SPRINGFIELD, Ill. (WAND) - Online bidding for the Wyndham Hotel in Springfield has been extended.
Bidding went as high as $9,800,000 in the last several minutes the auction was active, but the bids did not meet an undisclosed reserve price set by the seller.
However, the auction was reactivated, and bids continued to come in.
Ten-X told WAND News if a sale is not made during the auction, the broker will work with the seller and any online bidders to see whether the gap can be closed.
The 30-story building at 700 E Adams Street went up for online auction April 15-18.
Credit: Ten-X
The high-rise is 50 years old and has gone through many unfulfilled plans in the past, including being rezoned for half the rooms to be market-rate apartments.
Springfield's tourism director opposed the plan, not wanting the City to give up downtown hotel rooms.
Ald. Shawn Gregory told WTAX News, “There’s a strong, strong want for it to stay primarily a hotel. As we grow, particularly with the (Scheels Sports Park) coming online within a year or so, I think there are some strong opinions out there to hold it as a hotel as much as it can be.”
The online listing initially showed a starting bid of $3 million. Later, an undisclosed reserve was set. The building does require repairs such as replacing the HVAC system.
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