The bar I mentioned is just down from Madeira Beach...10 minutes, if that...it is where I have watched Purdue games in the past. It is definitely local.
Caddy's is right on Madeira Beach...it might be an option.
There is a new Bar/Grill at John's Pass on the second floor, above Mad Pub that has large screen TVs and had games on while we were just there.
Finally, The Conch has a bar area and has multiple TVs and has games on any time we have been there. It has some Indiana ties of sorts (I forget what they are...an owner maybe)...there are several IN license plates at the door...there have been Purdue ones in the past...I was annoyed the other night though when I saw an IU one near the entrance.
Hopefully that helps...several options at least.