Ayr-Way East in Indy

Read time: 6 min.

After a recent trip to the moribund Washington Square Mall in Indianapolis, I found myself fixated on the modern Target out front. More specifically, I wondered about what had come before it. Fortunately, I had reason to head back soon after and took the time to look a little closer. An old Target practically stared me in the face! Its oversized, boxy entrance was a dead giveaway that it started life as Ayr-Way.

Photo taken April 1, 2026.

The story of Ayr-Way begins with L.S. Ayres & Company, a cornerstone of Indianapolis retail founded by Lyman S. Ayres in 1872. Its grand downtown flagship opened in 1905 and became a destination- L.S. Ayres was famous for its fashion, elegant Tea Room, magical holiday displays, and bargain-filled basement. In 1961, the company did something unexpected by launching Ayr-Way, a discount concept that beat future giants like Kmart and Target to the punch1.

A former L.S. Ayres store. Photo taken March 27, 2026.

The first Ayr-Way opened in October 1961 at the corner of 38th Street and Shadeland Avenue in northeast Indianapolis2. The chain’s sixth3, a 115,300-square-foot store that was then the largest of the bunch opened on May 25, 19664. The establishment featured self-service departments for “everyone in the family,” a garden shop, an enormous tire store, and a 22,500-square-foot supermarket5

This ad appeared on page 12 of the May 24, 1966 edition of the Indianapolis News.

When it opened, the East Washington Street Ayr-Way featured a performance from the Gordon Piepers bagpipe group, music from the Stotts Circus Calliope, and an appearance by 1959 and 1962 Indy 500 winner Rodger Ward6. “Ayr-Way Is Complete All-On-One Floor Shopping, ads screamed. “Ayr-Way Is Self Service! Ayr-Way Is Quality! Ayr-Way Is Fashion! Ayr-Way Is A Family Affair! Ayr-Way Is Customer Satisfaction7!”

Photo taken April 1, 2026.

L.S. Ayres was purchased by Associated Dry Goods of New York in 1972. Pressure from the FTC led the company to sell the Ayr-Way subsidiary to a group of private investors for $19.9 million in 19778. Two years later, the Minneapolis-based Dayton-Hudson Corporation’s Target Division bought the forty-one store Ayr-Way operation9. With $1.1 billion is 1979 sales, Target was the country’s eighth-largest discount store chain. With sales of $289 million, Ayr-Way ranked twenty-ninth10.  The old Ayr-Way stores were briefly known as Ayr-Way-Target11, but rebranded to Target in 198112. That’s how the chain got its foothold here!

Photo taken April 1, 2026.

Over time, the store at 8101 East Washington Street was remodeled down to 89,000 square feet, whereas newer Target stores featured 115,000 square feet of space13. In 1999, a 124,000-square-foot replacement opened two miles east at Washington Square Mall to replace a shuttered Montgomery Ward14

Photo taken March 27, 2026.

By 2003, the old Ayr-Way/Target on Washintgon Street was home to Indy Wholesale Furniture15. Ironically, Indy Wholesale Furniture relocated to the shuttered L.S. Ayres space at Washington Square in 201116! Eventually, the storefront at 8101 East Washington Street became home to a flea market called El Mercadito Mall. More recently, Peddlers Village moved in from its spot at an old Service Merchandise next door at East Washington Plaza. 

Photo taken April 1, 2026.

I have some familiarity with the old Ayr-Way property. When I was in a band back a decade ago, our recording studio and guitarist’s house was in Irvington, just west. On the way over, I’d pass the place back when El Mercadito was still hanging on. Even then, the place looked like it had one foot in the grave. Letters had fallen off the sign, windows were boarded up, and the entire complex gave off an uneasy feeling. I never lingered- I just kept driving. Places like Diver’s Supply, Craig’s Hair Care, and a bridal shop had already absconded, but somewhere called Indiana Self Defense moved in with a hand-painted sign. A small outparcel strip to the west was home to China Buffet, Pyramid of Enlightenment, and Maxim Place Vietnamese Cuisine. 

