DANVILLE, Ill. (WAND) - It was once known as the Breese Tower and the new owners are now calling it the Collins Tower, but concern of its condition is rising for residents of Danville.

The tower has officially been listed on the National Registry of Historic Places and though that's good news, people are asking what will become of the building and when will progress be made?

Danville's Mayor, Rickey Williams Jr., says he has some concerns himself regarding the status of the building. He says in his brief time as mayor, he had calls from people regarding the building. He says some of the brick is falling apart and immediate action must be taken.

Luckily, in the last few weeks, he's been able to get in touch with the owners and they assured him they would be handling the situation.

"Mrs. Collins has been in communication with us and it's my understanding that they're working with the design netting to keep things from falling or into the roadway," said Williams.

Additionally, he says owners have informed him that the building will be turned into a hotel.

"They hope to make it into possibly living (space), a restaurant and indoor hotel."

According to the Collins Tower Facebook page:

"We are working with the State Historic Preservation Office in order to get this project completed. There are a lot of requirements that must be met in order to do this. No work or demolition may begin until these things are approved by their office."

Williams says he has high hopes that Collins will follow through and bring some life into Danville.

"If action is not taken soon, we will have to seek legal remedies," said Williams.

WAND did reach out to owners and are still waiting for a direct comment. For now, updates can be found on their website