Nestled between Iuka Ravine and the Ohio State campus, this small neighborhood was platted in 1906, with homes being built between 1908 and 1913. Easy access to The Ohio State University and streetcar lines made this area desirable to faculty and is still a stronghold of permanent residents. The neighborhood was home to noted University President William Oxley Thompson, who served from 1899 to 1925. President Thompson heavily influenced the neighborhood by delivering sermons and exhortations to the nearby students on a specially built stone pulpit on the side of Indianola Presbyterian Church.
Prominent architectural styles in Indianola Forest include early 20th century Arts & Crafts, American Foursquare, and Revival Homes. Residential detailing is typified by fluted Doric columns, stained glass windows, wrap-around porches, large eave brackets, and stone steps. Indianola Forest was placed on both the National and Columbus Registers of Historic Places in 1986. Residents often share responsibility for projects and hold meetings with the adjacent Iuka Ravine neighborhood.