the property. She recalled riding her bicycle around the I street neighborhood and seeing the businessmen walk in and out in their suits. Parsons is married to Larry Parsons.

"If you grew up in Oolitic or Bedford, limestone was so prominent. Everybody knew somebody or had a relative who worked in limestone," she said. "So it's an odd feeling to have ownership in that building because it just seems like such a long shot from being a kid and seeing that building all your life to being part of its restoration."

Parsons said when she was 12 her family moved away from the northside neighborhood to Oolitic. She would be an adult before she ever walked inside the old limestone headquarters.

"I took a photography class and that was my first time inside," she said. "I think I appreciate it more now than when I was a kid."

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The Conrads and Parsons have been business partners for 35 years. Marilou said the chance to take on a project with such significance makes it more special.

"I'm thrilled to be a part of it and know that it's not going to deteriorate," she said. "Doug has done a good job with it and has a vision for it."

Land of Limestone

Conrad is also planning to incorporate features from the Land of Limestone exhibit that was previously housed in the building.

Unveiled in 1994, the exhibit contained more than 200 archival and architectural photographs, historical news accounts, official records, tools and other historical documents. The city of Bedford removed the items prior to the sale of the building. Digital copies were made of photographs and other items are in storage.

CAP is aiming for a spring completion date with a public open house and hopes any limestone employees who worked in the building will come for a visit.

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Working on a nearly 100-year old building is filled with challenges, but Conrad said it's been a labor of love.

"We found a door hinge that was made in 1913. You don't find those anymore. It's a unique building and part of Bedford's history. We've been fortunate to live and work here and we felt something needed to be done," Conrad said.

Contact Times-Mail Staff Writer Carol Johnson at cjohnson@tmnews.com or 812-277-7252.

This article originally appeared on The Times-Mail: Business partners take on historic Bedford building renovation