Photo taken April 1, 2026.

By the time I made it back, just about everything had vanished except one holdout, the Pyramid of Enlightenment, which had taken up residence in the old Ayr-Way strip. Naturally, I felt a little cheated. Maybe I’m old-fashioned, but I don’t think you can put “pyramid” in the name and not have a three dimensional representation of a triangle! I even asked Siri to track down nearby monoliths, shrines, or tombs, but nothing came up. Disappointed, I headed home. 

Photo taken April 1, 2026.

It’s a little sad that the building that began as a cutting-edge Ayr-Way -bold enough to beat Kmart and Target to the discount game- eventually became just another box. Since then, it’s been subdivided, repurposed, and quietly forgotten along East Washington Street. Still, like so many places, it tells its story if you know how to look. The oversized entrance and odd proportions add up to the ghost of a concept that once promised everything under one roof. 

Sources Cited
1 Band, Prizes, Gifts To Spark Grand Opening (1963, August 7). The Indianapolis Star. p. 16. 
2 (See footnote 1). 
3 Department Store Quality at Discount Store Prices (1966, May 24). The Indianapolis News. p. 12. 
4Ayr-Way Is Complete All-On-One Floor Shopping! Ayr-Way Is Self Service! Ayr-Way Is Quality! Ayr-Way Is Fashion! Ayr-Way Is A Family Affair! Ayr-Way Is Customer Satisfaction! ((Ad see above). 
5 Padgett To Run Ayr-Way East (1966, March 24). The Indianapolis News. p. 58. 
6 Department Store Quality at Discount Store Prices (1966, May 24). The Indianapolis News. p. 12. 
7 (See footnote 6). 
8 Turchi, K.L. (2012). L.S. Ayres and Company: The Storę at the Crossroads of America. Indiana Historical Society [Indianapolis]. Book. 
9 Corya, R. (1981, April 20). Big Retailer Generous In Its Giving. The Indianapolis News. p. 23. 
10 (See footnote 9). 
11 Time Trial Special (1981, May 14). The Indianapolis Star. p. 22. 
12 In Indianapolis Bloomington and Shelbyville (1981, May 21). The Indianapolis News. p. 16. 
13 Andrews, G. (1998, January 30). 1 mall’s rise could be end of another. The Indianapolis Star. p. 1. 
14 Target to open store in Washington Square (1999, October 9). The Indianapolis Star. p. 23. 
15 Notice Of Intent To Liquidate (2003, November 22). The Indianapolis Star. p. 6.
16 Mall’s growth brings a 5th anchor store. The Indianapolis Star. p. T1. 

8 thoughts on “Ayr-Way East in Indy

  1. I remember Ayr-Way in Fort Wayne. If I’m remembering correctly, they took over the building originally built as Miracle Mart, just to the north of Glenbrook Mall.

    I love the old ad that was still calling Shadeland Avenue by its early name of Road 100. That was to be a kind of proto-465, but only the east and north stretches were built. The north side portion became 86th/82nd Streets.

    1. I think you might be right. At some point that became King’s and was Scott’s when I was in college. Now it’s Kroger.

      Incidentally, Don Scott appears to have been the first non-family investor on Marsh. I’m not sure what form it’ll take just yet, but I’m working up something about Scott’s.

  2. As I’ve said before, there were so many companies trying to get into the discount department store chain in the 1960s and 70s. Now two remain. (Walmart was also pat of the “Class of 1962”.)

    One clarification: “With $1.1 billion is 1979 sales, Target was the country’s eighty-largest discount store chain. With sales of $289 million, Ayr-Way ranked twenty-ninth.”
    Should it be eighth-largest instead?

      1. You should! It makes it easier to get back and forth between footnote and main text. And probably a bigger deal: It auto-numbers, so if you need to add or remove footnotes in between two others in the text, you don’t have to go back and change all the numbers manually.

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