700 E. Adams St.
Landmark Building in State Capital
Marketing description
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)
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 cafe. 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.
Property currently not operating, offering multiple redevelopment options.
Investment 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
- 5 story parking deck (three floors owned by the city)
- 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
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