This is a split in the wood itself, not just the bark, running from the outside toward the center. For the tree it means the outer wood is now open to air and water, and it will respond by walling the injury off and growing over it. Most trees live with a frost crack indefinitely and a healthy one closes it and carries on. The lasting significance is that the crack is a permanent line of weakness and a doorway for decay, so a trunk with one is a trunk you monitor rather than a trunk you fix. In Speedway — Old Speedway City (Speedway Historic District), Speedway Manor and Main Street corridor included, that's normally a tree trimming job at $250–$1,400. Not urgent.
Why this comes up in Speedway
June 29, 2023 derecho: a 70 mph gust was measured at Indianapolis International Airport and NWS logged trees blocking Furnas Road just off South High School Road on the west side. The July 15-16, 2024 derecho clipped Marion County along its southern edge with a 58 mph measured gust at the airport and multiple downed power lines in Indianapolis, though the destructive core of that one ran north through Tippecanoe, Howard, Tipton and Hamilton counties.
Speedway's canopy
No public street-tree inventory has been published for Speedway, so species counts are UNVERIFIED. Because the residential core finished building out by the mid-1950s and has barely been rebuilt since, much of the yard canopy is likely of comparable age and large enough to close over narrow streets and 40-to-50-foot lots — an inference from build-out dates, not a measured finding. The exception is Main Street, where a town streetscape reconstruction installed all-new landscaping, so those trees are recent.
Marion County rules
Indiana has no statewide tree removal permit, and no Speedway ordinance requiring a permit to remove a tree on private property is documented in the sources reviewed. Important caveat: Speedway is an excluded town under Unigov and maintains its own municipal code separate from Indianapolis, and the full Speedway code text could not be retrieved, so the exact local text is UNVERIFIED. Marion County's zoning ordinance does state a purpose of protecting and enhancing tree cover and the countywide code carries a "Trees and Flora" chapter, but the section citations are unconfirmed and whether they bind Speedway is unconfirmed. Call the Speedway Street Department before touching anything near the street line.
The tree lawn in Speedway
The tree lawn is town right-of-way, and critically it is Speedway's right-of-way, not Indianapolis'. Speedway runs its own Street Department rather than relying on Indy DPW, so right-of-way work is cleared with the town. Who bears the cost of removing an existing tree-lawn tree is UNVERIFIED.