In spring 2002, efforts were made to change the culture of the Chapter that was not living up to the Fraternity’s high standards. In December 2002, the decision was made to close the Chapter and the Chapter House was sold to cover increasing debt. The facility was leased to another fraternity until August 2007.
With its prime location, current condition, and history with the Chapter, the house corporation determined that reacquiring the nearly 19,500-square-feet facility was the best option. Therefore, Indiana University’s Beta House commenced a $2 million project to re-purchase and enhance their former Sigma Phi Epsilon home in order to return the chapter presence to Indiana University.