Cops: Ind. gunman who took, released hostages dies

VALPARAISO, Ind. —Police say a gunman who held hostages at an Indiana real estate office before shooting himself has died.

Valparaiso police Sgt. Michael Grennes said the gunman died at a hospital Friday evening.

Police Chief Michael Brickner says the gunman shot himself twice in the head earlier in the day while holed up in the Prudential Executive Group Real Estate office.

Police say the gunman had gone to the office looking for someone he thought owed him money. They say he held employees hostage and released the last two several hours later.

SWAT team members stormed the office less than two hours after all the hostages were released. Two loud bangs were heard before officers broke window glass and rushed inside.

Brickner says officers believe the man shot himself before officers stormed the building.

Police had received a 911 call about 10 a.m. reporting that a man with a gun had entered the brokerage office. Grennes said there was a "brief exchange of gunfire" when officers arrived.

Grennes said there were fewer than 10 people in the building when the incident began and that the last of the two hostages were released unharmed after 3 p.m.

No hostages reported being shot. Grennes said one person who was struck in the head during the incident was treated and released from a hospital.

SWAT team members stormed the building less than two hours later.

Valparaiso Police Sgt. Michael Grennes said the gunman was not an employee of the brokerage.

"I just know the reason for him being there was a dispute over ... somebody in the building, an employee in the building, owed him money. He believed that," Grennes said.

Mack Elliott, an agent at the brokerage, earlier told The Associated Press he was not in the office when the gunman entered, but had spoken to a couple of agents who were working at the time. He believed the incident stemmed from a dispute over a real estate transaction.