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Former Wyndham City Centre Hotel 700 E Adams St 369 Room Hotel Springfield, IL 62701 For Sale
Investment Highlights
- 31-story tower totaling 374,200± SF with 369 hotel rooms & 27 apartments
- Indoor pool, fitness center, business center & more
- Starbuck’s franchise included, subject to building reopening & Starbuck’s approval
- Rooftop communications lease that generates monthly revenue of $12,000+
- 50,000± SF of meeting & event space, among the largest offerings in the market
- Offering multiple redevelopment options & incentives available
Executive Summary
The Hilco Global Real Estate Practice announces a bid deadline of September 15 by 5:00 p.m. (CT), with on-site inspections to be held on August 11, August 19 and September 9, for the bankruptcy sale of this hotel.
The former Wyndham City Centre is a towering, 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 property's iconic design makes it one of the region’s most recognizable buildings. The asset features an indoor pool, fitness center, retail space, large restaurant and 50,000± SF of meeting and event space. A Starbucks franchise is included, subject to the building reopening and Starbucks' approval, and a communications lease on the roof provides $12,000+ of income monthly.
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.
Bankruptcy Sale: U.S. Bankruptcy Court, Western District of Texas (San Antonio) Petition No. 5:26-bk-50689 In re: Tower Capital Group, LP
The former Wyndham City Centre is a towering, 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 property's iconic design makes it one of the region’s most recognizable buildings. The asset features an indoor pool, fitness center, retail space, large restaurant and 50,000± SF of meeting and event space. A Starbucks franchise is included, subject to the building reopening and Starbucks' approval, and a communications lease on the roof provides $12,000+ of income monthly.
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.
Bankruptcy Sale: U.S. Bankruptcy Court, Western District of Texas (San Antonio) Petition No. 5:26-bk-50689 In re: Tower Capital Group, LP
Property Facts
| Sale Type | Investment | Building Size | 374,200 SF |
| Property Type | Hospitality | No. Rooms | 369 |
| Property Subtype | Hotel | No. Stories | 31 |
| Building Class | B | Year Built/Renovated | 1973/2015 |
| Lot Size | 1.16 AC | Corridor | Interior |
| Construction Status | Under Renovation | ||
| Zoning | C | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.16 AC |
| Construction Status | Under Renovation |
| Building Size | 374,200 SF |
| No. Rooms | 369 |
| No. Stories | 31 |
| Year Built/Renovated | 1973/2015 |
| Corridor | Interior |
| Zoning | C |
Amenities
- Business Center
- Fitness Center
- Pool
- Restaurant
- Shuttle Service
- On-Site Retail
- High Speed Internet Access
- On-Site Bar
- Convention Hotel
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 36 | $197.00 | - |
| Guest Room | 333 | $154.00 | - |
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Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 14-34.0-132-011 | Improvements Assessment | $787,077 |
| Land Assessment | $416,872 | Total Assessment | $1,203,949 |
Property Taxes
Parcel Number
14-34.0-132-011
Land Assessment
$416,872
Improvements Assessment
$787,077
Total Assessment
$1,203,949
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