I was born and raised in Chicago, but have been in Indianapolis for the past 5 years. And I have to say, I really like it here. I think it is a well kept secret of the midwest.
The cost of living is phenomenonal for a city this size (a nice condo in a great area $700-$800 per month, 3 bedroom home 125K - 160K). You can easily buy very close to downtown and the medical center.
There is a surprising amount to do here. Lots of museums; Eiteljorg Native American Museum, Indiana State Museum, Art Museum, Children's Museum (the nation's largest), NCAA Hall of Champions, I can go on and on. There is a decent zoo here. Most of this is located between downtown and the medical center (all within walking distance).
There is a surprising variety of restaurants. Sure there are a lot of chains...but also plenty of private ethnic restaurants (Italian, Greek, Indian, Thai, Middle Eastern, Asian, French, German, Irish, etc....).
During the warmer months, there is always a festival going on...anyday of the week during the summer there is one (Italian Fest, Irish Fest, Middle Eastern Fest, Greek Fest, French Fest, Arts Fest, Jazz Fest, Oktoberfest, several other music festivals, Indy 500 fest, and many more).
The symphony is excellent. There is a thriving theatre culture here (both traveling and local productions in at least a half dozen theatres); though not advertised as much as it should, it does exist and is pretty good.
Indy is the amateur sports capital of the world. There is an extensive trail system throughout the city that are continually expanding. A lot of parks. There are rowing clubs, biking clubs, and running clubs galore. Several professional teams too.
Nightlife is decent, though could be better. But there are plenty of places to go downtown and north of downtown in the Broad Ripple area (Indy's Lincoln Park).
The lay out of the city is excellent....traffic is tame. You can get just about anywhere in town in 30 minutes or less. Downtown is extremely accessible and parking is cheap.
Chicago is 3 hrs away, Cincy is 1.5 hrs away, Louisville is 2 hrs away.
My only complaint is Indy is very flat and outside Eagle Creek Resevior, there is not a substantial body of water.
People are nice here. I'm sure you could be very happy in Indy.
