631-420-0044
700 E Adams St, Springfield, IL for Sale
Hospitality - FOR SALE
1/14
null | Request Cap Rate

700 E Adams St
Springfield, IL 62701
Downtown Springfield


HIGHLIGHTS

  • 31-story tower totaling 374,200± SF with 369 hotel rooms & 27 apartments
  • Rooftop communications lease that generates monthly revenue of $12,000+
  • Comprehensive amenity package featuring indoor pool, fitness center, business center & more
  • 50,000± SF of meeting & event space, among the largest offerings in the market
  • Starbuck’s franchise included, subject to building reopening & Starbuck’s approval
  • Five-story parking deck (three floors owned by the city)

OVERVIEW

Bankruptcy Sale: U.S. Bankruptcy Court, Western District of Texas (San Antonio) Petition No. 5:26-bk-50689 In re: ?Tower Capital Group, LP Bid Deadline: September 15 by 5:00 p.m. (CT) On-Site Inspections: August 11, August 19 & September 9, By Appointment Only ? The former Wyndham City Centre is a landmark, full-service hotel located in the heart of downtown Springfield, Illinois. The property is improved with a prominent 31-story hotel tower containing 369 guestrooms and 27 apartments, and remains one of the largest hospitality assets in the Springfield market. This towering hotel offers a full complement of guest amenities, including a restaurant, lounge and Starbucks café. It’s iconic design makes it one of the region’s most recognizable properties. The asset also features 50,000± SF of meeting and event space, including ballrooms, breakout rooms, boardrooms and specialty venues. With such a wide array of accommodations, the property is well equipped to host conventions, government functions, corporate meetings, weddings and social events Adjacent structured parking rounds out the appeal, providing convenient access for guests and event attendees.

FOR SALE DETAILS

PRICE

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# OF ROOMS

369

CAP RATE

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STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Former Wyndham City Centre Hotel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

30

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1973

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.16 AC

LAND SF

50,530 SF

ZONING

C

APN/PARCEL ID

14-34.0-132-011

ASK ABOUT THIS PROPERTY

Jamie CoteHilco GlobalMore Info
631-420-0044

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Jamie CoteHilco GlobalMore Info
631-420-0044

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.