101 E Adams St | Springfield, IL 62701
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- LoopNet Team
101 E Adams St
Springfield, IL 62701
REO Sale- State House Inn & Conference Center · Hospitality Property For Sale
·
103,282 SF
Investment Highlights
- Excellent Location – The Hotel is positioned directly across the street from the Illinois State Capitol, in the heart of downtown Springfield.
- Underperforming Asset with Upside Potential - The Hotel’s RevPAR ranked 5 of 6 for the last three years, most recently yielding a 74.8% index.
- Recently Completed a Multi-Million Dollar Renovation - The guestrooms and common areas are in great condition.
- Wyndham City Centre Conversion – Under the proposal, there will be fewer hotel rooms available in the market
- Opportunity to Capture Additional Income with the Surplus Parking Lot - The Asset includes surplus parking on the west side of First Street.
- Lease Income – There are two food & beverage leases at the property.
Property Facts
| Property Type | Hospitality | No. Stories | 7 |
| Property Subtype | Hotel | Year Built/Renovated | 1961/2024 |
| Building Class | B | Parking Ratio | 0.51/1,000 SF |
| Lot Size | 1.91 AC | Corridor | Interior |
| Building Size | 103,282 SF | ||
| Zoning | S-3 | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.91 AC |
| Building Size | 103,282 SF |
| No. Stories | 7 |
| Year Built/Renovated | 1961/2024 |
| Parking Ratio | 0.51/1,000 SF |
| Corridor | Interior |
| Zoning | S-3 |
Amenities
- Business Center
- Fitness Center
- High Speed Internet Access
- Patio
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Property Taxes
| Parcel Numbers | Improvements Assessment | $745,715 | |
| Land Assessment | $377,992 | Total Assessment | $1,123,707 |
Property Taxes
Parcel Numbers
Land Assessment
$377,992
Improvements Assessment
$745,715
Total Assessment
$1,123,707
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